News
Lack of female decision-makers the largest barrier to funding, says survey
Over 95 per cent of respondents acknowledged a fundamental difference in how investors treat male and female founders
The lack of female decision-makers is the largest barrier to closing the gender funding gap, a new survey has found.
Pink Salt Ventures, the UK’s first venture capital firm for female founders, has published the results of its most recent survey, revealing startling new data and attitudes about how male and female founders are treated by investors – and the consequences.
The survey of 90 female founders, was conducted in partnership with Dr Dana Kanze, an expert on gender bias in venture capital and Pink Salt Ventures’ advisor.
The findings showed 97 per cent of respondents acknowledged a fundamental difference in how investors treat male and female founders, with 83 per cent citing the lack of female decision-makers as the largest barrier to funding.
Additionally, the report revealed 76 per cent of participants believed there is a lack of awareness of what a VC-backable business is. The findings, and the actions required, were echoed by leading female and male entrepreneurs.
“Our survey’s results are clear: a fundamental gender funding gap exists, which is to the detriment of female founders looking to scale their firms,” said Samira Ann Qassim, co-founder and partner at Pink Salt Ventures.
“This is a wake-up call for investors to take action to ensure female founders have the same opportunities as males.”
Saloni Bhojwani, co-founder and partner at Pink Salt Ventures, said there is a huge opportunity to drive growth in the industry by backing underfunded talent.
“Generationally speaking, the pipeline of female entrepreneurial talent only continues to grow, and our research shows what the ecosystem needs and is asking for: more dedicated capital, networks and access to scale their companies.”
Dr Dana Kanze, associate professor of organisational behaviour at London Business School, said: “These rich insights show the urgent need for investor-side, rather than founder-side, reform.
“Female founders are clamouring for this, and are badly in need of VC funds allowing for cold introductions, plus access to non-financial resources and specific guidance at a time when they are too early for consideration.
“Until female founders receive the funds they need at the valuations they deserve, they won’t participate in the liquidity events that can enable them to become serial entrepreneurs and investors themselves.”
The survey complements conclusions recently reached by the Harvard Business Review that female founders are two times less likely to secure post-seed funding than males and data from Pitchbook suggesting female founders raise less capital at lower valuations and exit their businesses quicker, proving they can do as much as their male peers with less.
Figures like Tamara Hill-Norton, founder of Sweaty Betty, said LPs can get more female founders funded by having a gender focus in their investments.
“I invested in Pink Salt Ventures because it is the first and only fund I know of in the UK – to have that gender lens focus – solely on female-led businesses,” she added.
Irish businessman Bryan Meehan, executive chairman at Blue Bottle Coffee and an LP in Pink Salt Ventures, said: “It is time the global VC industry wakes up to its inherent blind spot in funding females and people of colour.”
Diagnosis
Lung cancer drug shows breast cancer potential
Ovarian cancer cells quickly activate survival responses after PARP inhibitor treatment, and a lung cancer drug could help block this, research suggests.
PARP inhibitors are a common treatment for ovarian cancer, particularly in tumours with faulty DNA repair. They stop cancer cells fixing DNA damage, which leads to cell death, but many tumours later stop responding.
Researchers identified a way cancer cells may survive PARP inhibitor treatment from the outset, pointing to a potential way to block that response. A Mayo Clinic team found ovarian cancer cells rapidly switch on a pro-survival programme after exposure to PARP inhibitors. A key driver is FRA1, a transcription factor (a protein that turns genes on and off) that helps cancer cells adapt and avoid death.
The team then tested whether brigatinib, a drug approved for certain lung cancers, could block this response and boost the effect of PARP inhibitors. Brigatinib was chosen because it inhibits multiple signalling pathways involved in cancer cell survival.
In laboratory studies, combining brigatinib with a PARP inhibitor was more effective than either treatment alone. Notably, the effect was seen in cancer cells but not normal cells, suggesting a more targeted approach.
Brigatinib also appeared to act in an unexpected way. Rather than working through the usual DNA repair routes, it shut down two signalling molecules, FAK and EPHA2, that aggressive ovarian cancer cells rely on. FAK and EPHA2 are proteins that relay survival signals inside cells. Blocking both at once weakened the cells’ ability to adapt and resist treatment, making them more vulnerable to PARP inhibitors.
Tumours with higher levels of FAK and EPHA2 responded better to the drug combination. Other data link high levels of these molecules to more aggressive disease, pointing to potential benefit in harder-to-treat cases.
Arun Kanakkanthara, an oncology investigator at Mayo Clinic and a senior author of the study, said: “This work shows that drug resistance does not always emerge slowly over time; cancer cells can activate survival programmes very early after treatment begins.”
John Weroha, a medical oncologist at Mayo Clinic and a senior author of the study, said: “From a clinical perspective, resistance remains one of the biggest challenges in treating ovarian cancer. By combining mechanistic insights from Dr Kanakkanthara’s laboratory with my clinical experience, this preclinical work supports the strategy of targeting resistance early, before it has a chance to take hold. This strategy could improve patient outcomes.”
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