IDC European Woman in Venture Capital

EUROPEAN WOMEN IN VC IDC #EUR148997722 © IDC 2022 3 FOREWORD Welcome to the inaugural pan-European report on the venture capital ecosystem from a gender perspective. 2021 was again a record year for startups and venture capital funds, with over €100 billion Invested in tech companies in Europe. It was also a record year for VC funds, which raised nearly €20 billion. For the first time ever, female General Partners were able to raise significant commitments for the VC funds they manage, including €500 million fo r JEITO (France), €250 million for Revaia ( France), €90 million for Crowberry (Iceland), and €150 million for Livonia (Lithuania). While this is a cause for celebration, the venture market is still far from equal access to capital for female managers and equal access to wealth creation, and it is ultimately female wealth creation that will to a large extent fuel the female led VCs and startups of tomorrow. There are still many obstacles on the way. The report highlights the imbalance for European female VC managers in access to capital, the definition discrepancy across jurisdictions in the role of Managing/General Partner, and the unequal access to carry for females. As for female-led startups, even though again less than 2% of VC money was invested in them, still there is good news coming from across the Atlantic. Chief recently became a unicorn just 3 years after founding. Moreover, 2021 was a record year for female-led exits and IPOs, including Bumble , 23 and Me , and Spanx . Female-led Darktrace IPOed at close to €2 billion in London. And let’s not forget that results can go in pair with positive impact. In Europe, thanks to the many years of research work of ÖzlemTüreci a nd Katalin Kariko , the BioNTech vaccine was fully rolled out, saving the lives of millions and at the same time creating enormous value for the founders and shareholders. The post-pandemic and war-engulfed European continent needs investment, resources, and positive change. Women are builders of society, keepers of peace and enablers of positive impact. Recent catastrophic events could also be catalysts for future positive change. The pandemic has reinvigorated investor interest in biotech and life science, while these sectors lead in female VC and startup presence. Synergies with data and analytics can now drive early detection, personalized treatments, pharmaceutical trials, and much more. Society experiences positive impact. Technology sovereignty focus should bring about more investment into deep tech and real science-based solutions that are so much needed for the progress of society. Here again women can play a leading role as scientists, researchers, and company founders. The ongoing war in Europe has brought energy security and energy sources to the top of the European agenda. Can the European stakeholders see value in quickly moving towards renewable sources of energy: hydrogen, solar and wind as well as nuclear to the benefit of moving to net zero and fighting climate change, and for the health and well-being of Europeans? Again, female investors and female founders can lead the way in climate neutral solutions. We are happy to present to you the first ever report on diversity in the venture space in such a complex way. Let the presentation of the data and year-to-year market analysis be a stimulus to drive change, let it be a call for action to reshape capital flows in Europe! Thank you to all the mission-aligned Partners and Supporters! Sincerely, KINGA STANISŁAWSKA Founder of European Women in VC, General Partner of Experior VC ANNA WNUK Head of Community of European Women in VC