An unusual scene unfolded at Israel’s annual venture capital sector meeting this year. Observers noted an increase in the presence of female professionals, some even accompanied by their infants. This could signify a slow yet promising shift in Israeli venture capital’s gender norms.
The venture capital field in Israel is heavily male-dominated. Women make up only about 30% of the larger tech workforce, and historically, less than 10% in venture capital. Yet, recent trends indicate a slight uptick in these numbers – a hopeful sign of a gradual move towards gender inclusivity in the industry.
The vast gender disparity in Israel’s venture capital industry might be partially attributed to the perception of the sector as elusive. Many burgeoning venture capitalists enter the field after their businesses have gone public or been sold, making it seem inaccessible. The apparent impenetrability of venture capital positions can act as a barrier for many, particularly women, who are largely underrepresented.
Despite a small increase in the number of women entering the field, the count of female-led venture capital firms remains low. Exceptions like iAngels present a small ray of progress. However, the long road to achieving gender parity in venture capital firms, especially in leadership roles, is evident. Advocacy for increased female representation is crucial to disrupt traditional norms and usher in a more inclusive future.
In comparison, the United States is making faster progress in this regard. It boasts roughly 160 women-managed or co-managed venture capital firms, collectively holding $6.5 billion in capital. While this amount is a small fraction of the total venture capital funding, its growth from virtually zero a decade ago is promising.
Change is on the horizon. Industry leaders Fiona Darmon and Merav Weinryb are leading the charge by raising funds for Sunvest Capital. Other trailblazers like Renana Ashkenazi, Nofar Amikam, and Sapir Harosh are leading the way in overhauling industry norms. As more women enter the sector and shatter glass ceilings, we might soon witness a sea change in this skewed gender ratio.
