Women account for only 17.4% of all decision-makers at venture investors headquartered in Southeast Asia, finds the latest report by DealStreetAsia – DATA VANTAGE.
Moreover, about 67% of SE Asian investors still don’t have a woman in an investment decision-making role, according to Women in SE Asia’s VC Ecosystem 2023. While a cause for concern, the figure is still an improvement from 2022, when about 77% of investors lacked a single female cheque writer.
The report defines an investment decision-maker as one with the authority to lead deals, sign cheques and sit on company boards. It covered over 380 venture investors – venture capital firms, venture debt providers, angel investment platforms, incubators and accelerators – that provide early to late-stage funding to startups in the region. Of these, over 300 investors are headquartered in Southeast Asia.
In another encouraging sign, the number of women in decision-making roles at regional venture firms has gone up 15% to 123, the latest edition finds.
However, the abysmal ratio of female to male cheque writers shows there is much work to be done yet. VCs interviewed for the report explained how the gender investing gap manifests itself and perpetuates the issue.
“For me, the trickiest part of being a woman in a male-dominated industry is that you’re still the exception rather than the rule. It’s very seldom about outright discrimination… More often, it’s the way you’re ignored in a meeting, or asked to manage the schedule, or the questions you’re asked – and the constant wondering if a man would have been asked the same questions or treated the same way,” said Jennifer Ho, a partner at Singapore-based Integra Partners, about her experience in the industry.
Others pointed to a clear correlation between the lack of diversity at investment firms and the gender funding gap in the region. A DATA VANTAGE report in March revealed that female founders in Southeast Asia received only 12.6% of all private capital raised in 2022.
“In the past, male VCs rejected startups such as Pinterest, Stitch Fix, and Bumble because they didn’t feel excited or connected to the problem being solved. This highlights the importance of diversity in thoughts and experiences brought by female investors,” said Ansible Ventures founding partner Valerie Van Vu.
Among the Southeast Asian markets, Vietnam was home to the investors with the highest proportion of female cheque writers, while Singapore was home to the most number of such investors.
The report also looked at gender diversity among regional and global venture investors that have backed companies in Southeast Asia. Of these, about 47.8% do not have a single female cheque writer, compared to 66.6% in 2022.
However, the ratio of female to male decision-makers at these firms was worse than that seen among SE Asia-headquartered investors. According to a PitchBook – Beyond the Billion report, female investors accounted for 16.1% of all VC decision-makers in the US in 2022.
The Women in SE Asia’s VC Ecosystem 2023 report is available exclusively to DealStreetAsia – DATA VANTAGE subscribers. Subscribe/upgrade your subscription now to access our entire set of reports.
