Dawn Dobras and Margaret Coblentz closed their debut venture capital fund, Capital F Fund I, in August 2026. The $17 million fund invests in companies fueling the $15 trillion female economy across health, AI trust and safety tools, and digital commerce.
Capital F co-founders and General Partners, Margaret Coblentz and Dawn Dobras
The Backstory on Capital F
Dobras first met Coblentz in 2010 when the two worked in the ecommerce division at fashion retailer Charlotte Russe. Dobras went on to hold C-suite roles at Zobha, Decorist, and Credo Beauty, where she served as CEO until 2021. Coblentz took an entrepreneurial path, founding luxury knitwear brand Frances Austen in 2017 and eventually selling it in 2021.
The career retail operators joined forces in 2023 to launch venture firm Capital F. Both women were actively investing prior to their move to venture—Coblentz is a founding member of The Council Angels, a community of operators who invest in founders tackling real-world problems, and Dobras is also an active angel investor.
The Capital F website lists 17 investments the two made, pre-Fund I, with two exits: The Cool Down, a digital media and commerce startup focused on climate, sustainability, and lifestyle content; and Early Day, an online career marketplace and talent recruitment platform for the Early Childhood Education industry.
