Venture capital firms deal with the big money and this field has always been dominated by men. According to a recent Huffington Post article by former VC exec Christine Bronstein, the statistics are changing. She says the power of women VCs coupled with their growing network of female CEOs is having “an enormous impact on women who run startups” and as a result, our global economy.
According to a recent report from Illuminate Ventures, firms with women investment partners are 70% more likely invest in a woman entrepreneur than the firms with only male partners. This illustrates the change Bronstein is talking about, change that she hopes will make other female VC’s experiences better than the one she had when she was in the field 14 years ago.
Bronstein credits the changes to the strength in purchasing power of women, which is what FletcherPR has been saying all along. Women oversee about 80% of consumer spending, which is about $5 trillion dollars a year. This is what we mean when we say, “the Power of the Purse.”