Our Seed 40 list, in its fifth year, spotlights the women who have done exactly that: find breakout talent early, and work alongside these founders to shape the future of tech. This year's honorees have placed bets across some of 2025's hottest verticals, from AI to health tech.

Trish Costello is the founder and C.E.O. of Portfolia, a women-focused investment platform that is fueling health care innovations aimed at improving women’s lives.

Portfolia, a venture capital firm focused on diverse investment opportunities, has closed its third femtech fund at $4.15 million, with contributions from 249 limited partners.