RESEARCH TRIANGLE PARK – So far 2020 is proving to be a bad year for female founders when it comes to raising venture capital even though overall VC funding hasn’t suffered much if at all during the pandemic.
So says Pitchbook.
“While overall US venture capital investments in 2020 are on par with previous years, those funds haven’t necessarily reached female business owners, dealing them a disproportionate blow. Investments in women-led companies this year are on pace to be the worst since 2017,” the private equity and venture funding news site says.
The third quarter was the lowest in three years for women-led firms, Pitchbook adds.
“When it comes to unraveling systemic racial and gender bias in the investment community, this data affirms that we are only at the beginning of a very long and difficult fight,” said Melissa Withers, who co-founded RevUp Capital in 2015.