Published on March 5, 2014
Finding the Bright Spots Shereen Shermak Launch Angels CEO & Active Angel The Easiest Way to a Venture Portfolio
Tweet out your Bright Spot #fundwomen @launch_angels @shrubed Shereen Shermak @changds David Chang @karaemiller Kara Miller @ellen_rubin Ellen Rubin @julespieri Jules Pieri 2
A ‘not so bright’ spot. 7 8 4.2 to 7% of VC funding goes to women-led businesses 3
Bright Spot 1 Barriers fall when old policies change Female Engineers Female Engineers 5 years Male Engineers Male Engineers Carnegie Mellon increased the number of female engineering students from 7% to 42% …in less than 5 years 4
Bright Spot 1 PayPal Start Tank ensured a gender diverse selection committee Over 1/3 of the companies in previous Start Tank cycles had women founders. In the newest batch, 6 out of the 14 startups have women founders. 5
Another ‘not so bright’ spot: Using the same exact pitch… Men are 40% more likely to receive funding than women. 6
Bright Spot 2 ‘Blind auditions’ increase diversity From the 1970s to 1990s, women increased from 10% to 35% 7
Bright Spot 2 Crowdfunding enables nearer ‘gender blind’ evaluations *UK 8
People naturally favor people like themselves • Dominant groups overall tend to form more relationships • These relationships are how VCs find entrepreneurs and allocate capital • NYU study in 2011 found VCs are more likely to select startups with coethnic executives for investment, particularly when the probability of the startups’ success appears low (and are of lower observable quality). 9
Bright Spot 3 Diverse investors leads to diverse investments Women Angels 25% 22% 20% 17% 15% 12% 11% 13% 12% 10% 5% 0% 2007 2008 2009 2010 2011 2012 In 2012, 16% of entrepreneurs seeking angel capital were women, 25% received investments. 10
Increasing VC capital controlled by women improves chances for women-led ventures Female venture capitalists are forming their own funds Rivet Ventures Women’s Venture Capital Fund Launch Angels 11
Launch Angels Women-Led Fund Enabling Action • Raising capital from Angels now • Fund closes in March Make Immediate Impact • First investment in April Investment Goals • Women-led • Women-backed • Women-friendly 12
The easiest way to a venture portfolio. www.launch-angels.com | firstname.lastname@example.org @launch_angels 13
Sources 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. Angel Resource Institute, Silicon Valley Bank & CB. Oct. 16, 2013. Insights Q2 2013 Halo Report. Retrieved from http://www.cbinsights.com/blog/trends/angel-investmentdata-q2-2013 Koetsier, J. Feb. 19, 2013. Rise of the Angel Investor Infographic. Retrieved from http://venturebeat.com/2013/02/19/the-rise-of-the-angel-investor-infographic/ Sekhon, S. May 1, 2013. Crowdfunding Statistics and Trends Infographic. Retrieved from http://blog.gogetfunding.com/crowdfunding-statistics-and-trends-infographic/ Crowdfunding Intermediary Regulatory Advocates. Apr. 8, 2013. Studies Show 81% Jump in Crowdfunding and a $3.98 Billion Crowdfund Investing Market. Retrieved from http://www.cfira.org/?p=2184 Sohl, J. Apr. 25, 2013. The Angel Investor Market in 2012: A Moderating Recovery Continues. Retrieved from http://blog.gogetfunding.com/crowdfunding-statistics-andtrends-infographic/ Ibid Ibid Kerr, W. Apr. 15, 2010. The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis. Retrieved from http://hbswk.hbs.edu/item/6347.html Farrell, M. Apr. 26, 2013. Women boosting funding of start-ups. Retrieved from http://www.bostonglobe.com/business/2013/04/25/more-women-writing-checks-fundstart-ups/z8pgHQdNiEL0dhdzDPCykM/story.html Information for Development Program/The World Bank. Oct. 24, 2013. Crowdfunding’s Potential for the Developing World. Retrieved from http://www.infodev.org/crowdfunding Casserly, M. Apr. 25, 2013. Tipping the Scales: Women Angel Investing Reaches All-Time High. Retrieved from http://www.forbes.com/sites/meghancasserly/2013/04/25/tipping-the-scales-women-angel-investing-reaches-all-time-high/ Ewing Marion Kauffman Foundation. Nov. 2009. Where Will the Jobs Come From? Retrieved from http://www.kauffman.org/~/media/kauffman_org/archive/researchreport/2011/4/where_will_the_jobs_come_from.pdf Angel Capital Association. July 15, 2013. New SEC Rules Could Kill Angel Investing, Hurt Startups, and Hinder Job Growth. Retrieved from http://online.wsj.com/article/PRCO-20130716-908735.html Center for Venture Research. Apr. 25, 2013. The Angel Investor Market in 2012. Retrieved from https://paulcollege.unh.edu/research/center-venture-research/cvranalysis-reports Stengel, G. May 29, 2013. 5 Ways to Get More Entrepreneurs on the World’s Most Powerful Women’s List. Retrieved from http://www.forbes.com/sites/geristengel/2013/05/29/5-ways-to-get-more-entrepreneurs-on-the-worlds-most-powerful-women-list/ Baum, S. Apr. 25, 2013. Proportion of Women Angel Investors Rose in 2012. Retrieved from http://medcitynews.com/2013/04/report-proportion-of-women-angelinvestors-rose-in-2012/ Casserly, M. Apr. 25, 2013. Tipping the Scales: Women Angel Investing Reaches All-Time High. Retrieved from http://www.forbes.com/sites/meghancasserly/2013/04/25/tipping-the-scales-women-angel-investing-reaches-all-time-high/ Stengel, G. Jan. 30, 2013. Why Crowdfunding is a Game-Change for Women Entrepreneurs. Retrieved from http://www.forbes.com/sites/geristengel/2013/01/30/whycrowdfunding-is-a-game-change-for-women-entrepreneurs/ Ibid Alois, J. Mar. 7, 2013. Women Are More Successful at Crowdfunding Startups. Retrieved from http://www.crowdfundinsider.com/2013/03/11376-women-are-moresuccessful-at-crowdfunding-startups/ Information for Development Program/The World Bank. Oct. 24, 2013. Crowdfunding’s Potential for the Developing World. Retrieved from http://www.infodev.org/crowdfunding Crowdsourcing.org. (n.d.) Retrieved from http://www.statista.com/statistics/251577/growth-in-the-number-of-crowdfunding-platforms-by-category/ 14
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