Angel Investor: Only Funding Startups That Have Female Founders

women founders startup

One angel investor wants an investment portfolio full of women. Jonathan Sposato, a Seattle-based entrepreneur and the CEO of photo editing software PicMonkey, made a bold announcement last week at the Seattle Angel Conference that he’d only fund companies with one or more female founders. Women often have a more difficult time securing funding—numbers from CrunchBase show that companies with female founders only make up about 19% of seed and angel investments, and that number dwindles down as companies progress to each funding stage. But the good news is the number of female founders are on the upswing. According to that CrunchBase data, the percentage of startups with at least one female founder rose from 9.5% in 2009 to 18% in 2014. “Female entrepreneurs do have a harder time getting traction—whether that’s raising money, getting their concepts across, or even recruiting,” Sposato said in an interview with Mashable. “You can’t just take those issues and not do something about it. If you feel passionate about something, you have to be the catalyst.” Sposato says part of the problem comes from investors’ tendency to pattern match, or support startups that resemble other successful companies they funded that got off the ground. […]

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