From GIIN - Resource library of different strategies to achieve gender impact.

From Criterion Institute - Criterion Institute has created a tool that can be used by anyone looking to develop a gender lens investing strategy – from foundations, to women’s funds, to investors across asset classes. Following a standard investment cycle, this tool supports the design of an investment strategy with considerations for how gender dynamics might present risks and opportunities. It provides a framework to consider building a gender lens into new or existing strategies. This tool can be used to inform investment strategy or in diligence. Wherever you find yourself in your gender lens investing journey, we hope this tool helps expand imagination of what is possible in the field.

From MEDA - The Gender Equality Mainstreaming (GEM) Framework is a practical manual and toolkit for assessing gender equality, and identifying, implementing and measuring gender equality mainstreaming strategies within companies. The framework builds upon the environmental, social and governance (ESG) investment standard by mainstreaming gender across ESG criteria. This alignment with the ESG investment standard promotes adoption in an industry that is increasingly ESG-compliant.

Designed for organizations seeking financial and impact returns through investing or providing support to companies, the manual is applicable to a wide range of investors (e.g. private equity funds, government donors, foundations) and capacity builders (e.g. accelerators, technical assistance providers, NGOs).The ultimate aim of the framework is to transform companies to be more gender equitable while supporting business growth and impact.

From SEAF - This measurement mechanism is demonstrates that SEAF portfolio companies can provide appropriate financial returns and measurable impact, including women being economically empowered through investment and development activities.

From The Venture Capital Accelerator- The Mensarius Oath is an ethical code of conduct for venture capitalists and other finance professionals that is designed to foster positive outcomes for humanity. The Mensarius Oath was originally developed by the Founder Institute in March of 2020 to inspire a new class of ethical investors that focus on both societal and economic returns.

From Fairview Capital- A market update and review of woman and minority-owned private equity and venture capital firms actively raising capital in 2020 based on data collected by Fairview Capital

From Fairview Capital- “In our latest report, we share Fairview’s data on the size, evolution, and current characteristics of the universe of woman and minority-owned private equity and venture capital firms (firms majority owned by women and/or ethnic minorities in the US). In 2021, we found that this set of diverse private equity and venture capital firms is larger and more dynamic than ever before.”

From Women Win. The Gender-Responsive Due Diligence (GRDD) Platform describes the process of adding a gender lens to human rights due diligence and offers practical resources and advice to help implement each step of the due diligence process. This platform consists of two core components:

1. Understanding GRDD

2. Implementing GRDD

The GRDD platform has primarily been designed and developed for multi-national enterprises and brands with global supply chains, in both products and services sectors. The platform is intended for any company that has started, or is going to start, implementing human rights due diligence and is keen to ensure this is done in a gender-responsive manner.

Gender diversity at work and investing in equality for women can actually increase a company’s—and your portfolio’s—bottom line. Lily Trager, Wealth Management, Director of Impact Investing at Morgan Stanley, explains.

From Sasakawa Peace Foundation (SPF) and the Angel Investment Network Indonesia (ANGIN). The Emergence of Angel Investment Networks in Southeast Asia is the first research of its kind focusing on Angel Investment Networks (AINs) in Southeast Asia, with a specific focus on Gender Lens Investing practices.

As first report of a three part series, A Good Practice Guide to Effective Angel Investing focuses on the development and current landscape of Angel Investment Networks in Southeast Asia and provides an overview of the functions, taxonomy, and challenges facing Angel Networks in the region. Based on interviews with expert practitioners, this report also provides advice for managers and members of Angel Investment Networks to explore mechanisms to achieve financial sustainability, implement operational improvements, and pursue collaborations with other ecosystem players including entrepreneurs, government, intermediaries, and other investors.

The second report, A Spotlight on Gender Lens Investing (GLI), examines how GLI is being applied by Angel Investment Networks in Southeast Asia and provides insights into the opportunities and challenges for hybrid GLI-Angel Investments.

From HEC Paris. At the senior level, men outnumber women by a 10 to 1 ratio in the private equity sector. Considerations about gender equality notwithstanding, such a testosterone-only environment is not good for the bottom line. A large-scale study of investment deals by HEC Paris professor of strategy and business policy proves that teams with at least one female member dramatically outperform male-only teams. (An interview with Oliver Gottschalg.)

From Deloitte. The venture capital (VC) industry appears to be making progress in achieving greater gender, racial, and ethnic diversity. Some progress has been made in expanding the representation of women in leadership positions, particularly for investing professionals. In addition, of the VC firms surveyed, more are adopting diversity and inclusion strategies than before, and firms with these strategies report having more diverse workforces than other VC firms. However, the pace of progress has been uneven across diversity demographics—there has been little increase in the representation of Black and Hispanic employees in the overall industry and in leadership positions. At the talent management level, few of the firms surveyed conduct employee surveys to assess their progress in creating a more inclusive workplace. While the improvements indicate a positive trend, the data indicates the industry has work to do to achieve a long-term diverse workforce.

