Today I Read about the Venture Capital (VC) initiative to increase women’s access to VC funding
Quick Summary: 38 VC firms (including Two Sigma Ventures, Bain Capital Ventures and Tusk Ventures) agree that action needs to be taken to increase access to start-up capital REGARDLESS of gender, race, sexual orientation or any other characteristic. Identifying that the biggest problem is with networking- the fact of the matter is that men get more meetings than women- the VCs each agree to take meetings with 8 women outside of their networks throughout the month of March.
Big Takeaway: Women are sorely underrepresented in VC: only 2% of VC funding went to female founders and only 8% of partners at top VC firms are women.
Something I did not know: Only 18 black women have have EVER raised more than $1m in VC funding for their startups.
Makes me feel/think about: This is absolutely awesome, but it must continue beyond the month of March! This cannot just be symbolic, it is an opportunity to actually change access to networks and funding. I commend each of the VC firms for kicking off a great initiative, but I truly hope this spreads to other industries in and out of tech- this is exactly the kind of action that we need to increase the presence of women in business!!!