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12.2

Predictions for 2019 #1: Investing in Underrepresented Founders

First-time funds targeting underrepresented European communities emerge

The figures are damning. Only 7% of all capital invested in European tech companies in 2018 went to female or mixed gender founding teams. We cannot measure the imbalance in funding allocated to other underrepresented communities, but those figures would only be harder to read. It is even harder to consider just how much talent and value has evaporated away from our industry because they are not being funded today. We cannot shy away from how difficult it will be to turn this tide. Established VC firms have a responsibility to look harder, and face down their unconscious biases. Dedicated funds targeting investment into these communities are also part of the answer. These numbers have to change if we are to fulfil our potential. 2019 is the year that new funds will start to make this happen.