In today’s soul-crushing statistical update: for every £1 of venture capital investment in the UK, less than 1p goes to all-female-led founder teams. By contrast, all-male founder teams get 89p, and mixed-gender teams get the remaining 10p.
Those cherries come courtesy of a report released in London last month by the British Business Bank, BVCA and Diversity VC. As Francesca Warner, CEO and co-founder of Diversity VC, a nonprofit organization promoting diversity and inclusion in venture capital, told Vogue: “It’s an unfortunate reality that all-female and mixed-gender founding teams are getting far less funding than all-male teams. There are numerous reasons for this: there are a relatively low number of senior women in technology who are starting companies, and a comparatively low proportion of the tech workforce are women. Female founders are seen by venture capitalists as less experienced than their male counterparts, even when they have been working for the same number of years in an industry.”