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Expand chart
Data: Axios Analysis; Icons by Gan Khoon Lay via the Noun Project; Chart: Lazaro Gamio / Axios

Only 7% of decision-makers at U.S. venture capital firms are women, according to an Axios analysis. Moreover, women effectively control just 4.7% of all venture dollars raised in the past five years by U.S.-based firms.

Numbers: Axios identified 1,019 decision-makers at 227 U.S. venture capital firms, of which 72 were women. Of those 227 firms, 169 had zero female decision makers. Those firms raised around $153 billion between 2012 and 2016, of which $9.51 billion is estimated to be controlled by women.

Minor progress: A similar analysis from last year found 5.7% of decision-makers at U.S. VC firms were women. The sample years are slightly different (2011-2015 vs 2012-2016), and the overall number of decision-makers climbed from 906 to 1019. Of that differential, 17.7% of the new "additions" were women ― suggesting that U.S. venture firms are doing a slightly better job adding women to partnerships and/or that women are more likely to help form new firms than they have been in the past.

Methodology: We asked PitchBook for a list of all U.S.-based VC firms that had raised at least one fund of at least $100 million between 2012 and 2016. We then examined the current websites of each firm to determine the decision-making level of investment management, sometimes using regulatory filings for supplemental information. We excluded administrative partners (COO, CFO, IR, marketing, etc.) and, admittedly, there is a bunch of art mixed into the science ― given that different firms use different titles. In short, we were looking for the people who control the investments. For the dollar totals, we examined the amount of capital raised by each firm, and divided it by the number of each firm's female partners (where applicable).

Go deeper

Updated 3 hours ago - World

Skripal poisoning suspects linked to Czech blast, as country expels 18 Russians

Combined images released by British police in 2018 of Alexander Petrov (L) and Ruslan Boshirov, who are suspected of carrying out an attack in the in the southern English city of Salisbury using Novichok, a military-grade nerve agent, and also the2014 Czech depot explosion. Photo: Metropolitan Police via Getty Images

Czech police on Saturday connected two Russian men suspected of carrying out a poisoning attack in Salisbury, England, with a deadly ammunition depot explosion southeast of the capital, Prague, per Reuters.

Driving the news: Czech officials announced Saturday they're expelling 18 Russian diplomats they accuse of being involved in the blast in Vrbětice, AP notes. Czech police said later they're searching for two men carrying several passports — including two with the names Alexander Petrov and Ruslan Boshirov.

Indianapolis mass shooting suspect legally bought 2 guns, police say

Marion County Forensic Services vehicles are parked at the site of a mass shooting at a FedEx facility in Indianapolis, Indiana, on Friday. Photo: Jeff Dean/AFP via Getty Images

The suspected gunman in this week's mass shooting at a FedEx facility in Indianapolis legally purchased two "assault rifles" believed to have been used in the attack, police said late Saturday.

Of note: The Indianapolis Metropolitan Police Department's statement that Brandon Scott Hole, 19, bought the rifles last July and September comes a day after the FBI told news outlets that a "shotgun was seized" from the suspect in March 2020 after his mother raised concerns about his mental health.

U.S. and China agree to take joint climate action

US Special Presidential Envoy for Climate John Kerry waves as he arrives at the Elysee Presidential Palace on March 10, 2021 in Paris. Photo: Chesnot/Getty Images

Despite an increasingly tense relationship, the U.S. and China agreed Saturday to work together to tackle global climate change, including by "raising ambition" for emissions cuts during the 2020s — a key goal of the Biden administration.

Why it matters: The joint communique released Saturday evening commits the world's two largest emitters of greenhouse gases to work together to keep the most ambitious temperature target contained in the Paris Climate Agreement viable by potentially taking additional emissions cuts prior to 2030.