Lack of equal access to influential networks, which limits access to jobs, funding, and growth opportunities.

Narrow requirements regarding experience, which limit women fund managers’ access to capital.

Smaller fund sizes, which limit women fund managers’ access to capital.

Traditional fund economics expectations, which do not reflect emerging market realities.

Less access to startup capital.

Conscious and unconscious bias.

Existing funding processes, rather than fostering a meritocracy, often end up fostering a “mirrortocracy” with LPs/GPs looking like the funds and enterprises they support.³ Women fund managers, particularly those from emerging markets, may not fit the image of what LPs have determined a fund manager should look like.