All Raise’s 2023 Annual Report: A Year of Transformation and Progress
As we reflect on 2023 at All Raise, we are proud to highlight significant strides and transformation since our 2020 Annual Report. With the support and voice of our community to guide the future of our movement to move money, shift power, and change culture, this report delivers updates about progress towards our top-line goals, insights from our community survey and 2023 Strategy Tour, and details about the impact of All Raise programs and initiatives.
Dear All Raise Community,
We are proud to share our All Raise 2023 Annual Report, highlighting significant strides and the transformation of our organization. Thanks to key insights from our 2023 Strategy Tour and community survey, we’ve updated our vision, mission, and strategic focus to maximize our impact.
Here are the top three key insights from this year’s report:
1. We’re Moving the Needle, But We Have More Work To Do
Despite dramatic shifts in our industry and a backlash against DEI, we’ve continued to make progress towards increasing the number of women decision-makers and the amount of funding going to female-founded startups.
With this progress, our work is more important than ever as we protect our progress and continue to forge ahead toward gender parity in the venture capital ecosystem. Because addressing systemic inequities requires an ecosystem approach, we’re delighted to develop durable solutions with our peer organizations and partners that take big swings and continue to have impacts for decades.
2. Diversity Drives Business Success
The data is clear — women drive better business outcomes as investors and founders. Research shows:
- 69.2% of the top-quartile-scoring U.S. funds and angel groups from 2009–2018 included female decision-makers. (Source: All Raise, PitchBook, and Goldman Sachs)
- Harvard Business Review found venture capital firms that increased their proportion of female partner hires by 10% saw, on average, a 1.5% spike in overall fund returns each year and had 9.7% more profitable exits.
- First Round Capital reported that its portfolio companies with female founders outperformed their male peers by 63% in creating value for investors.
- The Boston Consulting Group found that for every dollar raised, female-led startups generated 10% more revenue than male-led startups.
Our programs help women and nonbinary leaders grow their network, build strong relationships, sharpen their skills and knowledge, and showcase their expertise so they can remain competitive and bring value to their firms and startups.
3. Male Allyship is Critical to Moving the Needle
Male allyship has proven to be a critical factor in advancing gender parity in venture capital. Our community members reported the importance of male support in advocating for women and nonbinary VCs to get:
- Hired, promoted, or funded
- Introduced to top founders and the hottest deals
- Access to LPs
- Mentorship and sponsorship
Men in the All Raise community have consistently demonstrated their commitment to being allies, using their influence to help women and nonbinary peers access the best deals, raise funds, and advance their careers. This support is essential to changing the culture and composition of the venture capital ecosystem.
Having recently wrapped up my first year as CEO, I’m incredibly proud of our team, volunteers, and Board. Over 200 volunteers joined us to drive innovative initiatives, propelling All Raise forward and accelerating our mission to rewire the industry from the inside.
At All Raise, we are committed to continuing this vital work and fostering a future where women and nonbinary leaders build and fund the future as investors, founders, and operators. We invite you to join us as we move money, shift power, and change culture.
For a detailed look at our progress and approach for the future, read the full 2023 Annual Report. Thank you for your continued support.
Paige Hendrix Buckner
CEO, All Raise
