Female founders outpaced by males in start-up funding in Germany

Female start-up founders in Germany continue to secure far less venture capital than their male counterparts or mixed-gender teams, according to a study published on Sunday by EY-Parthenon, the strategy consulting division of Ernst & Young.

The analysis found that of 660 start-ups that secured fresh funding, 536 (81%) had all-male founding teams and 21 were purely female (3%).

Overall, male-only teams captured 94% of total investment, while companies founded solely by women received just 1%.

Male teams secured almost €7.4 billion ($8.5 billion) in 2025, up 20% on the year, while female teams brought in only €53 million.

The representation of women is also on the decline, with the share of start-ups with at least one woman on the team at 19% in 2025, compared with 21% in 2024.

EY Parthenon attributed this "gender investment gap" largely to the sectors involved, with women more strongly represented in e-commerce, education and climate tech.

While these sectors did secure capital, they seldom achieved the volume of mega deals, it said.

Capital-intensive sectors, such as software & analytics, fintech and defence, which drew the large investments, remain male dominated.

This shows up in the size of deals. While women's share account for 13.3% of funding rounds of up to €1 million, it falls to 3.3% of deals exceeding €50 million.

EY-Parthenon partner Thomas Prüver notes that women tend to be under-represented in technical study courses and professions.

"But precisely these areas form the basis for capital-intensive sectors like software, defence and space," he said.