Using investor characteristics can further deepen the understanding whether in the presence of asymmetric information and risks investors tend to discriminate in favour of those who resemble them, e.g. those of the same gender. A different angle of homophily could be addressed by looking at who teams with whom, as some 40% of the companies in the sample count more than two founders. Such a survey would need to be conducted in collaboration with the data supplier, but would allow to confirm or eliminate the hypothesis of gender discrimination in the funding amount. Networking is a different dimension to observe and to measure.