and 2025 Look Ahead
To accelerate the success of women and nonbinary investors. We reshape culture, capital flows, and decision-making power within venture capital, generating stronger returns and unlocking market-shaping innovation.
A transformed venture ecosystem, led by a diverse group of investors who fund what’s next, drive innovation, expand equity and deliver consistent, long-term performance.
We’re reshaping the culture and makeup of venture capital through bold, data-informed initiatives, powered by women, nonbinary, and men across the industry.
We aim to:
Together, these strategic pillars advance All Raise’s mission and vision, accelerating a more inclusive, innovative, and high-performing venture ecosystem.
The state of our industry reflects both challenge and opportunity.
As a new generation of VC leaders and founders rises,
progress toward gender-balanced investing continues to build.
This year, All Raise reached a major milestone: we are three years ahead of schedule for our organizational mandate to help the VC ecosystem reach 18% female and nonbinary representation at the Partner+ level. When All Raise was founded in 2017, this number was 9 percent. Today, women make up 18.6% of all Partner+ (partner, managing director, general partner and managing partner) roles in VC.
This progress is the result of extraordinary hard work, creativity, and determination, especially in the face of shrinking venture dollars and mounting political headwinds.
Behind every data point is a story of resilience, leadership, and vision. Every person matters. And we see you.
Our community, staff, peer organizations, partners, sponsors, and donors made this happen. We’re proud to welcome women, nonbinary people, and men into a shared movement, grounded in the belief that meaningful progress drives better outcomes, and this work matters.
All Raisers, you’re building collaborative networks that unlock exclusive deal flow and approaching investment decisions with the kind of rigor and empathy that founders recognize and need.
This performance cuts through noise to deliver on what LPs want to see: consistent, data-backed returns with an edge on what’s next.
Representation alone isn’t the finish line, it’s the foundation.
The next phase of All Raise’s mission is about turning representation into power: writing checks, hiring leaders, and setting new benchmarks that reflect progress where it matters most. We want more women and nonbinary investors leading deals and taking board seats — because the data is clear: gender-diverse teams drive better business outcomes.
In 2024, All Raise made a strategic shift from broad, generalized programming to targeted, high-impact experiences. Our team and volunteers structured mentorship to accelerate paths to partnership, built peer networks that unlock deal flow, and developed support systems for rising talent. These initiatives were co-designed with more than 200 industry professionals whose lived experiences informed every step.
This evolution is already paying off. Following a banner year in 2024, enrollment in All Raise programs has surged by 102%, a clear reflection of the power of focused, community-powered design — and the ways we’re responding directly to what we’re hearing from you.
Seven months into 2025, I’ve seen something remarkable happen among all of you. Despite the uncertainty in the markets and the backlash against DEI, you’re stepping up to define what comes next. While conditions test the durability of progress, you’re proving that our work is about performance, perspective, profitability, and the kind of leadership that drives lasting value. Venture is being redefined, and All Raisers are at the forefront.
To our team, board, volunteers, members, and partners: thank you. Your belief, your energy, and your leadership make this work not only possible but powerful.
Let’s keep going. The business case has always been clear. The impact is measurable. And the best of what we’re building is ahead.
With and for our future,
CEO, All Raise
All Raise has proven how building a community around trust and mutual support can win — I’ve been in a cohort for the past 5 years, and have developed friendships, trust, and work collaborations with other investors I may not have had a chance to cross paths with were it not for All Raise. I have gone out of my way to include cohortmates in deals I’ve led, served as mutual sounding boards when we are navigating difficult situations across our work, and in general, celebrated each other’s wins like they are our own. It’s been a wonderful haven of support in an otherwise solitary profession.
“We’ve all seen the data that diverse teams make better decisions, but what’s been fun is living it in the venture world over the last several years as more and more women have entered the industry, been promoted, and have seen success. You feel it on the investment teams, you feel it in discussions. In venture, we’re in the outlier business, and the real alpha in our industry comes from being contrarian, so the more diverse, brilliant thinkers you have around a table discussing topics, looking for opportunities, and pushing the thinking, the more likely you are to find those contrarian insights and opportunities.”
“In a market lacking liquidity and facing economic headwinds, it is critical to invest in operators and fund managers who are disrupting the status quo and taking new approaches to deliver returns. Women and nonbinary leaders bring a fresh perspective, stronger understanding of overlooked market opportunities, and often, better business outcomes. All Raise was built to empower these leaders to move the entire industry forward, and their impact is real from doubling the number of women checkwriters in VC to building and convening a momentum-driving community of hundreds of industry leaders. Pivotal Ventures is proud to partner with All Raise to ensure that the success of women founders and fund managers isn’t the exception, but the norm.”
