Closing the gender gap in venture capita funding ain't just good for equality - it's good for the global economy.
Background: Female-founded businesses received just 2.1% of venture capital cash in 2021 in the US.
What happened: But, a new study by Citigroup says that if women-led businesses were supported as much as men-led businesses, we could boost global GDP by as much as US$2 trillion.
What else: There are ways to get there, Citigroup says. And it starts with improving opportunities for women entrepreneurs and having more women in roles that allow them to make investments.
💡 Females in the startup space face a chicken and egg scenario that needs to be cracked.
💡Data shows that men prefer to invest in companies run by other men. It be unconscious bias... or it may even be conscious bias. But, because female-led startups find it harder to raise money than male-led startups, fewer women enter the entrepreneurial pipeline.
💡 This means there are less female founders and female venture capitals. And, without a large supply of female venture capitalists, women-led startups continue to struggle to find funding. So, the change really starts with VC partners at the top.
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