Female startup founders with all-female teams received $6.9 billion in venture funding in 2021, compared to $3.3 billion in 2020, according to a recent report from PitchBook Data.
The report, titled "All In: Female Founders in the US VC Ecosystem," also found a significant boost in funding for "mixed-gender" teams — those with at least one female founder. Mixed-gender teams received $47 billion in VC funding in 2021. In 2020, these startups raised $19 billion.
Overall, all-female founding teams received 2.1% of all VC investment in the United States in 2021, a slight increase from 2% in 2020. Mixed-gender teams received 14% of all U.S. venture investment in 2021, compared to 12% in 2020.
The trend appears to be continuing into 2022. Venture firms have already invested $980 million in all-female founding teams this year, compared to $758 million for all of 2012, according to the report.
The number of VC deals completed by all-female founding teams has also increased 39% between 2021 and 2020, according to the report. All-female founding teams closed 6.2% of VC deals in 2021, compared to 6% in 2020.
The report included a few specific data points for the San Francisco Bay Area. Female general partners comprise 17.1% of all general partners in the Bay Area, an increase from 15.4% in 2020, according to the report. Bay Area VCs invested $15 billion in female-founded startups in 2021, far more than other metro areas.