Two founding partners have departed from AllBright Capital, the UK's flagship female founder fund, according to Sifted. The departures mark a significant shakeup for the £100 million fund that launched in 2021 with the mission of backing women-led startups.

The departures include Niamh O'Brien, the fund's investment director, and Rachel Lee, a partner who had been with the firm since its inception. Sources indicate the exits were not entirely amicable, with reports suggesting internal disagreements over investment strategy and fund direction. The fund had previously made headlines for its ambitious goal of achieving gender parity in venture capital.

AllBright Capital has yet to announce replacements for the departing partners. The fund's portfolio includes several high-profile women-led companies, and investors are closely watching how these departures might affect future dealmaking and the fund's ability to meet its diversity targets. Industry observers note that leadership changes at this level could impact the fund's momentum and relationships with founders.