Women founders only got 1.9% of venture capital in 2022. Women are over 50% of the population yet are essentially blocked from venture capital. Here's what Citi does.
Dealmaker reported in April 2023 that impact investing has grown, that is the sector that seeks to have a societal impact with its investments, which includes criteria for diverse founders. Referring to research from Fidelity, Dealmaker said, “This sector has shown steady growth in recent years; globally, the impact investing market grew from $420.
Citi Impact Fund is taking intentional steps to reduce bias in their own investing, Shields said. It includes steps during the investment decision-making process and collecting and tracking the metrics closely.: “The way that the Impact Fund is doing that is…We have looked at every step of our investment process and identified where can the bias come in,” Shields explained.
They clearly perceive these strategies as successful, because she said, “today over 70% of our companies are led by women and people of color, which are very proud of. Those numbers are quite a bit higher than the traditional investing sector.” This bias towards white men in venture capital investments, she emphasized, “It's something we've got to fix.”
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