Walk into a venture capital firm a decade ago, and you’d likely see a room full of suits, most of them male. Fast forward to 2025, and the scene’s changing—women are carving out space in the high-stakes world of VC, both as investors and founders. It’s not just anecdotal; the numbers tell a story of slow but real progress. From more women calling the shots at VC firms to female-led startups hitting unicorn status, the data shows a shift, even if the road to parity is still long. Let’s break it down and see how women are rewriting the VC playbook.
The Funding Landscape – A Persistent Gap
The venture capital world has historically been a tough nut to crack for women. In 2024, startups founded solely by women snagged just 2.3% of global VC funding—$6.7 billion out of $289 billion. Mixed-gender teams fared better, securing 14.1% or $40.7 billion. Compare that to all-male teams, who walked away with a whopping 83.6%. It’s a stark divide, but the numbers hint at progress: in 2023, women-only teams got 2.1%, and a decade ago, it was even lower.
The Leaky Pipeline
Dig deeper, and the funding gap widens at later stages. At seed stage, women-only teams got 3.2% of capital in 2024, but by Series C and beyond, that dropped to 1.8%. The average deal size tells a harsher story: $5.2 million for women-led startups versus $11.7 million for men. It’s not just about getting funded—it’s about getting enough to scale. This “leaky pipeline” means women face tougher hurdles as their companies grow, often running leaner operations just to survive.
Bright Spots in Deal Volume
Here’s where it gets interesting: deal count is a different beast. In the U.S., women-founded startups made up 5.4% of VC deals in 2024, up from 3.8% in 2008. In Europe, the share climbed from 2.7% to 5% over the same period. That’s more women getting a foot in the door, even if the checks are smaller. The growth in deals—outpacing all-male teams by over double—shows women are pitching and winning more often.
Women as Investors – Breaking the Glass Ceiling
It’s not just founders making waves; women are climbing the ranks within VC firms. In 2025, 17.3% of decision-makers at U.S. VC firms with over $50 million in assets are women, holding steady from last year. Smaller firms show even more promise, with women taking on more partner roles. A few years ago, less than 5% of leadership spots globally were held by women—today, that number’s climbing, with women and nonbinary individuals doubling their presence in top roles at major firms.
Women-Led Funds on the Rise
Women are also launching their own VC funds at a rapid clip. From 2022 to 2024, 333 women-led funds raised $14.84 billion across 26 countries. In 2023 alone, 179 funds closed on $5.29 billion, though 2024 saw a dip to $3.87 billion amid a tough fundraising market. Still, women-led funds grabbed 4.13% of global VC fundraising in 2023, up from 2.8% in 2022. Half of the 387 women-led firms tracked in 2025 were founded in the last five years, proving this isn’t a blip—it’s a movement.
Industries and Regions Leading the Way
Not all sectors are equal when it comes to women’s success. EdTech leads with 34.7% of companies having at least one female founder, followed by digital health at 29.3% and climate tech at 21.7%. These mission-driven fields attract women, but funding doesn’t always follow—EdTech’s female founders got just 21.5% of the sector’s capital despite their strong presence. Meanwhile, high-valuation sectors like AI and cybersecurity, where women make up less than 10% of founders, get the lion’s share of cash.
Regional Hotspots
Geography matters too. In Europe, Sweden (4.6%), Spain (4.1%), and France (3.9%) lead in funding women-only teams, while Germany (1.9%) lags. In the U.S., New York (3.1%) and Los Angeles (2.9%) outshine Silicon Valley (2.0%). Emerging markets like Kenya (7.9%) and Colombia (5.7%) show surprising strength, thanks to less entrenched VC networks and a focus on impact investing.
The Performance Edge
Here’s the kicker: women-led startups aren’t just competing—they’re outperforming. Studies show female-founded companies deliver 63% better ROI than male-led ones, and those with at least one female founder outperform all-male teams by 96%. In 2024, women-founded startups accounted for 24.3% of U.S. VC exits, a record high, and 13 reached unicorn status, taking a median of 4.2 years compared to 4.5 for the broader market. So why the funding gap? Bias and old networks still hold sway, but these numbers make a case for change.
Challenges and Opportunities
Despite the gains, barriers remain. Anti-DEI sentiment and economic headwinds could stall progress, especially for early-stage startups where women’s funding dropped in 2024. Compensation gaps persist for women VCs, and megafirms managing over $10 billion often lack women in top roles. Yet, the rise of female-focused funds like Halogen Ventures and accelerator programs is fueling a 22% deal share for female founders, particularly for women of color, though they face even steeper gaps.
Looking Ahead – A New Narrative
The numbers paint a picture of progress with plenty of work left. Women are proving their worth as founders and investors, delivering outsized returns and building firms that challenge the status quo. To close the gap, more women need access to decision-making roles, and investors must lean into data showing diverse teams win. With female-led funds and startups gaining traction, the VC world is inching toward a future where talent, not gender, calls the shots.
