Entrepreneurial women and private capital The New Zealand perspective

Purpose - To explore the demand and supply of private capital for successful women entrepreneurs in New Zealand. To obtain and interpret fine-grained information in order to mitigate the research gap on growth finance for women-led businesses in New Zealand. Design/methodology/approach - Multiple approaches for data collection and analysis. Includes interviews with key decision makers in the private capital industry and an e-mail survey of venture capitalists (supply-side) and the narrated experiences of women entrepreneurs (demand-side). Findings - Quantifies the degree of women's current participation in the venture capital (VC) industry and delineates key considerations in the private capital investment decision-making process. Confirms the absence of overt gender discrimination in the VC market but draws attention to the presence of other - some of which are more hidden - considerations which affect mobilisation of private capital by women entrepreneurs. Research limitations/implications - Highlights that a combination of supply-side (private capital) and demand-side (entrepreneurs) influences, as well as country-specific structural and policy factors, needs to be considered when seeking explanations for the lower incidence of private capital to women business owners. Originality/value - Mitigates the large research gap on women's entrepreneurship in New Zealand and supplements the literature on the private capital and women's business nexus. Signals the importance of policy considerations in growing the role of private capital.