Each year on the 8th of March, we see from around the world and within Southeast Asia, how we steadily close the gender gap in traditionally male-dominated fields. While we celebrate the small wins and stories of women breaking barriers, we must continue to reflect on where we can do better.
Within VC funds, studies continue to show that women are severely underrepresented on investment teams (~34%) and that senior leadership roles are consistently largely filled by men (~77%). In 2023, startups with at least one female founder in Southeast Asia secured a cumulative total of $1.41 billion in equity funding or ~18% of the total private capital secured. While this is a slight increase from the 2022 performance of ~13%, there is still a long way to go.
Many recognize the gender gap is there - more LPs have begun committing to advancing women in a more systematic way (see: 2x Challenge), and DE&I talking topics have become more mainstream as studies continue to demonstrate how diversity breeds innovation and optimized returns - but more needs to be done, and should be done to reap dividends.
But how?
Within your portfolio, we can start with taking a pause and questioning potential unconscious biases that we might have when choosing founders to back. Do we tend to lean more towards founders that look and talk like us? We can also begin to think critically about the potential impact of investing in a business on underrepresented or unrepresented groups. Could a startup providing Earned Wage Access help garment factory workers that are traditionally female access financial resources? How can we help to systematically track and drive further social impact of our startups on those that need it most?
At both the fund level and within your portfolio, we can start with ensuring that there are robust employee feedback systems so that leadership teams can take an iterative approach in ensuring that all voices are heard and acted upon where appropriate.
It’s also always good to identify strong female role models within the organization as that helps to drive greater mentorship for younger female talent and helps to drive buy-in on potentially more diverse thought-leadership from the top. When it comes to recruitment and talent management, we can start with reevaluating hiring practices - reshift focus to the top of the funnel while recruiting for junior roles, recruit mid-to-senior talent laterally from related industries and work on increasing transparency around pay, fixing gender pay gaps where found. No one wants to feel like their work is valued less than a counterpart’s. We want to be able to create an environment where women feel that they are valued as much as their male colleagues.
In general, don’t leave men out of the conversation. To have a truly inclusive workplace, everyone needs to be at the table and have a say at the table. This could mean we endeavor to offer flexible work arrangements and offer matching maternity and paternity leave. This also means we should use best efforts to drive male leadership buy-in on developing thinking around DE&I strategies.
Read more at: “Closing The Gender Gap in Private Capital” report 2024 by SVCA and BCG (Access here)
Each year on the 8th of March, we see from around the world and within Southeast Asia, how we steadily close the gender gap in traditionally male-dominated fields. While we celebrate the small wins and stories of women breaking barriers, we must continue to reflect on where we can do better.
Within VC funds, studies continue to show that women are severely underrepresented on investment teams (~34%) and that senior leadership roles are consistently largely filled by men (~77%). In 2023, startups with at least one female founder in Southeast Asia secured a cumulative total of $1.41 billion in equity funding or ~18% of the total private capital secured. While this is a slight increase from the 2022 performance of ~13%, there is still a long way to go.
Many recognize the gender gap is there - more LPs have begun committing to advancing women in a more systematic way (see: 2x Challenge), and DE&I talking topics have become more mainstream as studies continue to demonstrate how diversity breeds innovation and optimized returns - but more needs to be done, and should be done to reap dividends.
But how?
Within your portfolio, we can start with taking a pause and questioning potential unconscious biases that we might have when choosing founders to back. Do we tend to lean more towards founders that look and talk like us? We can also begin to think critically about the potential impact of investing in a business on underrepresented or unrepresented groups. Could a startup providing Earned Wage Access help garment factory workers that are traditionally female access financial resources? How can we help to systematically track and drive further social impact of our startups on those that need it most?
At both the fund level and within your portfolio, we can start with ensuring that there are robust employee feedback systems so that leadership teams can take an iterative approach in ensuring that all voices are heard and acted upon where appropriate.
It’s also always good to identify strong female role models within the organization as that helps to drive greater mentorship for younger female talent and helps to drive buy-in on potentially more diverse thought-leadership from the top. When it comes to recruitment and talent management, we can start with reevaluating hiring practices - reshift focus to the top of the funnel while recruiting for junior roles, recruit mid-to-senior talent laterally from related industries and work on increasing transparency around pay, fixing gender pay gaps where found. No one wants to feel like their work is valued less than a counterpart’s. We want to be able to create an environment where women feel that they are valued as much as their male colleagues.
In general, don’t leave men out of the conversation. To have a truly inclusive workplace, everyone needs to be at the table and have a say at the table. This could mean we endeavor to offer flexible work arrangements and offer matching maternity and paternity leave. This also means we should use best efforts to drive male leadership buy-in on developing thinking around DE&I strategies.
Read more at: “Closing The Gender Gap in Private Capital” report 2024 by SVCA and BCG (Access here)
