After about 30 years supporting the Greater Boston startup community, The Capital Network is reassessing its role in the ecosystem as it encounters funding challenges, according to the nonprofit’s former executive director and president.
Kat Lawlor took over as leader of The Capital Network at the start of 2023 to expand the nonprofit’s work. The Capital Network helps female and other first-time founders of early-stage startups navigate the funding process through education, programming and mentorship opportunities.
Tuesday night, Lawlor posted on LinkedIn that she had parted ways with the nonprofit. She wrote that The Capital Network is “undergoing a strategic review to determine its future within the ecosystem, primarily due to funding challenges arising from the economic conditions.”
“Although I have officially parted ways with them, I continue to provide assistance in navigating their next steps. However, I want to emphasize that I am actively seeking new opportunities and am readily available for immediate employment,” Lawlor wrote.
Lawlor declined to comment further. Board chair Asad Butt, who has been a member of the organization’s board of directors since 2021, also declined to answer questions at this time.
Prior to Lawlor, The Capital Network was led by Marie Meslin, who joined the nonprofit as a program director in 2015 and stepped down as executive director and president at the end of 2022.
When she came to The Capital Network, Lawlor said her vision was to expand the nonprofit’s reach by serving entrepreneurs across the U.S. and other underrepresented founders beyond those that identify as women. Lawlor was previously the founder of an e-commerce apparel company and executive director of Entrepreneurship for All (EforAll) in Lynn.
Lawlor helped open up the organization’s fellowship for female founders to participants around the U.S. This year, the six-month program was held virtually for the first time. Its Demo Day took place in April. The Capital Network says more than 90 fellows have taken part in this program since 2016 and 50% have been founders of color.
The Capital Network also hosts fundraising readiness workshops and an investment and inclusion series.
Lawlor also previously told BostInno that one of her goals was fundraising to build the size of the nonprofit’s three-person team to run these programs.
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