Women's News: Wins and losses for women entrepreneurs

Happy Friday, Risers! Here’s the latest women’s news:

Spotlight

• Rethink Impact, the largest venture capital firm focused on women-led companies, announced a $250 million fundraise, bringing its total assets under management to half a billion dollars.

  • Despite a challenging investment environment, managing partners Jenny Abramson and Heidi Patel managed to raise the fund in one summer, supported by investors like Melinda French Gates.

  • Rethink Impact will use the new capital to continue investing in women-led businesses, emphasizing that male-dominated VC firms often overlook female founders (even though women start companies at twice the rate of men).

• On a more sobering note, venture capital firm Fearless Fund shut down its grant program for Black women business owners as part of a lawsuit settlement. The initiative had been challenged by a conservative group that claimed it was discriminatory.

World

• In the midst of war, Ukrainian women are getting manicures as an act of hope and resistance. Despite air-raid sirens and power outages, going to the nail salon provides emotional support and signals resilience.

• India’s Supreme Court ordered striking doctors to return to work or face “adverse action” after weeks of protesting the rape and murder of a female trainee. 

• Over 260 female inmates were sexually assaulted during a failed prison break in the Democratic Republic of Congo earlier this month, according to a newly released U.N. report.

Business and Tech

• The gender wage gap increased for the first time in 20 years. According to a new census report, women earned 83% of what men brought in last year, down from 84% in 2022.

• Two fashion mainstays made headlines this week, and each one featured a woman. Sarah Burton, former designer for Alexander McQueen, will take over as creative director of Givenchy, and Tory Burch solidified herself as a tentpole of New York Fashion Week.

Healthcare

• Mammogram facilities must now alert patients if they have dense breast tissue, which can make it harder to detect cancer, thanks to a new rule spurred by advocate JoAnn Pushkin.

• A new study found that more women have opted for tubal ligations—commonly known as getting “tubes tied”—since the overturn of Roe v. Wade, with the largest increase in states that ban abortion.

• Talk therapy could help women improve their sex drives after menopause, according to new research. Participants in a cognitive behavioral therapy program saw significant increases in sexual desire, satisfaction, and body image.

Election Watch

Politics

• If things go as expected, there will be two Black women in the Senate for the first time in U.S. history after the November elections. Lisa Blunt Rochester is a shoo-in to represent Delaware, while Angela Alsobrooks is in a tight race in Maryland.

• According to a new Gallup poll, 40% of young women identify as liberal compared to just 30% twenty years ago, potentially creating a powerful political force for issues like abortion, climate change, and gun control.

• Delaware state senator Sarah McBride is one step closer to becoming the first openly transgender person in Congress after winning the Democratic primary for the state’s only House seat. 

• On the 30th anniversary of the Violence Against Women Act, the Biden administration announced new efforts to tackle online harassment and abuse.

Culture

• Women swept the MTV Video Music Awards. Taylor Swift took home seven trophies, Sabrina Carpenter’s “Espresso” won song of the year, and Chappell Roan was named best new artist. Megan Thee Stallion hosted the event.

• K-pop group NewJeans accused management company Hybe of discrimination against women, demanding the reinstatement of their ousted female producer. 

• In the U.K., former Spice Girl Mel B is calling on lawmakers to pass a bill that prohibits discrimination against Afro hair.

Further Reading