IDC European Woman in Venture Capital

EUROPEAN WOMEN IN VC IDC #EUR148997722 © IDC 2022 64 SWEDEN Source: IDC Research European Women in VC; n=303 VCs AuM >€25M, n=822 GP’s Work — 5 stars Money — 3.5 stars Knowledge — 5 stars Time — 5 stars Power — 5 stars The starting position of women in Sweden is the strongest compared to all other countries. The only area where they score relatively low is “Money”. This is mainly due to income distribution and the economic situation. GP Balance — Sweden Sweden Firepower Male 81% Female 19% 94% 6% Diversity from a Funding Perspective • The GP balance in absolute numbers in Sweden is above average. Actual ability to invest by female partners though is quite below average. The fact that the country scores highly on gender equality is reflected in the number of female General Partners, but not in the actual investment firepower.   • There are several initiatives to boost female access to funding. Recent initiatives come from female-led VCs such as BackingMinds, which raised €60M to invest in female entrepreneurs. Another Swedish initiative is “Time to Raise”, an initiative supported by SEB, Microsoft for Startups, WeWork, Sircular and Invest Stockholmto support female entrepreneurs. • Kinnevik, one of the larger VCs, sets an example with a sustainability director, and places a lot of emphasis on its diversity & inclusion strategy. Kinnevik became the first investor globally to be awarded the Diversity VC Level 2 Standard. Startup Perspective • Sweden has quite a substantial number of female co-led startups, of which Einride, Gysynta Pharma, Stockeld and Doconomy currently hold the largest valuations.  • The number of male-only led startups has decreased by 6% over the past 5 years, creating more room for mixed-gender and female-led startups.    • Pernilla Nyrensten was the first woman to list on the Stockholm Stock Exchange with the IPO of RevolutionRace, valued at $1B.  #of startups from >=2010 that that received funding Source: Dealroom Startup Data Male Female Mix 2017 2018 2019 2020 2021 82 % 8 % 10 % 80 % 78 % 79 % 76 % 10 % 7 % 8 % 9 % 15 % 10 % 15 % 13 %