With the Me Too movement and the notorious boy’s club mentality of Silicon Valley, it seemed that change was inevitable and long overdue. The industry is slowly waking up to the fact that accepting more women is not only fair but also beneficial for business.
However, the increase in women involved in VCs is on the up, albeit slowly. According to Recode, American venture capital firms have added 30 new female senior investing partners in the last ten months.
Yet about three-quarters of U.S. venture capital firms still have zero women partners. Among the 153 firms that do boast a woman partner, three-quarters of these firms have one woman in a senior leadership position.
In a recent interview on The Sociable with Nikki Hallgrimsdottir, co-founder of Algo.ai, the world’s first supply chain analyst bot, when asked what advice she has for women entering the entrepreneurial world of business she states “Reflecting on all of my experience so far, to distill it down I would say: go for it. Women are still a minority in the tech industry which means we still have some uphill battles, and the only way to keep climbing that hill is to keep going.”
She adds “Take advantage of opportunities, put yourself out there, make yourself well known in your organization or your industry. Cultivate your skills and constantly keep learning. Cultivate relationships with people that see your potential, because no one is an island and a good network is essential.”
While there is still a long way to go before men and women are equal in the world of VCs, there are some women who have created a strong career in this industry and have done an incredible job of proving their talent and ambition. One of which is Katya Dorozhkina, a New York-based VC Investor and Managing Partner at accelerator for foreign entrepreneurs, Starta Ventures.
When asked “What do you like best about being a VC? What makes you excited?” Dorozhkina responds stating “What excites me the most is actually helping startups achieve their dreams, and getting them from point A to point B. That’s rewarding. I love what we do with the accelerator every day. Helping our guys succeed is the best feeling you can get. Again, understanding them and being in their shoes is the best-added value that I have right now as a VC. Most VCs don’t get to work with startups on a daily basis,” according to an interview with Vator.TV.
Encouraging change in this space will be tough and slow, however, like every hurdle, persistence will pay off and Hallgrimsdottir sums it up perfectly when she says “we still have some uphill battles, and the only way to keep climbing that hill is to keep going.”
Disclosure: This article includes a client of an Espacio portfolio company