These are some of the key findings of the third edition of the VC Human Capital Survey, powered by the National Venture Capital Association (NVCA), Venture Forward, and Deloitte to assess the state of diversity, equity, and inclusion (DEI) in the VC industry. The survey provides a source of information that allows firms to benchmark themselves against industry practices and helps them identify innovative approaches to promote DEI.

From Harvard Business Review. Women who venture into entrepreneurship are not poised to get a fair deal. Kamal Hassan, Monisha Varadan, and Claudia Zeisberger argue that bias within the VC industry is preventing funds from being allocated to the best investment opportunities, so if we want both better VC outcomes and more gender balance in entrepreneurship, we need to root out the bias hampering ventures at their earliest stages. The research suggests that the pitching process is the best place to start.

Australians Investing In Women (AIIW)’s recent research report from Equity Economics makes a compelling case for the critical need to invest with a focus on women – not only because of the disproportionate effects of the COVID-19 pandemic but because of the critical role women can play in driving our economic and social recovery.

AIIW commissioned this research to provide funders with analysis and distillation of existing research into the impacts of recent disasters on women. The purpose is to highlight key issues, and identify funding hotspots, where private and corporate giving can be targeted to help accelerate Australia’s economic and social recovery through a focus on women’s economic security, safety and wellbeing. From Australians Investing In Women.

By Dana Kanze, Laura Huang, Mark A. Conley, and E. Tory Higgins. A study of Q&A interactions between venture capitalists and entrepreneurs at the annual startup funding competition TechCrunch Disrupt New York City found that venture capitalists posed different types of questions to male versus female entrepreneurs. They tended to ask men (promotion) questions about the potential for gains, and they tended to ask women (prevention) questions about the potential for losses. The difference in questioning explains much of why female entrepreneurs received five times less funding than their male counterparts.

A second experiment finds that the relationship between Q&A orientation and funding is causal. Entrepreneurs who were asked promotion questions received twice as much funding as those who were asked prevention questions.

Both studies also revealed an actionable silver lining: If entrepreneurs reframe their responses to prevention questions, they may be able to raise more funds.

By Paul Gompers and Silpa Kovvali. Researchers have struggled to establish a causal relationship between diversity and financial performance—especially at large companies, where decision rights and incentives can be murky, and the effects of any given choice can be tough to pin down. So the authors chose a “lab rat” with fewer barriers to understanding: the venture capital industry.

VC firms are fairly flat: Every investor is a decision maker, and choices have clear business consequences. Using publicly available information, researchers can see how similar or different decision makers are and compare decision quality on the basis of investments’ performance.

After examining tens of thousands of VC investments, Paul Gompers has found that diversity significantly improves financial performance on measures such as profitable investments at the individual portfolio-company level and overall fund returns. And even though associating with similar people can have social benefits for people who do so, it can lead investors and firms to leave a lot of money on the table.

In this article Gompers and Silpa Kovvali describe the research and provide recommendations for reaping the business benefits of diversity.

From Morgan Stanley. This guide from Morgan Stanley seeks to provide an actionable framework for investors to understand the risks and financial impact associated with perpetuating racial inequality, and to identify ways to allocate capital toward opportunities to promote racial justice. No single investor will be able to right these deeply embedded cultural imbalances alone. It will take a far-reaching effort by a range of investors—including individuals, families and institutions. Furthermore, a comprehensive approach to counter racism and bias will require wide-ranging and coordinated action across public and private sectors, including corporations, governments and nonprofits.

From Morgan Stanley. Morgan Stanley’s second annual survey of venture capitalists reveals the intensified dialogue around racial inequality has captured investor attention and shifted their attitudes significantly. The increased focus on this issue is leading to investment strategies that include more actions to address disparities in funding for multicultural- and women-founded companies, which are well-documented for women and Black entreprenuers.

From FCDO/DIT and Palladium. Despite Black female entrepreneurs being one of the fastest growing entrepreneur groups in the US, they receive a disproportionately small amount of investment. In 2019, less than 9% of investment went to female founders, and less than 3% went to founders of color in the US. In the UK, only 0.5% of start-ups with Black founders received VC investment. Recent studies have shown the importance of diversity in building more equitable societies. Investment rates and current trends suggest Black Female Entrepreneurs’ (BFEs) fair access to investment resources requires attention. Despite Black female entrepreneurs being one of the fastest growing entrepreneur groups in the US, they receive a disproportionately small amount of investment. In 2019, less than 9% of investment went to female founders, and less than 3% went to founders of color in the US. In the UK, only 0.5% of start-ups with Black founders received VC investment.

Recent studies have shown the importance of diversity in building more equitable societies. Investment rates and current trends suggest Black Female Entrepreneurs’ (BFEs) fair access to investment resources requires attention.

The FCDO/DIT partnered with Palladium Impact Capital to conduct a market study examining the barriers to investment that BFEs experience in the UK and the US, and potential pathways to removing them.