posted Jun 12, 2013, 3:41 PM by David Khorram
updated Jun 12, 2013, 4:14 PM
Angel investor Joanne Wilson: VCs not funding women founders is a subconscious decision (and yes, they make shocking comments)
My longtime friend and mentor (from my Silicon Alley Reporter days) Joanne Wilsonwasn't afraid to talk about the way male investors approach women founders when I interviewed her in New York last month.
The bias, she says is, subconscious. And yet: "Some of the comments that come out of their mouth are shocking."
Now of course Joanne didn't name names, but here are a few things she says VCs have told women founders (in her words):
"So, you know, this is a really good business, I think it's amazing what you've built. But you know? You'll probably exit at $30M so I'll never really get my money out.""So you're married. Are you going to get pregnant? Because I really don't want to invest in someone who's going to have a kid."
Joanne's conclusion: "As these women start building their businesses and they actually have traction and they are making money, I believe that they will have a lot more people looking at them on their next go-round, and not this one."
Joanne has invested in numerous women founders -- "I've not lost one yet," she said. She finds women are more diligent and not as cocky as men, though she'd like to see more women be a little more aggressive.
But, she notes, their confidence increases as their revenue grows or they raise money.