Spectrum Equity Principals Emily Calkins and Annaliesa Routh have been recognized on the 2025 GrowthCap Top Women Leaders in Growth Investing list.

“Women in senior positions across firms play a pivotal role in advancing the asset class, excelling not only in investment acumen but also in other key strategic areas such as value creation, platform development, investor relations, and firm operations,” said GrowthCap in an official statement. “The Top Women Leaders in Growth Investing award recognizes a highly select group of individuals who have demonstrated sustained excellence in their areas of expertise and have earned the enduring respect of their peers and stakeholders. Selection for this recognition reflects a rare combination of talent, work ethic, judgment, and character.”

Both awardees were previously recognized for their leadership on the list in 2024; Emily Calkins was also recognized in 2023.

Emily Calkins: Awardee Bio

“The right question, posed by someone you trust, can be among the most valuable things in the world; in my work supporting our companies and connecting with entrepreneurs, I strive to bring that to the table each day.” - Emily Calkins

Emily Calkins is a Principal at Spectrum Equity. She joined Spectrum in 2021 after graduating from Stanford GSB and focuses on investing in bootstrapped, growth-stage software and data services companies. Emily works closely with a number of teams across the Spectrum portfolio — as a current Board Member to a new and unannounced investment, a former Board Member to Litmus which she helped navigate the sale of this year, an Advisor to SponsorUnited which she catalyzed in her first year at the firm, among others. Emily leads with a distinct emphasis on genuine relationships—focusing on cultivating true partnership in every aspect of her role: with portfolio company CEOs, entrepreneurs more broadly, and every member of Spectrum’s internal team. This capacity for relationship-building is a hallmark of her work and a key ingredient to her strong track-record in sourcing and origination.

Emily’s experience with growth-stage companies spans beyond her time at Spectrum; prior to joining the firm, she originated and executed several investments for Mainsail Partners as both an Associate and Senior Associate, and held roles in the Investment Banking Department at Credit Suisse. Emily also worked at AllTrails, a Spectrum portfolio company, during her years in business school.

She holds an MBA from Stanford Graduate School of Business, where she was Co-President, Commencement Speaker, and recipient of the Arbuckle Award for distinguished leadership, and a BA with Honors Distinction from Williams College.

Annaliesa Routh: Awardee Bio

“I’ve learned that the best partnerships start with curiosity and respect – those values build the trust that makes everything else possible. That mindset defines how we work at Spectrum: listen carefully, ask the hard questions, and be useful where it matters.”

Annaliesa is a Principal in Spectrum Equity’s Boston office, where she focuses on partnering with growth-stage software and data services businesses. She joined Spectrum in 2020 and has been a key board contributor to investments including Rapid Ratings, Tenstreet, and a leading sales enablement platform. Known for her curiosity-first mindset and commitment to genuine relationship-building, Annaliesa is a trusted partner to founders, helping them navigate the journey from strong product-market fit to repeatable, scalable growth.

Her board experiences have positioned her as a leader in investment efforts around data in technologies in transportation and logistics, supply chain, fraud & risk, and wealth technology. She also has a particular interest in marketplace models, vertical data and SaaS, and healthcare technology. Prior to Spectrum, she worked at Thomas H. Lee Partners and is a graduate of the University of Virginia and Harvard Business School, where she earned her MBA with Distinction.

Read more about the full list of awardees here: The Top Women Leaders in Growth Investing 2025

Spectrum Equity submitted the nomination to be considered for the 2025 GrowthCap Top Women Leaders in Growth Investing and has paid a fee to promote/distribute this award after designation was announced 06/2025.