2022 Women Founder Report (Harlem Capital)

Summary

• The report focuses on 892 US-based women-founded companies that raised $1M+ in venture funding, out of 977 that raised.p.2
• The 892 companies raised $17.9B of capital with a median raise of $6.5M.p.3
• White women-led companies represent 74% of total companies, but 68% of capital raised.p.3
• Seed rounds represent 30% of total companies, but only 6% of capital raised.p.3
• California and New York represent 56% of companies, but 67% of capital raised.p.3
• Only 9 investors invested in 10 or more women-founded companies.p.3
• The top 10 largest raises in 2022 represent $3.9B of capital, or 22% of total capital raised in 2022.p.9

Key insights

1. Software, Healthcare, Biotech and Fintech represent 41% of companies.p.3
2. White women have 5.4x the number of companies of Asian women, 11.6x Black women and 17.4x Latina women.p.5
3. Middle Eastern and Asian women had the highest median capital raised.p.5
4. Series A to C rounds represent 64% of total capital raised.p.8
5. Gaingels made the most investments (29) in $1M+ rounds, followed by Techstars (23) and Alumni Ventures (20).p.11
6. 61 investors have made 5+ investments in women-founded companies.p.11