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US All In: Female Founders in the VC Ecosystem

2023

US All In: Female Founders in the VC Ecosystem

March 6, 2024

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US female founders grab record share of VC dollars

Female founders increased their share of US VC capital raised in 2023, according to the latest US All In: Female Founders in the VC Ecosystem report sponsored by Deloitte, Pivotal Ventures, and Wilson Sonsini.

  •  Female founders and co-founders secured 27.8% of deal value last year. That figure drops to 22.8% if you exclude OpenAI’s $10.0 billion raise, but it still marks a record high.
     
  • In absolute terms, deal activity fell along with the broader venture market, with female founders securing 25.0% fewer deals.
     
  •  At the GP level, the share of female check writers at the largest VC firms grew slightly to 17.4%.  


A European edition of the All In report, sponsored by UBS, Shoosmiths, and Enterprise Ireland, is also available for download.


Table of contents
Executive summary 4
Overview 5
A word from Deloitte 7
Representation at the GP level 9
Female investor spotlight 10
By the numbers 11
Country breakdown 12
A word from Pivotal Ventures 13
Female angel investment 15
Female-founded unicorns 16
The exit scene 18
A word from Wilson Sonsini 19
Key takeaways 21