Recommendation 1

It should be a concern to all that a tiny fraction of venture capital investment goes to supporting women-led businesses. Despite numerous reviews and initiatives this situation is getting worse not better. Venture capital firms must do more to challenge themselves into providing investment on a more equitable basis including by increasing the proportion of women on investment committees as a priority. The Government should use the levers at its disposal to encourage systemic change in the industry. We set out some key steps it can take later in this Report. (Conclusion, Paragraph 19)