Happy Women’s History Month! To celebrate female entrepreneurs this week, we delved into the representation of female founders in the online private markets for 2023. As a refresher, in August, we analyzed gender representation for the first half of 2023 across all deals, including both equity and debt. This week’s analysis examined equity deals that raised capital under Regulation CF and Regulation A. These deals began on or after January 1, 2023, and concluded on or before December 31, 2023.


  • There were 578 online deals in 2023. 157 raises, 27% of them, featured at least one female founder. It’s important to note that this analysis considered both all-female and mixed-gender founding teams. 
  • According to Pitchbook data, female-only teams accounted for 7% of venture deal count, while mixed-gender teams represented 19% of venture deals in 2023.
  • Companies raised $228.5 million in 2023 from the online private markets. Those with at least one female founder secured $51.3 million, equivalent to 22.5% of the total raised. 
  • By comparison, 2% of venture capital went to female-only founding teams. 25.5% of venture funding was given to mixed-gender teams in 2023.
  • Female founders remain underrepresented in both the online private market and traditional ventures. If you want to support female entrepreneurs this month and in the future, check out our monthly roundups of underrepresented founder deals
  • You can also use KingsCrowd’s Advanced Search Tool to sort for female-founded companies actively accepting capital!


To reiterate, this week’s focus was exclusively on equity deals with at least one female founder. In the coming weeks, we will review the data for debt deals and further analyze insights into female-only teams. Stay tuned for more insights into the gender breakdown of entrepreneurs in the online private markets.