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Female founders getting record high share of VC capital

Female founders in the US and Europe had record-high shares of VC capital raised in 2023, even as a decline in deals made the business of raising money the toughest it’s been in years, financial data firm PitchBook reports.

US female founders and co-founders secured 27.8% of deal value last year. That figure drops to 22.8% if you exclude OpenAI’s $10.0 billion raise, but it still marks a record high, the company says.

In absolute terms, deal activity fell along with the broader venture market, with female founders securing 25.0% fewer deals.

At the general partner financing level, the share of female check writers at the largest VC firms grew slightly to 17.4%, the company reports.  

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Funding for European female founders showed resilience in a down year. Female founders captured 25.8% of deal count and 20.5% of deal value in 2023—both records, although investment fell in absolute terms.”

“Deals for European female-founded companies grew more than twice as fast as deals for all-male-founded companies over the past decade.”

PitchBook says just 15.2% of decision-makers at large European VC firms are women. 

“However, healthcare-focused investors tend to have better representation.”

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