Today the Department for Business and Trade has published its annual Investing in Women Code which finds that venture capital fund managers who have signed up to the Code are more likely to invest in female founders.
32% of all venture capital deals made by Investing in Women Code signatories were in female-founded companies last year, compared to the market average of 28%, revealed in the latest report published today. This is the fourth year in a row that Investing in Women Code signatories have outperformed the wider market.
The Investing in Women Code was founded in 2019 as a landmark government-led initiative in response to the Rose Review’s findings that a lack of funding was one of the most significant barriers to women seeking to effectively scale a business. Investing in Women Code Partners include the British Business Bank, British Private Equity & Venture Capital Association (BVCA), UK Business Angels Association, UK Finance and Responsible Finance. Code Partners are responsible for managing data collection and reporting, on behalf of government.
Mint Ventures is one of over 250 organisations who have signed up to the Code, showing the growing numbers of lenders and investors committed to increasing the levels of finance directed towards women-led businesses. Equal access to finance will boost the potential of female founded businesses and deliver on this Government’s priority to grow the economy.
Jenny Tooth OBE, Executive Chair of the UK Business Angels Association, said:
“With an increasing number of our Angel groups signing up to the Code, including a growing number of groups with a strong proportion of women angels, we can see the impact on women founders seeking and finding angel investment across the UK. Signatories are attracting increased level of women founders into their pipeline, whilst, for the first time, deals in women founders have surpassed the number of deals in male founders accessing investment, achieving over half the deals and share of investment from the Angel group signatories.
The results from signing the code are clear to see, but we have much more to do to enable all women teams to access their full share of investment. We will be working to ensure that many more of our Angel groups identify the benefits of being part of the Investing in Women Code community in the year ahead.”
Find out more and download the report from our resources page: https://lnkd.in/eg_PudvG
