SAN FRANCISCO — Two years ago, fed up with stories of harassment and discrimination in Silicon Valley, a group of female venture capitalists formed a nonprofit called All Raise to focus on women’s equality. This week, the group raised $11 million toward a target of $15 million from backers including Pivotal Ventures, the investment firm of Melinda Gates; the Reid Hoffman Foundation; and GGV Capital. The industry began adding more female investors, who now make up 13 percent of the venture industry, compared with 9 percent before. Venture capital funding going to women entrepreneurs stagnated over the last year at around 12 percent. Women own just 11 percent of founder and employee equity in start-ups, according to a study conducted by Carta, a financial technology start-up.

Source: New York Times November 30, 2020 18:01 UTC