Last year, venture capital actually increased for female founders from 2.2% to 2.7%, but that's still incredibly low when compared to what male founders received.
According to Fortune Magazine, male founders received $110.17B compared to $3.54B that went to female founders.
WeWork alone received $5B, which is $1.5B more than all the VC investment that went to female founders, think about that for a second.
Here are some more stats that build the case for investing in women, according to this article in Forbes, "10 Stats That Build The Case For Investing In Women-Led Startups":
Startups founded or co-founded by women generated 10% more in cumulative revenue over a five-year period despite the funding gap
Businesses that are founded by women deliver higher revenue. Two times as much per dollar invested compared to businesses founded by men
Private tech companies with women at the helm have 35% higher return on investment, when venture-backed, and 12% higher revenue than startups run by men
So why don't more VC funds go to women?
This is a question Leslie Goldman, Co-founder and General Partner of The Artemis Fund, was asking herself for years. It got to the point when her and her other co-founders, Diana Murakhovskaya and Stephanie Campbell, decided that a fund was needed to specifically invest in female founders.
The Artemis Fund is based in Houston with a satellite office in Park City, UT. The group launched with a $20M fund last year and has already led a $2 million round in the California-based mobile app, U-Nest, that aims at helping users develop college savings plans.
You might think that the investment numbers are low for women, because there just aren't as many female-led companies. But according to Leslie Goldman, "We are getting an influx of applications (200-300 per month) from all different sources: founders, VCs, incubators, syndicates, angel groups, etc. all over the country."
And why open a satellite office in the Salt Lake City/Park City area? "Utah is magical. Park City is awe-inspiring. We have been coming to Park City for years and I have always wanted to set some roots here. I love the outdoors and the community has been overwhelmingly welcoming. And there is a concerted effort by community members to bring more innovators, founders and funders to Utah. I, of course, want to focus on the gender diversity aspect," Leslie Goldman said.