Women are making real progress in venture capital, according to a new report from the nonprofit All Raise. The percentage of women and nonbinary partners at top firms has doubled in recent years, even as the market cooled.

On this week’s Equity, All Raise CEO Paige Hendrix Buckner joins TechCrunch’s Dominic-Madori Davis to unpack what’s driving that momentum, and where the industry is still falling short. Pay gaps persist, and the largest firms still have few women in senior partner roles, but there are signs of meaningful change ahead.

Listen to the full episode to hear:

How investors are responding to the current DEI backlash
The impact that women starting their own firms are having on the industry
What progress All Raise hopes to see in the next five years

Equity will be back Friday with our weekly news roundup, so stay tuned.

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.

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