It was founded in 1987 by New Zealander Anne Firth Murray, and co-founded by Frances Kissling and Laura Lederer to fund women's initiatives around the world.

Since 1988, the foundation has awarded over $100 million in grants to over 4,000 organizations supporting progressive women's rights in over 170 countries.

Ramdas ended her 14-year tenure at the Global Fund in September 2010, and was succeeded by Musimbi Kanyoro in August 2011.

[5] Latanya Mapp Frett, who previously served as executive director of Planned Parenthood Global, was appointed president and CEO of the Global Fund for Women in June 2019, a role she held through the end of 2023.

[9] Funds that support the Global Fund for Women are raised from a variety of sources and are awarded to women-led organizations that promote economic security, health, safety, education and leadership of women and girls.