2021 Latin American Women Founders Fundraising Insights (Harlem Capital)

Summary

• Financial Services and E-Commerce sectors raised $3.1B.p.4
• 32 companies with All Women founding teams raised capital, compared to 670 companies with All Men teams.p.7
• All Women founding teams received 0.2% of the capital raised in 2021, while All Men teams received 76.2% and Mixed Gender teams received 23.2%.p.8
• At the median raise amount in 2021, All Women founding teams received 67% less capital than All Men teams.p.9
• Companies based in Brazil and Mexico received $3.6B of capital, 91% of total capital raised in 2021.p.13

Key insights

1. Companies with All Men teams raised 3.3x the capital compared to Mixed Gender teams and 345x compared to All Women teams in 2021.p.7
2. Only 4% of the companies that raised capital were All Women founding teams, compared with 82% All Men teams and 12% Mixed Gender teams.p.8
3. Mixed Gender teams received 12% more capital than All Men teams at the median raise amount.p.9
4. There were only 6 Pre-Seed raises by All Women teams compared to 148 Pre-Seed raises for All Men teams.p.10
5. 32% of women founders hold a Bachelors degree and 63% hold more advanced degrees.p.11
6. Financial services companies represent 43% of the capital raised by women (co-)founders.p.12
7. Financial Services, Software, and Agriculture & Biotechnology represent 59% of companies funded.p.12