IDC European Woman in Venture Capital

EUROPEAN WOMEN IN VC IDC #EUR148997722 © IDC 2022 62 DENMARK Source: IDC Research European Women in VC; n=303 VCs AuM >€25M, n=822 GP’s #of startups from >=2010 with funding Source: Dealroom Startup Data Work — 5 stars Money — 4 stars Knowledge — 4.5 stars Time — 5 stars Power — 4 stars The starting position of women in Denmark, as in the other Nordic countries, is high.  Compared to the other Nordic countries, Denmark scores somewhat lower on Power, though still far above the European average. GP Balance — Denmark Denmark Firepower Male 87.5% Female 12.5% 97% 3% Diversity from a Funding Perspective • Denmark has a good starting position when it comes to gender equality. Denmark also ranks quite highly when it comes to the balance of male and female general partners. Actual access to funding though is slightly below average; few of the female partners are GP level at one of the larger funds.  • Several initiatives have been started. In 2021, 8 leading VCs signed a Diversity Commitment, with a focus on increasing investments in female or mixed gender teams and creating more gender diversity in the organisations, investment teams and the partner group. For the partner group this target is set at 25%.  • Unconventional Ventures is a strong advocate for diversity in the Nordics, with annual reports on diversity in the startup & VC funding landscape in the Nordics. Startup Perspective • The Danish startup market was strongly stimulated by COVID-19 grants from the Innovation Fund Denmark, which directed over €40 million to Danish startups.  • The number of female-led startups is increasing slightly; the number of mixed gender teams is growing more rapidly.  • Denmark may have two new role models in Mai-Britt Zocca and Inge Marie Svane, whose startup IO Biotech with its IPO in 2021, is now valued at approximately €300M. Male Female Mix 2017 2018 2019 2020 2021 91 % 1 % 8 % 82 % 83 % 86 % 76 % 4 % 4 % 6 % 7 % 17 % 13 % 13 % 8 %