Our new ?????? NEWSLETTER
European Women in VC
Community of like-minded individuals working towards increasing number of women in VC management roles.
Our 2023 Report Reveals the Power of Diversity
Welcome to October 2023 edition of our Newsletter!
This is what we’ve been up to ????♀?
We kicked things off with a dynamic start by unveiling our latest report. The launch event was held at Tech BBQ in ???? Denmark, where we also hosted a lunch for 120 individuals. During the event, we fostered valuable connections between ecosystem leaders, GPs, LPs and stakeholders. Huge THANK YOU to Mazanti-Andersen , LGT Capital and NGP Capital for their support.
Since launch, together with our members and supporters, we are busy disseminating the report findings at event across Europe:? Private Equity Europe Forum in London, Women’s Private Equity Summit Europe in Windsor,?INNVEST ?in Tirana,?WVC.E?in Paris, and we have also been at?The Drop ?in Malmo.???
Now, let's dive into our 2023 report , shall we? ?? We've got some exciting news to share about the wonderful world of diverse investment teams in the growth and venture space. It's not just about numbers; it's about creating a better future! Now, let's break down some of the key findings from our report:
1. Drumroll, please! ?? The more women you have in European VC senior management teams, the steadier the ship! We're talking lower volatility in fund portfolio returns – it's a win-win.
2. Brace yourselves for this one: every 10 percentage point increase in women's representation means a 1.3 percentage point boost in the IRR of a VC fund. It's like a secret recipe for success – sprinkle in some diversity, and watch your returns grow!
3. Now, let's chat about corporate strategies. Only half of the VC firms we surveyed have a plan for gender diversity. But here's the catch – these strategies often miss the mark on career development and leadership opportunities for women. We think it's time to step up the game and communicate those diversity and inclusion (D&I) strategies both inside and out. Let's keep track with those trusty key performance indicators (KPIs)!
So, there you have it – our report is all about the positive impact of diversity in the world of investment, and we're excited to see positive change on the horizon. Let's make diversity more than just a checkbox; let's make it a strategic imperative for a brighter future! ??
You can download the full report here .
???? People who inspired us lately
Congratulations to an incredible scientist, female leader and role model: Professor Katalin Karikó on being awarded the ? Nobel Prize in Medicine ? shared with Professor Drew Weissman.
Katalin succeeded despite being “kicked out and forced to retire” 10 years ago. She continued on her mission and achieved what most scientists aspire to!
The Nobel Prize committee said: "The laureates contributed to the unprecedented rate of vaccine development during one of the greatest threats to human health in modern times." as mRNA vaccines were introduced during COVID 19 pandemic.
Listen to Katalin Kariko and Drew Weissman explain the story behind mRNA vaccines . And read Katalin’s inspiring story in The New York Times .
Their research is now used to develop customised targeted vaccines i.a. against cancer by companies like BioNTech , a leader in personalised immunotherapies using mRNA technology to treat cancer and novel diseases. BioNTech had one of the largest VC funding rounds in European Biotech history at $325m in 2019!
Another Nobel Prize was won by the incredible Anne L’Huillier , who became the fifth woman to win the Nobel in Physics, joining a small but notable group of women that includes Marie Curie and Maria Goeppert Mayer.
Anne L’Huillier worked together with Pierre Agostini and Ferenc Krausz, on attosecond physics and experiment techniques that could lead to advances in electronics and medical diagnostics. Read more here .
And finally, this year's Nobel Prize in Economics was granted to Claudia Goldin , economics professor at Harvard University. For her incredible work studying women's labor and the gender wage gap.
Claudia provided the first comprehensive account of women’s earnings and labor market participation through the centuries. Her research reveals the causes of changes in the remaining gender gap in salaries and their main sources.
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Claudia has also made history as the first woman to receive the award individually!
Dive into this Harvard Business Review article to read about her findings that impact society so greatly.
In other news ??
It gets even more interesting (or concerning). In 2022, a whopping 77% of venture funding for new AI companies went to businesses without any female founders. When women did secure funding for their AI ventures, they raised just a sixth of what their male counterparts did.
One big factor contributing to this imbalance is that women represent only around one-fifth of the professionals in data science and AI fields in the UK, as highlighted in the report. And, sadly, this underrepresentation extends into the world of venture capital as well.
Clearly, there's a lot of work to be done to level the playing field, but it's also an opportunity for positive change and growth in these fields. Let's keep supporting and encouraging diversity in AI and tech! ??
Read The Times article .
If you do, here's some exciting news! By nominating them for the UBS Female Founder Award, you're not just giving them a shot at winning a cash prize, but also providing access to our exclusive investor readiness training program.
Interested in learning more about these awards and how to submit an application? Simply follow the link ! ??
Clare Murray , one of the co-founders of Blume Equity, expressed her delight, saying, "We're over the moon to partner with EIF, along with other incredible investors like Fj?rde AP-fonden (AP4) (the Swedish National Pension Plan) and Visa Foundation . With EIF's substantial investment in our first-time fund, the European Union is sending a clear message of commitment to both environmental causes and fostering growth in Europe's startup ecosystem. This partnership is a big step forward in our mission to support entrepreneurs dedicated to addressing the climate emergency while maintaining a profit with purpose approach." ??
This Hamburg-based startup is making waves by raising a whopping €36.6 million to ramp up the production of their environmentally friendly plastic alternative. With this investment, they're set to build a brand-new demonstration plant.
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