Heaptalk, Jakarta — Despite the growing recognition of gender diversity as a key driver of business success, women-led businesses still face an uphill battle securing venture capital. Structural biases, limited access to networks, and outdated investment frameworks continue to stifle female entrepreneurs, leaving billions of dollars in untapped potential on the table. The question is no longer whether investing in women-led businesses makes financial sense—it is why many investors are still slow to act.
Helen Wong, Managing Partner at AC Ventures (ACV), is trying to change this narrative. With over 25 years of experience in venture capital, she has prioritized ensuring that women entrepreneurs receive the funding, mentorship, and opportunities they need to thrive. Forbes recognized her among Asia Pacific’s “50 Over 50” and as one of the “Top 25 Female Venture Capitalists.” Wong has backed industry leaders like Xendit and Carsome and continues to drive ACV’s focus on climate and sustainability investments.
The Business Case for Gender-Lens Investing
Wong believes investing in women-led businesses is not just a matter of equity—it’s a proven formula for driving returns and societal impact. Research underscores this: closing the gender gap in business leadership could add up to 26% to global GDP, and women-led companies are 15% more likely to outperform male-led counterparts, representing a $5.9 trillion opportunity in market capitalization.
AC Ventures‘ 2024 Impact Report, developed in collaboration with Deloitte Indonesia, highlights that the firm’s portfolio has sustained over 30,000 jobs, 40% of which are led by women. In 2024 alone, ACV has helped create 2,000 new jobs and empowered 4 million lower—to middle—income individuals and businesses through digitalization and financial inclusion.
Despite their strong track record, women entrepreneurs face significant hurdles in securing venture capital. A report by BCG, Stellar Women, and AC Ventures, “Closing the Funding Gap for Women Entrepreneurs in Indonesia,” highlights a staggering $1.7 trillion funding shortfall. Limited access to networks, unconscious bias in investment decisions, and a lack of tailored financial support remain persistent challenges. Wong emphasizes the need for proactive investor engagement and stronger mentorship programs to bridge these gaps. AC Ventures integrates gender-lens investing to ensure women-led businesses receive the necessary financial and strategic backing to scale.
Women-led startups making an impact
AC Ventures has invested in several groundbreaking women-led startups that are reshaping industries:
- Accacia (Annu Talreja): Using AI to decarbonize real estate, an industry responsible for 40% of global carbon emissions. The platform has been implemented across 20 million+ square feet and is expanding into Southeast Asia, the Middle East, and North America.
- Astro (Marcella Moniaga, Sherlyn Gautama, Jessica Stephanie Jap): Indonesia’s leading on-demand grocery platform. The Global Private Capital Association (GPCA) highlighted ACV’s investment in Astro to advance women-led businesses in Southeast Asia.
- Rose All Day (Cindy Nyoto Gunawan, Tiffany Danielle): A top Indonesian beauty brand championing clean beauty, inclusivity, and sustainability with a strong omnichannel presence and ambitious regional growth plans.
- Xendit (Tessa Wijaya): A key player in Southeast Asian digital payments, streamlining financial infrastructure for regional businesses.
- Supermom (Joan Ong, Lynn Yeoh, Rebecca Koh): Southeast Asia’s largest parenting network, leveraging AI-driven insights to connect millions of mothers with trusted product recommendations and exclusive deals.
Beyond investments, AC Ventures champions gender diversity through ecosystem-building initiatives, including:
- Industry Collaboration: Partnering with BCG and Stellar Women to research and address funding disparities for female founders.
- Investor Training & Advocacy: Sharing strategies for increasing women’s participation in private capital at the GPCA Investor Training and She Loves Tech Global Summit.
- Climate-Focused Gender Initiatives: Participating in the IFC’s We Fund Climate peer-learning platform, launched at COP28, to support women-led climate startups through acceleration programs and investor networking.
Shaping the future of women in entrepreneurship
Wong envisions a future where women entrepreneurs have equal access to funding, mentorship, and leadership opportunities. She emphasizes the importance of fostering collaboration among investors, corporations, and policymakers to make gender inclusivity a reality. AC Ventures remains committed to leading this movement by integrating gender diversity into its investment strategies and ecosystem support.
As one of Asia’s top female venture capitalists, Wong’s journey has shaped her belief that diversity is not just about representation—it directly drives better business outcomes. Her advice to aspiring women entrepreneurs and investors is clear: build strong networks, find supportive investors, and stay resilient. The industry can foster a more inclusive and high-performing entrepreneurial ecosystem by creating pathways for women in leadership and venture capital.
