
Radical Truth
Why The Funding Gap For Women Is Actually Getting Worse
Women rarely default on bank loans. Banks still lend them less and charge them higher interest. That is not risk pricing. It is bias, and it costs $1.7 trillion. This is TBLI Radical Truth with Robert Rubinstein. When Anne Ravanona started, the gap was $300 billion. Everyone called it a scandal and commissioned a report. Thirteen years later it is $1.7 trillion. Her argument: this is not a diversity problem but a capital allocation failure, and whoever sees it first is sitting on the biggest arbitrage in the market. Anne Ravanona is the founder of Global InvestHer and entrepreneur in residence at INSEAD, with 25 years in global business. She served three years on the jury of the French president's Simone Veil Prize, put women's economic empowerment proposals to President Macron, and has spent six years in the EU delegation to the W20, which advises G20 leaders. Her target is one million women funded by 2030. WHAT'S COVERED - 2% of global venture capital goes to women founders, 3% in Europe, and only 12% of cheque writers are women- 1% of corporate purchasing and 1% of government purchasing worldwide goes to women-owned businesses- Women rarely default on loans, yet banks lend them less and charge higher rates- Her own son is 70 to 80% more likely to get funded, and he does not have to be good- "I have to ask my wife about this": what happens when a woman pitches a product for women CHAPTERS 00:00 From $300 billion to $1.7 trillion01:07 Who is Anne Ravanona02:06 Joan of Arc, and the question she asked at eight02:47 The 2012 question that changed her career04:18 Finding the World Bank IFC number04:38 Passed over, paid less, fired on maternity leave05:36 "I have to ask my wife about this"06:22 Founding Global InvestHer06:51 Asking investors how many women they funded10:01 The email she twice deleted as spam14:05 The W20, and the G20 finance ministers15:17 Thirteen years at 2%: is this a failure?17:39 $28 trillion, what full participation is worth19:06 Her son, 70 to 80% more likely to get funded19:34 "I see it as arbitrage"20:00 The wealth transfer coming to women23:57 A model of business designed by men for men26:03 Risk-averse or risk-aware?27:14 The next guy in a hoodie33:39 Women rarely default, and banks still charge them more35:10 Carly Fiorina, Iceland, and women called in to fix37:07 Ghosting, and a Glassdoor for VCs39:46 Red flags, and the founders who said no45:01 Why they both tell founders to bootstrap52:01 Ranking 1,100 funders on how women-friendly they are52:58 BuyFromHer, and the 1,100 companies on it59:55 How listeners can help MORE ON ANNE RAVANONA Global InvestHer: https://www.globalinvesther.comBuyFromHer: https://www.buyfromher.comAnne Ravanona on LinkedIn: https://www.linkedin.com/in/anneravanona/ ABOUT THE TBLI RADICAL TRUTH PODCAST Most finance podcasts protect the industry. This one interrogates it. I'm Robert Rubinstein. For 30 years TBLI Group has been the world's leading ESG and impact investing network. Every week on this show, one unfiltered conversation with someone actually moving capital toward a liveable future, and no polite silence about the ones only claiming to. No sponsors. No pretending. THE EXTRACTION MACHINE How business takes your money, your work, your resources, your data and your future, while presenting itself as something else entirely. Robert Rubinstein's next book, from 30 years inside the system. If this conversation makes you question where your money is actually going, The Extraction Machine takes that investigation much further. TBLI GROUP https://www.tbligroup.comRobert Rubinstein on LinkedIn: https://www.linkedin.com/in/robertrubinstein/ #VentureCapital #WomenEntrepreneurs #GenderLensInvesting #FemaleFounders #StartupFunding #ImpactInvesting #AccessToCapital #WomenInFinance #SustainableFinance #WomenInVC #AnneRavanona #TBLIRadicalTruth Recorded in August 2026.






