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By location
Funding availability varies widely depending on location.
Local regulatory environments, market maturity, and investor networks play a key role in shaping how and where funding is distributed, creating disparities in access to capital across regions and therefore slower or faster innovation.
Deep dive
The proportion of all venture capital deployed into female-founded companies
by top five countries in Europe in 2025
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71%
United Kingdom, France, and Germany lead the countries with the highest venture capital investment into female-founded companies
Total venture capital (€M) invested by venture capital firms per country
Europe 2025
UK
France
Germany
Switzerland
Netherlands
Denmark
Spain
Italy
Belgium
Sweden
Luxembourg
Finland
Austria
Ireland
Norway
Portugal
Estonia
Poland
Czechia
Lithuania
1541
1072
708
331
296
220
231
121
147
342
female-founded
3
257
85
104
160
35
37
4
9
7
%
10%
12%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
agnostic
14765
7121
7493
2800
2410
1084
1850
1032
1115
2460
143
857
491
985
931
402
257
145
247
86
Data source: Dealroom
12%
Finland leads the way, with a third of total venture capital invested in the country going to female-founded companies
The average proportion of venture capital invested in female-founded companies across Europe
Europe 2025
Data source: Dealroom
Countries with above European average portion of venture capital invested in female-founded companies
Europe 2025
Finland
Denmark
Norway
Austria
France
Estonia
Sweden
Belgium
30%
20%
17%
17%
15%
14%
14%
13%
Data source: Dealroom
'Finland has a real opportunity
to strengthen the support systems that help science-based innovations reach the market. The research potential is strong, but commercialisation needs more coordinated backing. I want to help close that gap and support scaling.'
Noora Hujala, SOLID IO
Finland
Raised €1.2M in February
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The majority of ecosystem players are less optimistic about the future of European innovation
Compared to 12 months ago, are you more or less optimistic about the future of European innovation?
Source: Female Innovation Index Survey 2026
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4%
Add a Title
27%
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32%
Add a Title
45%
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5%
Significantly more
More
No change
Less
Significantly less
The majority of female founders prioritise alignment of vision when choosing investors, while early-stage founders value existing relationships
In your opinion, what's currently limiting Europe's ability to innovate?
Low risk appetite
Fragmented markets
Too few billion-dollar exits
Lack of early-stage capital
Lack of growth capital
Lack of global ambition
Too much bureaucracy
Too much regulation
Source: Female Innovation Index Survey 2026
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82%
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43%
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34%
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32%
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22%
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19%
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5%
female founders
investors
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21%
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46%
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65%
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31%
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28%
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21%
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4%
'It’s time to think seriously about European sovereignty. With deep technical talent, strong research infrastructure, and world-class expertise, Europe is uniquely positioned to strengthen its independence and lead in critical technologies that will shape the future.'
Rhona Togher, Lios
Ireland
Raised €6.25M in June
Female founders believe it is harder to attract technical talent in Europe than it was twelve months ago
As part of your fundraising, did you approach U.S. investors?
63%
Source: Female Innovation Index Survey 2026
of early-stage female founders had approached U.S. investors as part of their fundraising round in 2025
52%
of growth-stage female founders had approached U.S. investors as part of their fundraising round in 2025
Add later
What did you find appealing about U.S. investors?
Pathway for U.S market expansion
Hands-on strategic support
Larger funding capacity
Greater risk appetite
Global networks and expertise
Access to scaling capital
Operational experience
Long-term vision
Fast decision-making
Better investment terms
Source: Female Innovation Index Survey 2026
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72%
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51%
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29%
Add a Title
23%
Add a Title
21%
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14%
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13%
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10%
Add a Title
4%
early-stage
growth-stage
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60%
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34%
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33%
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19%
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20%
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22%
Add a Title
12%
Add a Title
13%
Add a Title
0%
Add a Title
4%
Add a Title
0%
female founders
'As a researcher turned founder, I’ve learned that grants are useful but slow, while VC is fast but demands rapid growth. The key is balancing both — building credibility with grants, then shifting to VC to build business momentum.'
Maheera Ghani, Cambridge Dielectrix
United Kingdom
Raised €188K in September
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Download detailed country-specific sheets with more granular data on investment in female-founded companies
By location
What's included
Total size of fresh capital (€B) raised by venture capital
% of female-founded companies with first time venture capital investment
% of venture capital raised by female-founded companies out of the total deployed in 2024
Number of companies that raised venture capital
Capital invested (€M) into female-founded companies
Total capital (€M) invested by venture capital firms
Number of female-founded companies that raised venture capital
Top sectors of unfunded, not venture capital backed female-founded companies
Top sectors of funded, venture capital backed female-founded companies
Female-founded companies that raised 10 biggest venture capital rounds
Spotlight
Download the Female Innovation Index 2026 for country-by-country data
Data source: Dealroom
Coming up
Meet the team behind the Index, who have brought to you the insights about the shaping the innovation landscape for female entrepreneurs across Europe
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