Meet the New Wave of VCs Championing Female Founders
Meet the New Wave of VCs Championing Female Founders
As of 2023, one in three venture capital deals in Australia involved a female founder, according to a report by Cut Through Ventures. However, a quiet revolution is taking place. Female founders and CEOs are gaining the spotlight, supported by a growing number of venture capitalists and funds dedicated to having a distinctly female focus.
Firms like Blackbird Ventures, Giant Leap, and initiatives like Verve Super and Future Generation Women are not only helping female founders scale their businesses but also reshaping the Australian investment landscape. Despite these efforts, gender disparity remains a challenge—only 4% of total VC funding in Australia was allocated to female-led startups in 2023, despite women owning nearly one-third of all businesses, according to SBE Australia.
Change Makers
Rachel Yang (Giant Leap)
Rachel Yang, a partner at Giant Leap, has spearheaded impact investing in Australia. Giant Leap’s exclusive focus on purpose-driven businesses, combined with Yang’s advocacy for gender-inclusive strategies, has positioned the firm as a leader in supporting women-led initiatives. Giant Leap has invested in female-led businesses such as Lumi, an ethical finance platform, and Circle In, a workplace support platform for working parents.
Tanya Rolfe (Sophia Ventures)
Tanya Rolfe is the co-founder of Sophia Ventures, a VC firm dedicated to investing in female-led businesses. Sophia Ventures focuses on bridging the funding gap for women entrepreneurs, proving that gender-lens investing can generate competitive financial returns. Some of the startups backed by Sophia Ventures include SheSays, a career mentorship platform for women, and Prakti, a health tech company focused on women’s wellness.
Helen Lynch (Scale Investors)
As a key figure in Scale Investors, Helen Lynch is helping to change the funding landscape for women-led startups. Scale Investors provides early-stage capital, mentorship, and a supportive network for female entrepreneurs, ensuring they get the resources needed to scale their businesses. Companies supported by Scale Investors include SpeeDx, a female-founded biotech firm, and Adatree, an open banking startup co-founded by women.
Susan Bannigan (Impact Investing Australia)
Susan Bannigan, Chair of Impact Investing Australia, has been a strong advocate for increasing female participation in investment and entrepreneurship. She works to drive capital into projects and businesses that support women and economic inclusivity. Impact Investing Australia has backed ventures such as Nightingale Housing, a sustainable housing initiative, and The Social Outfit, a social enterprise that provides employment opportunities for refugee women.
Verve Super
Australia’s first ethical superannuation fund founded by women, for women. Verve Super focuses on companies leading in gender equity and sustainability. By addressing the retirement savings gap between men and women, Verve Super is empowering women to take control of their financial futures. Verve Super invests in companies such as Atlassian, a tech company with strong gender diversity policies, and NextEra Energy, a renewable energy leader with a commitment to inclusion.
Future Generation Women
Launched in December 2024, Future Generation Women is Australia’s first investment fund managed entirely by an all-female team. The fund invests in companies with strong gender equity records and donates 1% of its assets annually to nonprofits advancing women’s economic equality. Some of its portfolio investments include Canva, a female-founded global design platform, and Bellamy’s Organic, a women-led organic food company.
Female-Founded Startups Outperform
Studies show that companies with at least one female founder outperform their male-only counterparts across multiple metrics. According to a BCG report, female-founded startups generate 10% more revenue per dollar invested compared to male-founded companies. Furthermore, research by First Round Capital found that companies with a female founder performed 63% better than those with all-male founding teams.
The success of female founders can be attributed to various factors, including strong capital efficiency, customer-centric business models, and innovative leadership styles. A 2022 McKinsey report reinforced this, stating that gender-diverse executive teams are 25% more likely to achieve above-average profitability. Similarly, a Harvard Business Review study found that female-founded startups achieve 35% higher return on investment (ROI) compared to male-founded startups.
Funding Challenges Facing Female Founders
Despite these advancements, female founders in Australia still face challenges in securing funding. Women are launching businesses at twice the rate of men but often receive less attention from male-dominated VC circles.
A 2023 report from SBE Australia revealed that only 4% of total VC funding in Australia went to female-founded startups, despite women owning nearly one-third of all businesses. The disparity is even more pronounced in later funding stages, where female-led startups struggle to secure growth capital compared to their male counterparts. According to research by the Australian Investment Council, male-led startups receive, on average, 60% more funding than female-led ventures, despite similar performance metrics.
A 2021 PitchBook study also found that female-founded businesses globally receive less than 2% of total VC funding, illustrating that this is not just an Australian issue but a worldwide challenge.
The Road Ahead
The Australian venture capital space is at a turning point, with female-led initiatives gaining momentum and reshaping the industry. Funds like Verve Super and Future Generation Women, combined with the leadership of women like Amanda Stiles, Rachel Yang, Susan Bannigan, Tanya Rolfe, and Helen Lynch, are proving that investing in women is not just socially impactful but also financially rewarding.
At Investability, we are proud to spotlight and support this shift, and we’re excited to see how these efforts transform the industry for generations to come.
