One of Aotearoa’s most prolific angel investors—not to mention, our Global Women Chair—Theresa Gattung is shining a light on the lack of investment towards female founders.
This comes as a new report designed to look at the state of venture capital funding was initiated and funded by Theresa and fellow investor and entrepreneur Jenny Rudd.
The report showed that for every 100 start-ups it invested in, 11 were founded by women.
Aotearoa New Zealand was missing out on $32 billion worth of economic growth
It’s not just women missing out.
The trend compounds when looking at the public sector. For every 100 start ups the Crown’s New Zealand Capital Growth Partners (NZCGP) invested in, seven were founded by women — compared with 72 by men and 22 of mixed-gender ownership. Madison Reidy notes the latter is typically a couple.
“…when [women] get further down the line, the capital is allocated differently” — Jenny Rudd.
“I’m disappointed, but not surprised,” shares Theresa Gattung on the findings.
“I actually don’t think that women have better ideas, or men have better ideas, that would be crazy to suggest that they do. It’s just when they get further down the line, the capital is allocated differently,” shares Jenny Rudd.
It’s an issue that can spark progress from many directions. Theresa notes that as investors, they are part of the equation and hold a key to the solution. “We’re not pointing the finger,” she notes in her kōrero with Madison Reidy.
“If women don’t agitate for women, don’t fight for women, we can’t expect men to do it” — Theresa Gattung
Reporting on the gender make up of each business an investment fund invests in to ensure no more than 60% percent was an idea the duo had to improve the equity of investment.
“This is an opportunity,” Theresa shares. “If women don’t agitate for women, don’t fight for women, we can’t expect men to do it.”