A report released this week shows venture financing for startup companies founded by women is showing progress, but gender inequity continues.

Pitchbook, a financial data and software company based in Seattle, presented the report, “All In: Women in the VC (venture capital) Ecosystem,” before the All Raise VC Summit held Wednesday in Oakland, California.

According to the findings, VC investment in startups with at least one female founder reached $46 billion in 2018, representing almost 20% of total VC investment and more than doubling the total from the $21.9 billion in 2017.

Similarly, deal count reached a record high of 3,477 in 2018 and shows no signs of slowing in 2019, according to the report.

The key drivers of investment in startups with at least one female founder can be attributed to growing market awareness of gender inequity, an increase in mentorship networks and a rise in female general partners, the report said.

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