Throughout the pandemic, the disproportionately adverse impact on women’s careers has received a great deal of attention. Fields heavily populated by women have experienced greater layoffs, with a McKinsey analysis showing women’s jobs 1.8 times more vulnerable than men’s. And the greater need for care work has often led to more women dropping out of the workforce.
But there’s another big shift that has more recently come to light, as figures from 2020 have been tallied: a substantial drop in venture capital funding for women-led startups. This wasn’t just part of an overall decrease in VC funding. In 2019, 2.8% of funding went to women-led startups; in 2020, that fell to 2.3%, Crunchbase figures show.