Women’s Equity Lab (WEL) Manitoba backs Marlow and femtherapeutics in first two investments of
Fund 3
In a show of WEL’s strength beyond “just writing a cheque”, investors delivered key introductions to Marlow in the local market even before deciding to invest
TORONTO, ONTARIO, CANADA – SEPTEMBER 15, 2026 – Women’s Equity Lab (“WEL”), a national network of investment funds that fast tracks women into angel investing in Canada, today announced the first two investments of WEL Manitoba’s third fund: period care company Marlow and medtech company femtherapeutics.
Fund 3 closed fully subscribed in May 2026 at $310,000 CDN with 62 limited partners, the largest investor group of any WEL fund to date. Most are first-time angel investors. WEL investors pride themselves on going well beyond writing a cheque, offering founders support, guidance, connections, and a sounding board when they need it most.
When a new Manitoba legislation, effective September 1, 2026, required Manitoba employers to provide free menstrual products in workplace washrooms – WEL investors moved quickly to help Marlow capture the market opportunity. On the strength of the pitch alone, and while the fund was still deciding on investment, WEL Manitoba investors introduced the company to Manitoba employers and retailers.
Those introductions became supply agreements with eight Manitoba workplaces and shelf space at Red River Co-op, which operates more than 40 stores across Manitoba and northwestern Ontario. WEL Investors also helped carry Marlow’s story to local and national media, including BNN Bloomberg and the Winnipeg Free Press.
“Our limited partners are accountants, operators, executives, business owners and lawyers, working across a wide range of industries, and when they back a company they bring their expertise, advice, and contact lists – not just their cheques,” said Katie Hall Hursh, Managing Partner, WEL Manitoba. “For an early-stage founder, support far beyond a cheque is often worth more than the investment.”
Hall Hursh is one of six Managing Partners of WEL Manitoba Fund 3, alongside Melanie McCreath, Lindy Norris, Joelle Foster, Trudy Martens, and Mia Balansag. They are supported by former WEL Manitoba Managing Partners and senior advisors Sandra Foster and Priti Mehta-Shah.
“Before they had even invested, WEL Manitoba was making strategic introductions to retailers and partners to help increase our distribution,” said Nadia Ladak, Co-Founder and Chief Executive Officer, Marlow. “When Manitoba passed its legislation, they immediately connected us with organizations looking to create more inclusive workplaces. The best investors don’t just write a cheque. They open doors, create opportunities, and become true partners in building the business.”
Marlow is a Canadian-founded, women-led organic and toxin-free period care company cofounded by Ladak, Harit Sohal, and Kiara Botha. The company is known for its organic cotton tampons with a plant-based applicator, plastic-free pads, and its innovative tampon lubricant – the first of its kind designed to make insertion smoother and more comfortable. Marlow sells on Amazon and in over 300 stores across Canada and the United States. Its founders have been named to Forbes 30 Under 30 and appeared on CBC’s Dragons’ Den. In May 2026, Marlow was named to the National Angel Capital Organization (“NACO”) Canada’s Top Moonshot Ventures list.
femtherapeutics, based in Montreal and cofounded by Inara Lalani, Negin Ashouri, and Dr. Mihnea Gangal, is building a better front door for women’s pelvic health, starting with the world’s first home-use pessary for pelvic organ prolapse and postpartum recovery, a condition affecting one in two women over 50 and three in four who have delivered vaginally. femtherapeutics removes the barriers of specialist referrals, invasive clinic fittings, and recurring maintenance visits with a device a woman screens for, sizes, and manages entirely at home, paired with a digital platform that supports her across any pelvic condition she may face from postpartum through menopause.
Founded through McGill University’s Surgical Innovation Program, the company is backed by 2048 Ventures, Investissement Québec, and Mayo Clinic Platform. Its founders have been featured in Forbes 30 Under 30, and its flagship device was recently recognized in Fast Company’s Health and Wellness Design awards, alongside some of America’s best-known companies, including Pfizer and L’Oréal,
“WEL truly believes in the founders they back. Rather than putting us through a process that slowed us down, their diligence made our raise stronger, and they’ve connected us with other women’s health investors along the way. That support, and their commitment to advancing women’s health research and investment, is why we’re proud to have them behind us,” said Inara Lalani, Co-Founder and CEO, femtherapeutics.
“Less than 3% of venture capital in Canada goes to women-led businesses, and you do not fix that by writing slightly more cheques,” said Sally Morris, Board Chair, Women’s Equity Lab. “You fix it by changing who is at the table and what they bring with them. Manitoba just set a national record for investor participation, and those same investors are motivated and engaged.”
Both companies are in women’s health, but WEL Manitoba is sector-agnostic. Its main requirements are that a company be Canadian, early-stage, and technology-enabled.
Its wider portfolio includes advertising technology company Taiv, ranked #4 on Deloitte’s Technology Fast 50 for 2025 and the largest recipient of PrairiesCan’s Business Scale-up and Productivity program in July 2026; fertility company Bird & Be, which launched in more than 300 Ulta Beauty stores across the U.S.; Sonaro, a 2026 CIX Startup Award recipient; 3D bioprinting company VoxCell BioInnovation; and Ginger Desk, acquired by healthtech company Jane App in June 2026.
Fund 3 is still investing and actively reviewing submissions, with the fund expected to close later this year. WEL Manitoba accepts submissions at manitoba@womensequitylab.com.
ABOUT WOMEN’S EQUITY LAB
Women’s Equity Lab (“WEL”) is a national network of women angel investors in Canada. The WEL investment model was built to challenge and change the outdated norms of early-stage investing where women have historically been underrepresented. It activates women’s capital by addressing traditional barriers to angel investing such as access to deal flow, specialized expertise, and gender bias. Our Learning on Investment™ (“LOI”) approach allows women to start investing while building expertise alongside a network of peers.
Since launching in 2017, WEL has grown into a bold and influential community of over 500 women investors, activating over $7 million in capital, including co-investments, across 97 investments in more than 75 early-stage companies. In the innovation economy where capital is power, WEL women are using theirs to shape the future they want to see. We’re not asking for equal representation. We’re building it. For more information about Women’s Equity Lab, visit womensequitylab.com.
ABOUT WOMEN’S EQUITY LAB MANITOBA
Women’s Equity Lab (“WEL”) Manitoba was founded in 2023 to bring the WEL model to women investors in the province. Operating as an investment group of the national Women’s Equity Lab network, WEL Manitoba sets its own local investment thesis and invests in Manitoba and across Canada, while drawing on the deal flow, mentorship, and collective expertise of WEL members network-wide. Its third fund closed fully subscribed in May 2026 with 62 limited partners, the largest investor group of any WEL fund to date. To learn more, visit womensequitylab.com/manitoba or contact manitoba@womensequitylab.com.
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