Varde Founder Closes First Fund Betting on Women Money Managers

MPowered Capital, the investment firm built by Varde Partners co-founder Marcia Page, closed its first fund designed to back women and minority alternative-asset managers.

MPowered raised $110 million from family offices, foundations and investment consultant firms, the Minneapolis-based company said Tuesday in a statement. The figure also includes $25 million from Page, who pledged to put up $75 million of her own money to back emerging managers.

Page, 62, founded Varde in 1993 and helped build it into a firm overseeing more than $14 billion. She established MPowered in 2021 to address what she said was broad acknowledgment ...