IDC European Woman in Venture Capital

EUROPEAN WOMEN IN VC IDC #EUR148997722 © IDC 2022 71 Source: IDC Research European Women in VC; n=303 VCs AuM >€25M, n=822 GP’s Work — 4 stars Money — 4.5 stars Knowledge — 4.5 stars Time — 3 stars Power — 3.5 stars Women in Belgium start from a good position, and are especially well positioned in the Money domain. In the domain of power there is ground to be gained in the share of ministers as well as board members at financial institutions. Being the host of the European Union’s headquarters, its position in gender equality is below expectations when it comes to power as well. GP Balance — Belgium Belgium Firepower Male 88% Female 12% 90% 10% Diversity from a Funding Perspective • The balance between male and female general partners in Belgium is above the European average; actual ability to fund startups is below average for female fund managers.  • Though the government announced specific plans to promote equality, the sector does not show much progress yet. Initiatives to turn this around include:  • Febelfin, the Belgian financial sector federation, launched the ‘#InclusionInFinance’ campaign, addressed to all employees of the sector, at all levels, with the aim of bringing concrete, positive change to the workplace. The campaign offers a set of tools to create an inclusive workplace. However, no concrete goals have been communicated.  • Belgium hosts Women in Finance, which has the mission to raise awareness of diversity and inclusion and promote gender balance at all levels within the financial sector.  Startup Perspective • Belgium has some fluctuations in funding rounds that went to female led or mixed team led startups, with 2019 as a positive outlier.  • Belgium has seen several startups with a female founder or mixed team. Indigo Diabetes, founded in 2016, received most funding and has the highest valuation.  BELGIUM #of startups from >=2010 that that received funding Source: Dealroom Startup Data Male Female Mix 2017 2018 2019 2020 2021 84 % 4 % 12 % 84 % 78 % 89 % 85 % 4 % 7 % 2 % 6 % 9 % 12 % 15 % 9 %