Bridging the Trust Gap: Women, Non-Binary Founders, and Venture Capital
In early February, our team at the Pond-Deshpande Centre gathered with six organizations (Canadian Women’s Foundation, Esplanade Québec, New Power Labs, Spring, SVX and WEBC) from across the country to discuss a project we’ve been collaborating on for the past two years: WIN-VC. This initiative is dedicated to creating equal opportunities and access to venture capital for women and gender-diverse founders, and in the face of ongoing economic shifts, this work feels more critical than ever.
One of the biggest insights from our conversations was how difficult it is to truly see systemic barriers—unless you’ve experienced their negative effects firsthand. And when it comes to venture capital, one major barrier became clear: there is a profound lack of trust from women in the investment ecosystem.
At the outset of this project, we interviewed venture capitalists and repeatedly heard that the core issue was a lack of women pitching. However, when we spoke to women founders, we heard a different story: they have great ideas and are trying to bootstrap their businesses instead of seeking investment. This disconnect reveals a reinforcing cycle—if we don’t address both sides of the equation, the problem only deepens.
The good news? Change is happening. Through WIN-VC, we’ve seen firsthand how investors are gradually shifting some practices to make the space more inviting to women. At the same time, we continue to actively encourage women to engage with venture capital so their ideas can take off.
One key component of our work has been training in Investor Q&A, a program developed in Halifax by Dr. Ellen Farrell. Research shows that traditionally female-gendered behaviors are often penalized in investor pitches. This platform helps women refine their approach and practice using language that resonates with investors, increasing their chances of securing funding. It’s already being deployed in our ecosystem, and we’re seeing the results.
A crucial research partner in this initiative has been New Power Labs, whose insights provide further evidence of the systemic barriers at play. You can explore their findings here: New Power Labs Insights.
The road to an equitable venture capital ecosystem is long, but through programs like WIN-VC, we are actively building bridges—helping women founders gain the confidence, skills, and access they need while encouraging investors to create a more inclusive space. Because when we change who gets funded, we change what gets built. This is critically important to women’s health, childcare, and education – just to name a few.
If you’re a founder or investor looking to be part of this shift, let’s keep the conversation going. Please reach out to me at vanessa.paesani@unb.ca.