Rebecka Löthman Rydå: ‘VC is pushing brilliant women out’

After years of panels, pledges, and glossy diversity reports, venture capital still hasn’t fixed its gender bias problem.

That was the blunt message from Rebecka Löthman Rydå, partner at Norrsken Evolve, in a candid Linkedin today.

“It’s time for an uncomfortable truth many in VC still prefer to ignore,” she wrote. “Gender bias is still a BIG problem in this industry…and it’s pushing brilliant women out.”

Globally, women hold roughly 15.4% of partner or decision-making roles at VC firms, according to recent research by Founders Forum Group. That represents a minor improvement from 2020, when women held 12.8% of these roles.

Löthman Rydå argues that focusing on surface-level initiatives has distracted from deeper structural problems.

“If you’re in a position of leadership in a VC or an LP, please stop congratulating yourself for coaching programs, panels, and PR statements,” she wrote. “Look honestly at promotions, compensation, bonus allocation, carry, who gets heard, and who actually holds power.”

While female representation in venture capital is the most reported metric of gender bias, Löthman Rydå points to subtler, harder-to-measure factors that play out in the workplace.

“It [gender bias] shows up in being talked over, not being taken seriously, earning less, missing out on full bonuses, controlling less capital, less carry and constantly having to put up with behaviour they shouldn’t have to tolerate,” said Löthman Rydå.

The partner said she had her “own experiences” of gender bias, but in a message to Impact Loop said she “didn’t have the bandwidth” to elaborate at that moment.

Many cases of alleged gender bias go under the radar, but there are exceptions.

Earlier this month, Kate Lowry, former vice president at Insight Partners, sued the US venture capital firm, alleging gender and disability discrimination, retaliation, and wrongful termination.

Nevertheless, legal cases against venture capital firms remain incredibly rare, with most issues settled privately rather than in open court.

There are “too many stories [left] in the dark,” said Löthman Rydå. “We don’t need more talk… we need accountability.”