Back in 2004, when Golden Seeds started, only 5% of angel investors were women, according to the Center of Venture Research at the Peter T. Paul College of Business and Economics at the University of New Hampshire.
“Stephanie Newby got this idea that we needed to start a movement to get capital to fund female founders,” said Loretta McCarthy, co-CEO and managing partner at Golden Seeds. Newby founded Golden Seeds. “It [women funding women] has become a movement in many ways.” Since then, many others have been inspired to start angel groups focused on funding female founders.
The percentage of women angels grew to 33.6% in 2021.