Venture capitalists have broken records every quarter this year, pushing more money into the startup ecosystem with bigger and bigger deals. Amid this funding frenzy, some female-founded companies are raising “mega rounds,” including Tia Health ($100 million), Maven Clinic ($110 million), and Insitro ($400 million). Overall, startups with a woman founder raised $25 billion in the first half of 2021—more than the total amount raised by women any full year prior.
It can seem like a moment of triumph for Silicon Valley, which has long been called a boy’s club. But percentage wise, the amount of venture capital going to female entrepreneurs is lower in 2021 than it has been for the last five years. That’s especially true for startups with all-female founding teams, which have raised just 2.3 percent of venture capital this year, according to Crunchbase. Startups with mixed-gender cofounders raised 11.7 percent of funding. In other words: 86 percent of venture funding still goes only to men.