Female-founded FinTech’s accounted for 17% of the UK’s total FinTech venture capital investments in 2020. Although this figure is actually 6% more than 2019, it still shows a massive need for improvement.
There are so many reasons why female founders still make up a minority of FinTech VC funding in the UK – and globally.
And this is exactly what we discussed on our recent webinar what what can be done to drive change.
Lucy Heavens, Co-founder, RegTech Women moderated the discussion to explore the cognitive and unconscious bias in the VC investment chain.
We welcomed an expert panel from the FinTech industry including Katherine Wilson, Investor at Illuminate Financial, Kate Bohn, Incubator and Accelerator Lead at Lloyds Banking Group and Colleen Becker, Principal at Redsand Ventures to explore:
- The number of female owned businesses is rising, but the amount of venture capital that went to female owned businesses doesn’t seem to be rising at the same pace… why is this?
- What impact has the pandemic had on VC investments?
- Is there an unconscious bias when it comes to the investment process?
- The pitching process – a recent study by Deloitte found that venture capitalists often posed different questions to men and women entrepreneurs. Men were more likely to be asked about the potential for gains, while questions toward women focused more on the potential for losses. Interestingly, this happened whether the investors were men or women. Other ways bias is sometimes displayed includes when women entrepreneurs are encouraged to bring men colleagues to investor meetings. Is there a difference according to gender in the way founders pitch to investors? What can be done to improve this?
- Where can female founders find investors or advice in general?
If you missed the webinar and are interested to learn the answers to these question, watch the replay below.