All Raise was built to scale and democratize the competitive advantage that diversity brings to the venture ecosystem. Through multi-tier programming, strategic community-building, and data-driven solutions, All Raise ensures that:
We’re building the infrastructure for long-term, sustainable success in venture capital.
The people who will benefit most from the next decade of venture growth are those who recognize and adapt to a more diverse and dynamic decision-making ecosystem.
VCs who understand this will be the ones leading tomorrow’s innovation economy.
“Diverse fund managers access networks that homogenous teams simply might not see. Their lived experiences allow them to spot business models, markets, and founders others may overlook, driving differentiated pipelines and potential financial upside across venture portfolios.”
“What is happening today is a reminder that VC is a long game, and as part of that, there’s got to be a lot of intentionality about where investments are made in GPs and founders. I fully believe that a decade from now, we will see data that shows the investments made this year by women, in other women and underrepresented founders, will be the defining generational companies that drive returns. Right now, we are building it, but soon, we are going to be talking about a significantly different landscape.”
All Raise’s approach to allyship is grounded in shared leadership, advancing representation as a strategic imperative for firm growth, competitive advantage, and long-term performance. Men continue to play a vital role in advancing equity across the venture ecosystem.
Today, All Raise is proud to have active male allies from 28 leading firms as members in our community. Represented firms include Bain Capital, Bessemer Venture Partners, General Catalyst, and Union Square Ventures.
At All Raise, male allies are not passive supporters. They are engaged participants in our community, committed to advancing equity and working alongside their female and non-binary peers. Whether serving as firm leaders, investors, or sponsors, these individuals help shape a more inclusive and high-performing venture landscape.
Through engagement in All Raise programming, male allies have the opportunity to grow professionally by:
“Everyone has a role to play — regardless of background or seniority. For those in positions of influence, especially men, engaging with All Raise means more than mentorship. It’s about actively opening networks and championing underrepresented talent to build a stronger, more competitive industry.”
“There’s an incredible pipeline of future leaders coming through the All Raise community, people who may not have the title yet, but who I believe will become outstanding general partners. Mentoring through All Raise helps me stay connected across generations in venture and ultimately makes me better at my job.”
“LPs of all types seem to be much more open-minded to seeking out emerging and smaller managers as the asset class matures.”
“All Raise builds the kind of community that’s essential in venture, especially for those navigating the industry’s toughest moments. Early in my career, I co-founded a women’s support group with a few colleagues that still meets today. Long before I was thinking about starting a family, we gathered monthly to support each other through career decisions, life changes, and personal growth. That kind of support made my long-term trajectory possible.
All Raise brings that same model, peer connection, shared experience, and real accountability, to a broader scale. It creates space for women to engage in the real work of venture while also navigating the personal dimensions of leadership. I’ve benefited from this community and proudly contributed to it because that’s what we do: we invest in each other.
I’m especially grateful for the support around our Fund IV announcement and for the opportunity to be in rooms with other All Raisers who are building, leading, and facing similar challenges. When you’re in a position of power, it’s not just about holding your seat, it’s about pulling others up alongside you.”
All Raise has transformed its community structure with the launch of a national membership program, developed by a volunteer working group of senior investors. This strategic evolution has already shown remarkable success: membership has grown to over 900 investors, with more than half holding Partner-level roles or higher.
At the core of this new model is a robust membership platform — including a mobile app — that delivers essential resources such as:
This infrastructure is just the beginning. All Raise’s expanded vision for 2025 and beyond includes deepening content development and curating even more intentional opportunities
In the past year, we’ve delivered:
The VC Compensation Survey has become an essential resource for transparency in our industry. What began as a simple idea to share compensation data has evolved into a powerful tool that empowers professionals across the venture ecosystem to advocate for fair compensation. Through our partnership with All Raise, we’re extending the survey’s reach to traditionally underrepresented groups in venture capital, ensuring that everyone has access to the data they need to negotiate with confidence.
The All Raise VC Champions program connected me with exceptional mentors in my focus area and Midas List investors who provided valuable frameworks that changed how I evaluate companies. The conversations gave me confidence and tactical knowledge that I’ve implemented into my investment style. All Raise creates an easy way to access senior, experienced VCs that principal-level investors should take advantage of.
The All Raise cohorts are sacred. Having someone who understands the details of your day-to-day work is in a unique industry is not something you can go to other friends for. I know my cohort members are friends, they’re mothers, they’re wives and spouses, and have full lives. We talk about everything from deals we want to invest in together, opportunities we might be interested in, and how to balance a life and high-power career. But, we also talk about our health routines and what our intentions are for the year, what we are trying to do for ourselves, and what’s going on with our families. This is a sacred space.
