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

A quandary for state unemployment agencies

Illustration: Aïda Amer/Axios

State agencies charged with paying unemployment benefits to jobless residents have their backs against the wall as they rush to parse President Trump's executive actions on coronavirus aid.

Why it matters: States are being asked to pitch in $100 per unemployed resident, but it’s a heavy lift for cash-strapped states that are still unclear about the details and may not opt-in at all. It leaves the states and jobless residents in a state of limbo.

Updated 44 mins ago - Health

New Zealand reports first local coronavirus cases for 102 days

Prime Minister Jacinda Ardern after a press conference at Parliament on July 22 in Wellington, New Zealand. Photo: Hagen Hopkins/Getty Images

AUCKLAND, New Zealand — Auckland is locking down and the rest of New Zealand faces lesser restrictions for 72 hours after a family of four tested positive for COVID-19, Prime Minister Jacinda Ardern announced Tuesday.

Why it matters: It's the first cases not in managed isolation for 102 days, Ardern said at a news briefing.

56 mins ago - Science

The risk of branding NASA's wins

Illustration: Eniola Odetunde/Axios

President Trump, like some of his predecessors, is branding NASA's recent wins as political, presidential accomplishments even though they are the result of efforts that span administrations.

Why it matters: Experts warn that partisan politicking with NASA can lead to whiplash that leaves the agency scrambling to chase new goals whenever a new administration arrives in Washington.