Annalise Dragic was made partner at Sapphire Ventures in 2021, at the age of just 29, with huge fanfare — one of the youngest ever female partners of a European VC firm. But now, Sifted understands, she will soon be leaving the firm — one of the dozens of women who have quit the VC industry in Europe since the start of this year, a worrying trend for an industry already struggling with diversity. The women are mostly at more junior investing levels such as principal and associate, although several partners have also stepped down this year, including Dragic and Cleo Sham at Stride. Though the numbers aren’t large, they are significant, recruiters say, given the small size of the industry. Investors and recruiters say the general outflow of female talent is likely linked to dissatisfaction with the male-dominated industry and the fact that many funds are slowing investing amid a more difficult funding environment.
“It feels like I’ve seen a trend. There are lots of women in VC feeling a bit frustrated; there’s a bit of a glass ceiling and the way that women’s performance is measured and compensated is different from male counterparts,” one female investor who is leaving her firm tells Sifted. Others point out that there was a boom in VC hiring during the pandemic-induced tech craze, and the market’s readjustment means several firms are now reevaluating their headcount.
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