The first Australian venture capital fund has signed up to the Beyond the Billion pledge, a global commitment to invest more than $1 billion in female tech founders.
The pledges that firms such as Artesian have made to Beyond the Billion are not legally binding, but its founders argue the pace at which money has poured into female-led start-ups illustrates the commitment.
Ms Porges co-founded the pledge with Sarah Chen, a Malaysian investor who cut her teeth at Sime Darby Berhad in Kuala Lumpur before founding Lean In Malaysia, a women’s leadership network. “And it’s worked. We have hundreds of funds now investing in everything from AI to VR to fintech to cyber to blockchain.”“We’d been taking one step forward, and now we’ve had two steps back,” she said.
Per dollar of investment, women-founded start-ups generated 78¢, while start-ups run by men returned 31¢.
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