It is widely known that women, and especially women of color, are bearing the brunt of the pandemic.
The pandemic has already undone what limited progress has been made, setting gender equality back decades. Women have been hit both economically and socially, they are not just vulnerable in terms of job losses, but have been disproportionately burdened with unpaid childcare and household work.
Another side effect of the pandemic has been the ~substantial~ drop in funding for female founders (& women owned businesses).
The drop in funding for women entrepreneurs wasn’t part of an overall decrease in VC funding. For a lot of the tech industry, the pandemic provided a big boom as working from home became widespread: from work from home technology, delivery platforms and more!
In fact, as Fortune Magazine found, in 2020 startups as a whole raised 13% more from VCs than in 2019 (Pitchbook found that the annual total of capital VC invested was $150 billion).
This drop is especially disheartening considering funding for female founders was finally on an upward trend pre- pandemic.
What do you think of the fact that the women's share of the pie shrank to 2.2%?
