There is an uncomfortable truth in the venture capital industry that runs awkwardly against its meritocratic aspirations: it is harder for women to raise money than it is for men. Since 2005, only 9.7 per cent of venture-backed founding teams in the US have included a woman, and far fewer were led by one. Other data suggests a similar conclusion.
What’s the reason for this? Rarely, but sometimes, I’ve seen it come from an unabashed bias about women’s ability to be as productive as men. Generally this relates to concerns that having or raising children will be a distraction. I believe this kind of bias is in substantial decline, however, as younger generations of investors rise to prominence.