Antler, a leading global early-stage venture capital firm, is taking significant steps to address the gender imbalance in entrepreneurship and increase the representation of women founders in the startup ecosystem. With a unique position at the top of the founder funnel, Antler actively scouts, invests in, and supports women founders, aiming to create a more gender-diverse landscape for later-stage investors.
Venture capitalists often express their desire to invest in more women-founded startups but face limitations due to the proportion of women-led teams they encounter in their deal flow. Antler recognizes this challenge and has taken a proactive approach to shape the gender mix of entrepreneurs at the very beginning of their startup journey. By headhunting and screening existing and prospective entrepreneurs into Antler cohorts, the firm facilitates the formation of co-founding teams and supports them in validating their business models on the path to securing investment.
Antler’s impact is reflected in the numbers. Each year, Antler Australia selects a cohort of over 200 founders out of thousands of applicants, investing in approximately 30 teams. Remarkably, 80% of these teams go on to raise external capital within 12 months of Antler’s initial investment. In terms of gender diversity, historical cohorts have included 25% women founders, and at least one woman founder has been involved in 37% of Antler Fund I’s investees. These businesses have accounted for 39% of follow-on rounds, representing $24 million of the $100 million in external capital raised across the Fund I portfolio.
The significance of gender diversity in entrepreneurship goes beyond mere representation. It is widely recognized that diverse teams and decision-makers yield better economic and investment outcomes. However, the 2022 State of Australian Startup Funding revealed that women founders accounted for only 23% of deal volume and a mere 10% of invested capital. The World Economic Forum’s Global Gender Gap Report predicts that at the current pace, it will take 132 years to achieve gender parity, underscoring the urgent need for action.
While Antler’s commitment to diversity extends beyond gender to encompass broader themes such as ethnicity, nationality, and LGBTQI+ representation, the firm acknowledges that gender metrics still lag behind other diversity measures. Antler believes that improving the gender balance among leaders and decision-makers will have a positive ripple effect, fostering diversity, equity, and inclusion across various dimensions.
Antler is committed to driving change and empowering women founders through a set of guiding principles. These principles include leveraging collective thought and experimentation, setting specific objectives, showcasing successful women investors and founders as role models, providing practical guidance and insights, recognizing the role of men in championing gender equity, using inclusive language, fostering an inclusive everyday environment, collecting and sharing data, equipping founding teams with diversity and inclusion principles, and securing senior buy-in through a dedicated Diversity & Inclusion Council.
By embodying these principles, Antler demonstrates its dedication to advancing gender diversity in entrepreneurship. By actively supporting women founders from the earliest stages of their startup journey, Antler aims to create a more inclusive and equitable startup ecosystem. Through their efforts, they strive to achieve better economic outcomes, address the gender imbalance in funding, and inspire future generations of women entrepreneurs.
