VCs, Founders, and the Performance Gender Gap

In this paper, Dr. Raina compares the gender gap in performance between startups initially financed by syndicates led by VCs with only male GPs and startups financed by syndicates led by VCs with female GPs.

The author finds a much larger performance gap among startups financed by syndicates with only male lead GPs and shows that this disparity is driven by differences in VCs’ ability to evaluate female-led startups. The author’s findings imply that VCs contribute to the performance gender gap in startups.

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