There has been a lot of conversation recently, generated by Fred Wilson's blog about younger entrepreneurs being more likely to hit home runs in the start up world. Some comments have justifiably been made that this is a bit sexist as women entrepreneurs tend to be older, because they begin to focus their entrepreneurial efforts only after child-rearing – a choice that men do not have to make.
Fred makes the point that his current portfolio companies have no women in the CEO role and that fewer than 5% of entrepreneurs coming to see him are women. But isn’t this a self-fulfilling inevitability? Having recently begun the process of seeking a Series A round of investment and studying the process by which some are successful in this endeavor and others are not, I am astounded by how many entrepreneurs who are funded have already done business with those committing the dollars. You might think they are funded because they have a successful history, but it is also true that the circle is self-perpetuating. An idea gets sketched on the proverbial napkin and they are off and running. Yes, the business needs to be fleshed out and a plan put in place, but the club is already operating.
I am particularly sensitive to this issue today as I and other female CEOs juggle business and family commitments. Yet, we are as passionate, driven, and creative as anyone else – some would argue more so because it’s harder -- but with fewer opportunities to slice through the networks of established relationships. We have fled from the corporate glass ceiling only to encounter the “venture fraternity.” But I do believe that the time will come when women won’t be segregated into their own “Top ___” lists. It just may take longer than I imagined.
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