# Female Founders Face Uphill Battle for Venture Capital, but Preparation Can Level the Field
Nearly 80% of women business owners say securing funding proves harder for them than for men. Yet those who win investment generate double the revenue per dollar compared to male-led ventures, according to research cited by entrepreneur Ton Nu Xuan Quyen.
Quyen, author of “Conquering the Sharks,” recently advised Ho Chi Minh City entrepreneur Le Thi Thu Thuy on navigating the fundraising landscape. Her central message: women founders must stop undervaluing themselves.
**Timing Matters More Than Desperation**
Quyen recommends beginning fundraising preparation six months to two years before capital becomes critical. Companies with less than six months of runway rarely convince investors.
“Don’t wait until you’re broke to seek funding,” she said. The ideal moment comes after proving the business model works, not before. Raising too early leads to undervaluation.
**Three Phases of Preparation**
Quyen structures fundraising like a movie launch. First, internal preparation using the 5W1H framework: why raise, what goals, when, where, which investors, and how. This includes standardizing accounting, shareholder structure, and legal documents.
Second, a teaser phase three to six months before official fundraising. Send attractive previews to potential investors.
Third, patience during disbursement. From pitch deck submission to receiving funds typically takes 10 weeks minimum, often up to a year.
**Documentation Checklist**
Investors encounter a business through multiple touchpoints before any meeting. Quyen outlines several required materials:
– Teaser: 4-8 pages introducing the opportunity
– Pitch Deck: 10-13 slides with narrative structure, charts over text, and consistent branding
– Financial reports: internal versions for early rounds, polished statements for due diligence
– Online presence: website, social profiles, and company email must shine before investors research
**Strategy Beyond Paperwork**
Quyen stresses referral networks as the most effective fundraising channel. She advises meeting smaller investors first for practice before approaching larger funds.
Transparency in financial records matters enormously. She cites an example where dual bookkeeping saved 16 billion VND in taxes but cost 35 billion VND in business valuation.
For female founders specifically, Quyen identifies three critical skills: confidently discussing value and numbers, calmly answering biased questions about family obligations, and deeply understanding financial data.
Meanwhile, data points toward slow progress. Venture capital allocated to women-founded businesses rose from 18.7% in 2022 to 22.8% in 2023, according to Pitchbook and Deloitte.
Raising capital resembles setting sail: prepare your gear, understand the waters, and choose the right season. Quyen’s parting advice to Thu Thuy? Understand why you’re raising, prepare early, leverage connections, and never cap your own worth.
