Quick math for investors:

You invest $1M in female-founded startups: $780K revenue generatedYou invest $1M in male-founded startups: $310K revenue generated

That’s 2.5x better capital efficiency.

(Source: BCG & MassChallenge, 350 startups, 5-year study)

Yet in Australia, where I live, female-only teams got 0.7% of the $10B in VC funding (FY22).

To anyone who says “we fund the best founders”: if you’re consistently choosing 31-cent returns over 78-cent returns, you’re not investing in performance. You’re funding familiarity.

And familiarity is expensive.