In the Nordic countries, growth companies set up by women received about one per cent of the venture capital capital flowing into the region.
Women Whereas the risk investment situation of start-ups has deteriorated in the midst of a coronavirus pandemic; says the Pitchbook database for investors.
Pitchbook is a private, U.S.-based company that collects information on growth companies and funding rounds.
According to Pitchbook, women’s risk funding in the third quarter has fallen to its lowest level in three years in the United States. In the first quarter of the year, when 200 women-owned growth companies were invested in the United States, the figure was 136 in July-September.
In the Nordic countries, too, growth companies set up by women attract only a small proportion of all investments, says Unconventional Ventures, a Danish private equity firm. recent report.
Last year, 93 percent of venture capital flowed into growth companies whose founders are men. 6 percent of the funding pot went to teams founded by both men and women.
1.3 per cent of risk finance went to growth companies whose founders are women.
The figure of 93% also reflects the high amounts raised by male-led growth companies.
Helsinki resident Investment Director of the private equity company Maki.vc Pauliina Martikainen says the reasons behind the figures are structural.
“Globally, there are fewer women working in technology. For example, education and parenting models are affected. Being able to build a growth business as a woman also requires social and financial capital. I hope that the number of women-led growth companies will increase. ”
Everyone applying for funding must be offered an opportunity free of prejudice, Martikainen says.
“We at Maki have, for example, been trained in latent presuppositions so that we are not affected by presuppositions about entrepreneurial frameworks when evaluating investment.”
According to Martikainen, it would also help if there were more and more different people working in private equity companies internationally.
“The world of venture capital is traditionally masculine. Often, finance students or those who have worked in the finance industry have ended up in this industry. But now it is understood that versatility is needed both for the analysis phase and for working with growth companies. ”
Women According to the organization Tech in Finland, the gender of study places and industries in Finland is strong. In Finland, the proportion of women who have started training in technology is the lowest in the OECD countries, the organization informs.
According to the organization, 19 per cent of those who have started training in technology are women and 22 per cent of technology workers in Finland are women.
Women in Tech is currently run by the Inclusive Organization. Founder of the organization Katja Toropainen hopes that more and more people will be excited to become growth entrepreneurs.
“The challenges are that the technology sector may not seem like an attractive area for high school girls, for example. At that point, many drop out of the chain at an early stage. Discrimination in the field of technology must also be eliminated. “
Women also need to be allowed to stay and enjoy themselves in the industry, Toropainen says.
“According to a report by Accenture and Girls who code, in the United States, for example, 50 percent of women in technology leave before age 35.”
Venture capital company Inventory partner Ekaterina Gianelli says the situation will change as more and more women start, run and own businesses. Gianelli is known to be the first woman in Finland to be a shareholder in a startup fund.
“According to the U.S. Kauffman Fellows Research Center, a company with a female founder hires 2.5 times more women than a founder group where everyone is a man,” Gianelli says.
“If we accelerate the advancement of women into leadership roles, our ecosystem will become much more balanced. I challenge Finnish technology companies to hire women for the management team. ”
Through her work, Gianelli has noticed that many women working in technology are interested in investing in growth companies.
“When women also have the power to decide where to invest, more women entrepreneurs are funded. 50% of Finnish funds do not have any women on investment teams. ”