The State of Women in Venture Capital: A 2023 Perspective
As we step into 2023, the landscape for women in venture capital and investment remains a challenging one. Despite the ongoing conversations about diversity and inclusion, the statistics tell a sobering story. According to Atomico’s State of European Tech report, the proportion of funding raised by women-only teams has plummeted from 3% to a mere 1% since 2018. This decline raises critical questions about the systemic barriers that continue to hinder women in the investment space.
The Rise of Female Business Angels
While the overall funding landscape may seem bleak, there is a silver lining: women are increasingly stepping up as business angels, actively investing in European startups. This trend is crucial, as female investors play a pivotal role in supporting underrepresented founders and diversifying the entrepreneurial ecosystem. Their investments not only provide financial backing but also foster a more inclusive environment for innovation.
Celebrating Active Female Business Angels
In light of this growing trend, here’s a spotlight on some of the most active female business angels over the past year, as identified by the team at EU-Startups. This list is by no means exhaustive, but it highlights the incredible contributions of women in the European investment landscape.
1. Ana Paula Reis
Ana Paula Reis is an entrepreneur and co-founder of BridgeWhat. With over 30 years of experience, she has held high-level positions and co-founded the SelPlus-Seldata group, managing over €900 million in client sales. Her expertise extends to venture capital as a former Co and Board Member of Bynd Venture Capital, where she was involved in deal analysis and strategic follow-ups.
2. Annalise Dragic
At just 29, Annalise Dragic became Europe’s youngest VC Partner at Sapphire Ventures. She focuses on new investments and assists portfolio companies, primarily in Europe and Israel. Her involvement in significant investments, including Cazoo and Wandera, showcases her impact in the VC space.
3. Céline Lazorthes
Céline is the founder and CEO of Leetchi Group and a founding member of France Digitale. An active business angel, she has invested in over 40 companies, including notable names like Jimmy Fairly and Talent.io, and regularly speaks on entrepreneurship and FinTech.
4. Deepali Nangia
As a Partner at Speedinvest, Deepali Nangia focuses on investing in underrepresented founders. She co-founded Alma Angels, a community supporting female entrepreneurs, and has helped invest nearly €3.4 million into female-led startups since June 2020.
5. Eleanor Kaye
Eleanor Kaye is the Executive Director of the Newton Venture Program, dedicated to leveling the playing field for individuals from overlooked backgrounds. Her advocacy for diversity in VC is evident in her mission to ensure that future venture investors reflect the diversity of society.
6. Emma Davies
Co-CEO of Octopus Ventures, Emma Davies oversees one of Europe’s largest VCs, managing around €1.5 billion. Her extensive experience includes building investment houses like J.P. Morgan and The Wellcome Trust.
7. Evie Mulberry
As Managing Partner of Astia, Evie Mulberry is committed to leveling the investment playing field for women-led entrepreneurial teams. She has been instrumental in the firm’s international expansion and focuses on early-stage investments.
8. Emilie Delecker
Emilie is dedicated to democratizing investments in food and climate through her work with the FoodHack syndicate. She aims to empower bold founders to access the resources necessary for impactful growth.
9. Eva-Valérie Gfrerer
Founder of Morphais, Eva invests in exceptional founders regardless of their backgrounds. Her focus on behavioral science and entrepreneurship drives her mission to build world-class companies.
10. Fiona Pathiraja
A medical doctor turned investor, Fiona is a Partner at Crista Galli Ventures, focusing on healthtech. With over 15 years in the NHS, she is passionate about driving innovation in healthcare.
11. Itxaso Del Palacio
Partner at Notion, Itxaso specializes in B2B SaaS investments. Her previous experience includes being an Investment Partner for M12, where she led investments in various tech companies.
12. Kerry Baldwin
Kerry is the Managing Partner of IQ Capital, with over 24 years of experience in deep-tech venture capital. She advocates for diversity and best practices in the VC space.
13. Janneke Niessen
A Founding Partner at CapitalT, Janneke is a serial entrepreneur and diversity advocate. She co-initiated InspiringFifty and is a prominent voice for women in technology.
14. Manon Sarah Littek
Founder of the Green Generation Fund, Manon is passionate about impactful ventures in foodtech and greentech, shaping the food revolution across Europe.
15. Marie-Helene Armstreiter
As a General Partner at Speedinvest, Marie-Helene leads the Industrial tech team and is a strong advocate for sustainability and diversity in the startup ecosystem.
16. Nicola McClafferty
Partner at Molten Ventures, Nicola has a background in cross-platform media and e-commerce, and she founded Covetique, an online marketplace for pre-owned luxury fashion.
17. Niamh Sterling
Investment Consultant for Ireland’s largest angel network, Niamh has over 20 years of experience in building successful companies and sourcing high-quality deal flow.
18. Lina Chong
Lina leads early-stage investments at Target Global, specializing in the German and Spanish markets. Her entrepreneurial background includes founding two successful businesses.
19. Selma Prodanovic
Vice-President of the European Business Angel Network, Selma has launched numerous brands and is a co-founder of the Austrian Angel Investors Association.
20. Lisa Barclay
As Executive Director of Nesta Impact Investments, Lisa has over 20 years of experience in impact investments and is passionate about driving business growth.
21. Luciana Lisandru
Partner at Sequoia Capital, Luciana invests in pioneering European founders and has been involved in significant investments across various sectors.
22. Sophia Bendz
General Partner at Cherry Ventures, Sophia has a rich background in investment and entrepreneurship, including her role as a former Global Marketing Director at Spotify.
23. Ulla Brockenhuus-Schack
Managing partner at Seed Capital Denmark, Ulla has extensive experience in innovation and business development, having worked with several startups as an advisor.
24. Yonca Braeckman
Founder and CEO of Impact Shakers, Yonca is dedicated to inclusive entrepreneurship and has been recognized as one of the “Top 100 Women in Social Enterprise” in 2022.
25. Yvonne Bajela
Yvonne is a Founding Member and Principal at Impact X Capital, focusing on investing in underrepresented entrepreneurs. Her recognition by ‘Forbes 30 Under 30’ underscores her influence in the field.
If you believe other remarkable women deserve recognition, feel free to nominate them by reaching out to EU-Startups.
To stay updated on Europe’s entrepreneurial stories, tech events, and funding opportunities, consider joining the EU-Startups CLUB. You can also explore the 2022 list of 100 inspiring women in the startup and venture capital space.