I think a venture firm that privileges woman ran startups with a focus on women-markets would be great. After all who does most of the spending in a household? Remember that web apps represents only a tiny tiny fraction of consumers' expenditures.
If we're playing the household card, then there are plenty of women-led kitchen table startups that will never see, nor need, venture funding. There are also plenty of women-led startups that don't focus on female markets, and male-led startups that do, inadvertently or otherwise (time for a quote about how most car purchases are down to the woman in the household).
