IDC European Woman in Venture Capital

EUROPEAN WOMEN IN VC IDC #EUR148997722 © IDC 2022 92 THE BALTICS Work — 4 stars Money — 1 star Knowledge — 2 stars Time — 3 stars Power — 2 stars Women in the Baltics have an average starting position when it comes to gender equality. The differences per country are substantial. Though Lithuania ranks low now with respect to macro-economic indicators, there is a more positive outlook with a female led parliament and being home to the female co-founded unicorn Vinted. GP Balance — Baltics Firepower Male 94% Female 6% 95% 5% The Baltics, similar to the CEE region, has a low level of female GPs. There is limited data available on female funding and female VCs as in general the funds in the Baltics are smaller. There are not many VCs with AuM >€25M. Those funds that are more sizeable often do not have female GPs, Lithuania being the exception. As such in most countries female partners do not make up more than 6% of the GPs. This share is reflected also in funding in female hands; female GPs manage only 5% of assets. The Estonian market presents reasonable opportunities for females when it comes to gender equality. However, Estonia lists only 3 VCs with AuM of >€25M but none of them were founded by a female GP. Estonia does create visibility around its female entrepreneurs. The starting position for females in Latvia is solid, though lacking in some areas. Similar to the other Baltic countries, there are not many VCs with funds >€25M. The one VC with funds over €25M does not have any female GPs. There are several initiatives to decrease gender inequality and stimulate growth for women in business. Though the starting position of women in Lithuania is low, there are signs of change. The 2020 parliamentary elections marked a turning point in Lithuania’s political parity. Today, 27% of seats are held by women, and the government’s cabinet is now the most gender- balanced as well as the youngest in Central and Eastern Europe. Source: IDC Research European Women in VC; n=303 VCs AuM >€25M, n=822 GP’s