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Today: July 14, 2024
January 11, 2024
1 min read

Unleashing Potential: Only 7% of Web3 VC Funds Boosted Women-Led Startups

TLDR:

  • Female-led startups in the Web3 sector received only 6.43% of Web3 venture capital (VC) funding in the past two years.
  • Male-led startups received $26.08 billion in funding, while female-led startups received only $1.77 billion.

According to a report by Bitget Research, female-led startups in the Web3 sector received only 6.43% of the $27.85 billion in Web3 VC investments from Q1 2022 to Q3 2023. This figure is significantly lower than the overall percentage of women in startups in various fields. Male-led startups received $26.08 billion in funding, while female-led startups received only $1.77 billion.

A “female-led blockchain startup” in this study refers to a blockchain startup where at least 50% of its executives were women. Despite the recovery of funding for blockchain firms in general, the report highlights the need for comprehensive measures to increase the inclusiveness and accessibility of the blockchain sphere for women. The study also found that female founders in the U.K. receive an even lower proportion of VC funding, with only 3% allocated to them.

This gender disparity in funding can be attributed, in part, to biases against feminine-stereotyped behaviors exhibited by female entrepreneurs. Venture capitalists, who are predominantly male, have been found to exhibit this bias in a study conducted by Canadian and American researchers. It is crucial to address these biases and promote gender diversity in the Web3 sector to ensure equal opportunities for female entrepreneurs.

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