

Over the past few months, women-focused Web3 groups, such as Komorebi, Eve Wealth, and BFF, have sprung up, enabling female VCs to get up to speed on crypto and share deal flow. It's a disparity that parallels the gender gap in venture capital, where just 23% of US investors are women, according to the National Venture Capital Association and Deloitte.īut female venture capitalists such as Bent are seeking to nip those disparities in the bud while Web3 is still in its infancy, instead of repeating mistakes of the past.Īnd as investors plow money into the hot crypto sector, these women are also working to ensure they receive their fair share. In a Pew Research Center poll, 10% of US female respondents said they had used a cryptocurrency, versus 22% of US male respondents. While the world of Web3 - the term used to describe an emerging assortment of online technology such as crypto - includes some prominent women, such as the investor Katie Haun and FTX Ventures' Amy Wu, it's garnered a reputation as a male-dominated playground, replete with strip-club after-parties and high-profile Twitter feuds.

For Bent, it ended up being a gateway to a broad array of other crypto-focused groups, such as the Komorebi Collective, a decentralized autonomous organization, or DAO, focused on investing in female and nonbinary crypto founders. The Crypto Coven, a nonfungible-token project featuring digital art that depicts a variety of witches, has gained a strong following among women in venture capital. "That has its place, but at the same time, it's not always the most welcoming culture," she said.
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When Mercedes Bent, a partner at Lightspeed Venture Partners, first came across the Crypto Coven in November, she realized she'd finally found a Web3 community that felt like a good fit, rather than the groups full of "crypto bros" she'd previously encountered.
