Is there a gender gap in equity-based crowdfunding?

Abstract Compared to their male peers, female entrepreneurs tend face greater obstacles in raising venture funding from business angels, capitalists, and financial institutions. In this paper, we investigate whether gender gap also exists equity crowdfunding. Based on data the German crowdfunding market, find that ventures with without managing directors are equally successful capital when launching first campaign. contrast, former significantly less than peers seasoned campaigns, disparity cannot be fully explained by differences other venture-related or entrepreneur-related characteristics. However, offerings narrows if set more ambitious thresholds. Overall, our results indicate pitching campaigns a promotion-oriented way is sensible strategy for improve success.