Lithuania Joins Level 20's European Gender Diversity Report for the First Time
Lithuania Joins Level 20's European Gender Diversity Report for the First Time
Level 20 has published its European Gender Diversity Report 2026. It is the largest study of women in European private equity and venture capital. This year it covers 19 countries, 989 firms and more than 13,800 investment professionals. And for the first time, it includes Lithuania. Estonia, Latvia, Czechia and Romania also join the study this year.
Lithuania at a glance
The report counts 13 Lithuanian firms and 63 investment professionals. Women hold 17% of these roles, while the European average is 23%. But the numbers change a lot by career stage:
- Senior level: women hold 10% of roles. The European average is 13%.
- Mid-level: women hold 45% of roles. That is close to parity and well above the European average of 26%.
- Junior level: women hold 18% of roles. The European average is 35%.
- All-male teams: 42% of teams have no women. The European average is 29%. In Lithuania, this means five firms: two in PE and three in VC.
How we read these numbers
Lithuania is a small market, so we read these figures with care. Most of our investment professionals work at senior level: 41 of 63. The mid-level and junior groups each have just over 10 people. So one hire or one departure can move a percentage by several points. We expect the figures to shift from year to year. We see the strong mid-level result as a good sign, but we don't treat it as a trend yet.
What the market told Level 20
Level 20 also spoke with professionals across the Baltics. They talked about three main topics: how well people know the industry, flexible working and hiring junior staff. Firms now visit universities to tell students about investment careers. But Lithuania offers few local jobs, so some candidates look for work elsewhere in Europe. Many people also see investment jobs as rigid, especially around family leave. Some said that limited childcare keeps women away from these jobs early in their careers. The report places Lithuania, Latvia and Estonia in the same group. Their main challenges come from hiring and from wider social norms.
Why senior women matter
Across Europe, senior women make a clear difference. In offices with at least one senior woman, women hold 32% of investment roles. In offices with only men at senior level, that figure is 16%. The data does not show which comes first. We assume both effects play a part. Senior women attract and keep other women, and firms that welcome women also promote them. The report gives firms practical steps on culture, sponsorship, promotion and family leave.
Read the report and join the event
Read the full report here: https://www.vca.lt/reports
Level 20 will host an online event for members on 15 October, from 13:00 to 14:00 GMT. That is 16:00 to 17:00 in Vilnius. A panel of investment professionals will discuss the data. You can register through the Level 20 member portal. Membership is free for anyone who works in PE or VC. Join here: https://www.level20.org/join-us/
