January 27

These Investors Want to Back ‘Ridiculously Early’ Female-Led African Startups

In 2019, female-led companies received less than 5 percent of the global venture capital. Bringing it to Africa, only 10 percent of the West African startups that cumulatively raised $1 million had at least one female co-founder in the past decade.

There are many stats to back up the underrepresentation of women in starting a company, raising money and general involvement in technology where the global tech workforce comprises 28.8% women.

In a male-dominated space, programs geared toward supporting female entrepreneurs have emerged to close the gap on all fronts. However, for those centered around female founders, most are quick to offer mentorship and training but tend to ignore the importance of raising money.

Photo courtesy of Joslyn Pickens.

Source: TechCrunch (link opens in a new window)