While the biggest banks on Wall Street employ equal numbers of men and women, said Emily Chang, women hold 25% of computing jobs and received just 2% of venture capital funding.
Enraged by a 2015 interview with a leading venture investor, the Bloomberg anchor wrote a book about the problem, “Brotopia: Breaking Up the Boys’ Club of Silicon Valley.”
Chang argues that the tech industry is deluding itself if it thinks it can really make the world better without representing women equally.
Partners in a new venture capital firm focused on investing in female-led tech companies think putting an end to the bro culture starts with who gets funded.
Kathryn Cartini (@KathrynCartini) and Elisa Miller-Out (@ElisaMillerOut) are partners in Chloe Capital (@ChloeCapital), an early stage fund seeking, along with compelling returns, an inclusive ecosystem in entrepreneurship. They were joined by Erica O’Brian, an operations and finance expert who worked with Elisa at some of her other ventures.
Chloe was founded on the premise that “diverse teams lead to innovative products, resilient companies, stronger returns and a better future for all of us.”
Far from the bro culture of Silicon Valley, Chloe Capital is located in upstate New York.
Kathryn started in TV broadcasting, grew into marketing and now supports a regional startup community through Upstate Venture Connect, an entrepreneur-led nonprofit that connects high growth founders to resources such as mentors and investors.
Elisa was co-founder of PollQ, a chatbot polling tool for higher education and ran a global software services company based in Ithaca. The fund invests in leading edge technologies and innovative ways of caring for ourselves and our families.
Chloe Capital’s first investment was in Mi Padrino (@mipadrinoevents) a Michigan event planning service to help parents and families organize, plan, and fund events celebrated in the Hispanic tradition.
“Over my 20 year career as a serial entrepreneur in the tech space, I have personally experienced the gender gap in technology and entrepreneurship. Often, I’ve been the only woman in a room of hundreds of people,” said Miller-Out. “We are building something new around women and technology, entrepreneurship, and diversity in tech. Chloe Capital’s mission is to have more diverse voices at the table building this future together.”
Chole Capital is launching a national tour with pitch events and office hours in multiple cities across the US.
More female founders and funders will help change the bro culture of tech. But (if you’re in the tech sector) your next hire and water cooler conversation could be a good start.
For more see:
- Big Venture Investments in HR Startups & What it Means for Education
- Massive Global Benefit. Waves of Dislocation and Challenge. Time to #AskAboutAI
This post was originally published on Forbes.