Venture capital, it seems, is still very much a boys’ club.
While more women are finding careers in venture capital than ever before, there’s still a significant gender gap, according to research firm Preqin.
The report comes amidst interim Reddit CEO Ellen Pao’s ongoing gender discrimination lawsuit against former employer Kleiner Perkins Caufield and Byers.
In 2014, only 14.8% of senior roles in venture capital were held by women, according to Preqin, which is still a 2.7% improvement over the previous year. In 2012 and 2013, only 11.2% of senior roles in VC were held by women.
“Under-representation of women in private equity remains an issue acknowledged by the industry and organisations across the world continue pushing for change,” concludes Preqin in its report.
Other types of private equity firms show similar numbers: 14% of buyout firms show 14% of senior roles held by women over the same period, while buyout firms are at 10.5%, Preqin’s research shows.
Globally, 11.7% of senior roles in private equity are held by women the world over. Smaller firms are a little less likely to have senior leaders, while bigger firms are more likely, which does make sense.
In her lawsuit, Pao alleges that the gender dynamics at Kleiner Perkins held her back from success as a venture capitalist, placing a large portion of the blame on the company’s culture.
“I wanted to be a VC but I wasn’t able to do so in that environment,” Pao said in her testimony.
This report speaks to the massive gender gap in the technology industry overall — a gap that many are trying to close, either by tech companies promoting women in the workplace or by venture capitalists funding more woman-led startups. But there’s still a long way to go.