[PitchBook] Prioritizing founders' mental health could pay off for VCs
Mental health has rarely been discussed in the venture capital community but the issue has garnered more attention recently, particularly among startup founders finding themselves under increased pressure in the current downturn.
By Leah Hodgson
The pressures of raising funds, meeting performance targets and coping with a stressful work-life balance are taking their toll on many entrepreneurs' mental well-being. According to a survey by data-sharing platform Startup Snapshot, some 72% of founders reported that launching their own business had a negative impact on their mental health.
As a result, more venture capitalists are putting resources towards supporting founders' mental health. But many in the industry believe more needs to be done.
"[Mental health concerns] are prevalent everywhere you look [in the startup community],” said Lisa Mikkelsen, head of global human capital at Flourish Ventures. "Being a founder, there are a lot of unknowns and it's like being in a huge pressure cooker. You have funders and employees that you're responsible to.”