“The All Raise VC Summit was the most valuable professional event I’ve attended this year—a rare space for authentic conversations without having to explain what it’s like being the only woman in the room. The Summit’s magic comes from blending seasoned partners’ wisdom with emerging managers’ fresh perspectives in a safe environment where women and nonbinary VCs can openly discuss real challenges. As both a breakout host and conversation leader, I saw firsthand how this intimate gathering is actively redefining success in venture capital.”
Designed to surface pay trends across the venture ecosystem, the survey is community-powered —with more than 700 investors and operators participating in 2024. Many use the results as a critical tool for benchmarking their value and negotiating compensation. Importantly, 69% of respondents hold checkwriting roles, reinforcing that those engaging in this effort are not only active in the industry, they are influential decision-makers shaping where capital flows.
Key findings include:
Compensation Gap by Gender
• Women: Average base salary of $333K; bonus of $100K
• Men: Average base salary of $402K; bonus of $130K
• Total gap: Over $65K annually
Even at senior levels, women are paid less, highlighting the need for
continued advocacy around compensation transparency and equity.
Compensation Gap by Race/Ethnicity
for underrepresented investors:
• Avg base salary: $342K
• Avg bonus: $80K
• Total gap: Over $85K annually, despite comparable roles
These findings are a call to action: equity in venture must extend beyond who is at the table to how they are compensated. Pay transparency is more than just about dollars earned. It is essential to building a fair and inclusive industry in which every professional is valued equally by their merits.
In October 2018, a global consortium of venture funds set out to address the stark gender funding gap — at a time when women founders were receiving just 2.2% of global venture capital. In less than a year, over 80 funds pledged to invest in women-led companies, collectively committing more than $1 billion in capital.
To sustain this momentum, founders Shelly Porges and Sarah Chen-Spellings launched Beyond The Billion to accelerate capital deployment and ensure long-term investment into women-led innovation. As of 2025, in collaboration with All Raise, Beyond The Billion confirms that pledge deployment has now surpassed over $1 billion in capital deployed to women-founded companies, up from $638 million in 2021, representing real progress.
$1.79Bn in total pledges committed
$1.04Bn+ deployed to date, representing 58.66% of total pledged capital
74.8% of capital pledged by funds with at least one female GP
Only 12% identify as gender-lens investors—yet they’ve backed 1,302 women-founded companies. Globally, the portfolio of partner funds include significant companies like Canva and Airwallex.
While the gender funding gap remains, this milestone demonstrates the growing power of coordinated capital, industry collaboration, and intentional investment strategies to drive meaningful change. Learn more:
beyondthebillion.com/ournextbillion/
“SVB’s founding support of All Raise reflects our deep, long-standing commitment to advancing equity in venture capital. Together, we’re working to build a more inclusive ecosystem where all investors and founders can thrive.”
“Partnering with All Raise has been pivotal for GingerBread Capital and the broader ecosystem. The relationships we’ve built with other passionate investors in this community and the opportunity to reconnect with investing partners, mean the world to us. Through All Raise, we’ve connected with investors who aren’t just managing capital and assessing risk; they’re building meaningful networks that are moving the industry forward.”
Founding & Managing Partner,
Cowboy Ventures
Partner,
Gingerbread Capital
Managing Partner,
Base10 Partners
Partner,
First Round Capital
CEO,
All Raise
Partner, Sequoia Capital
Managing Director, General Catalyst
CFO, Frontdoor
President & CEO, Vital Voices Global Partnership
Founder, Lever
All Raise is uniquely positioned to advance the success of women and nonbinary investors in venture capital—no matter what’s happening in the macro environment.
Now more than ever, we have the community, the data, and the momentum to drive lasting change and strengthen the trajectory of women and nonbinary investors across venture. Most importantly, it’s the dedication of our community, built through years of hard work and a shared commitment to our north star.
Progress doesn’t happen by chance. It happens because we choose to do things differently and put in the work to make it happen. So let’s commit to elevating more women and nonbinary investors into decision-making roles and empowering them to hire more diverse teams and fund more underrepresented founders.
From stronger deal flow to better fund performance, everyone benefits from a more inclusive VC ecosystem. This is our moment to act. By backing diverse investors now, we accelerate a powerful flywheel.
Join us. Fund what’s next.
Move Money. Shift Power. Change Culture.
CEO
Community Operations Manager
SVP of Marketing
VP of Strategic Operations
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Director of Customer Engagement
Manager, Data & Impact
Director of Events
Director of Program
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VP of Strategic Operations
Director of Marketing, Costanoa
Head of Operations & Platform, Uncork Capital
Partner, Cowboy Ventures
Partner, Bain Capital
Board Partner, NEA
Marketing Partner, The GP
TechStars
Vice President, Citi Ventures
Partner, 3plus VC
Vice President, Norwest
CEO
SVP of Marketing
Manager, Data & Impact
CEO & Strategic Communications Advisor, DW Consulting
Founder, Write with Ritika & Astoundly
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