Singapore’s Female VC Decision-Makers Rise to 34.3%

*This article is adapted from * Lianhe Zaobao

Singapore’s Female VC Decision-Makers Rise to 34.3%

The percentage of female investment decision-makers in Singapore’s venture capital (VC) industry has risen by 1.6 percentage points over the past year, reaching 34.3%—significantly higher than the Southeast Asian average.

A study by DealStreetAsia found that only 17.9% of all investment decision-makers in Southeast Asia’s VC firms are women, a marginal increase of 0.5 percentage points from the previous year.

However, this figure is not far from that of the United States, where 18% of VC decision-makers are women, according to nonprofit, All Raise. Investment decision-makers are defined as individuals who can lead deals, sign off on investments, and hold board positions at portfolio companies. The study covered over 330 Southeast Asia-based VC firms, with 317 firms providing team and role information. Some firms have more than one female decision-maker.

Singapore Leads Southeast Asia in Female VC Decision-Makers

With 74 VC firms having female decision-makers, Singapore ranks first in Southeast Asia.

DealStreetAsia attributes this to Singapore being the regional hub for early-stage and growth capital investors.

In comparison, Malaysia had only 11.8% female investment decision-makers last year, while Indonesia stood at 18.2%.

Across the region, 67% of VC firms were entirely male-led, the same as in 2023, but 10 percentage points lower than in 2022. However, the number of female decision-makers in VC grew by 16.3% to 143 individuals, surpassing the 12% growth of their male counterparts.

More Women Are Entering Venture Capital

Yvonne Huang, Partner at iGlobe Partners, noted in an interview with Lianhe Zaobao that more women have entered the VC industry in the past 12 to 18 months. In addition to investment roles, many also work in back-office operations, marketing, and investor relations. This trend is partly due to the rise of new funds in Southeast Asia, which have led to increased hiring, including more women.

However, she emphasised that women who hold actual investment decision-making power remain a minority. That said, she has observed that some of the most influential investment funds now have female founding partners. Additionally, more family offices have been established in recent years, many of which have female executives in key roles.

Vertex Ventures on the Value of Diversity

Pui Yan Leung, Partner, Investment, at Vertex Ventures Southeast Asia & India, highlighted that teams with diverse perspectives foster greater creativity and enhance problem-solving capabilities. She noted that over one-third of Vertex Ventures Southeast Asia & India’s team are women, including two female partners out of eight.

Advice for Women Entering Venture Capital

Huang emphasised that opportunities in the VC sector are abundant. She advised women interested in the industry to seek strong mentors and, if they have family commitments, to communicate openly with their loved ones and share responsibilities.

Leung encouraged female investors to be bold in expressing confidence in investments they believe in, even if those investments do not align with current market trends.

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