Calling all female investors: Even as women-run venture capital firms have sprung up over the past few years, there’s plenty of room for more, female VCs say.
That was the message last week during a panel of women investors at Fortune’s Most Powerful Women Next Gen Summit in Laguna Niguel, Calif.
“I think there’s room for 20, 40, 50 funds that are just for women,” said Nisha Dua, a general partner at BBG Ventures, a women-led firm that invests in startups with at least one female founder. (BBG stands for “built by girls.”)
Dua said she is often asked to explain how BBG differentiates itself from the handful of other women-focused funds that exist, a question she thinks would not apply to the plethora of male-run VC firms, which have historically invested mostly in startups run by men. “Would you have asked Sequoia how they’re different from Benchmark?” Dua questioned, referring to two of the leading Silicon Valley VCs, both of which have male founders.
Just 2% of venture capital funding went to female startup founders last year. But that could increase if more women were in charge of the investment decisions: “Data shows that a female partner is more likely to invest in a female founder,” Dua added.
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