Nicole Denholder is on a mission to drive more money to women, both as founder of Next Chapter Ventures, which empowers female entrepreneurs to reach their potential and get funded faster, and as co-founder of Sophia, a learning platform delivering financial education to women.
Shuyin Tang, who has a background in impact investing, has felt a similar calling. “For a while I wasn’t aware of the challenges [faced by] female entrepreneurs. But the higher I rose, the [more those] barriers became clearer. How do we close the gender finance gap? How do we provide more pathways [to funding] for female entrepreneurs?”
When it comes to the gender finance gap—the difference between women’s and men’s access to financial services, resources and opportunities—a figure widely touted is that less than 3 per cent of funding goes to female entrepreneurs. It’s a figure that refers specifically to venture capital-backed (VC) funding.
“It’s definitely a huge problem,” says Tang. “But VC funding is actually for a very small proportion of companies. Is the goal only to get more VC funding to female entrepreneurs? That’s a very specific goal. I think the more interesting questions are: what types of businesses are out there, what type of funding do they need and how do we get them that funding?
This story is from the November 2023 edition of Tatler Hong Kong.
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This story is from the November 2023 edition of Tatler Hong Kong.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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