Looking for venture capital for your Internet company? If you’re white, between the ages of 35 and 44, and a former CEO or company founder, a recent report by CB Insights suggests you have a better chance than most.

Keep in mind that figures lie and coincidence does not imply causation. That said, here’s an interesting look at the demographic and geographic breakdown of who won VC favor in the first half of 2010.

The \"Race\" for Funding

All-Asian founder teams won the big bucks (about $4 million per deal), nearly twice as often as all-white or mixed-race teams, on average. California VCs shelled out 25 percent more for Asian founders than Caucasian ones.

New York and Massachusetts VCs put 30-40 percent more in Caucasian-led firms than those with Asians at the helm. If your team is comprised of mixed races, California is the place to go. They beat the all-white teams there.

Do Entrepreneurs Improve with Age?

Overall, businesses led by 35- to 44-year-olds got the biggest slice of the VC pie and young entrepreneurs (ages 18 to 25) got the smallest. In terms of deal size, 45- to 54-year-olds raised on average $1 million more per deal than the lowest-average-deal-size group, 26- to 34-year-olds. But geographic differences were substantial.

In Massachusetts, the majority of VCs partnered with older entrepreneurs (45- to 54-year-olds). A full 46 percent of investees were around when Neil Armstrong made the first footprints on the moon. By contrast, California’s “seasoned citizens” grabbed only 18 percent of deals, and New York’s accounted for just 14 percent.

For those whose footsteps arrived on the planet after Apollo 11 but before A Star is Born hit the silver screen, California is the place to go. There, 35- to 44-year-old founders accounted for almost half the deals. The Big Apple was a good place for seed funding for this group too, but New York VCs were equally enamored with 26- to 34-year-olds.

California was apparently the wrong place to try to raise money for younger demographics. Not a single 18- to 25-year-old on CB Insights’ radar successfully wooed a VC in the first half of last year. In Massachusetts, while young entrepreneurs still took last prize in overall funding, on a per-deal basis they were able to raise as much as those in their parents' age group.

Want more tips on venture capitalists? Check these stories out:

Experience Counts

Forty-six percent of VC dollars in the CB Insights survey went to founders who had led prior ventures. The next most favored backgrounds -- sales and marketing, product development, and engineering -- took less than 15 percent of deals.

Are Two Heads Better Than One?

Most successfully VC-financed Internet companies had one or two founders (37 percent and 40 percent, respectively), but the prize in terms of deal size goes to foursomes.

California VCs went for two founders more than half the time, but the big bucks still went to the four-founder deals. In Massachusetts, more than half the deals and a quarter of the money went to one-person ventures. But in Beantown, threesomes led in deal size.

Oddly, just 200 miles south, two-person ventures accounted for the majority of the deals (by a small margin over one-person ventures), scoring over half the New York VC booty.

Figures Lie and Liars Figure

It’s true that this is a small, un-statistically sound sample and one deal in any particular region could skew the whole mess. But still, no money went to 18- to 25-year-olds in New York? That says something about attitudes, chances and possibilities.

If I was an internet entrepreneur eager for the attention of a VC -- make that the checkbook of a VC -- I’d be combing the historical deal data for where my venture would have the highest chance of success.

By the way, while CB Insights’ free paper didn’t report on gender biases in VC investments, it referenced an intriguing category for ventures led by \"mixed-gender\" founders. If you’re wondering what that means, as I was, you’ll have to sign up for their subscription service (or read the definitions section of the free report).

Over the past thirty years, Kate Lister has owned and operated several successful businesses and arranged financing for hundreds of others. She’s co-authored three business books including Undress For Success—The Naked Truth About Making Money at Home (Wiley, 2009) and Finding Money—The Small Business Guide to Financing (2010). Her blogs include Finding Money Advice and Undress4Success.

Image credit: nano

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If you’re white, between the ages of 35 and 44, and a former CEO or company founder,","metaTitle","The Politically Incorrect Guide to Venture Capital","contentId","the-politically-incorrect-guide-to-venture-capital-1","country",null,"metaDescription","","pullquote","","title","The Politically Incorrect Guide to Venture Capital","language",null,"content","

The \"Race\" for Funding

Do Entrepreneurs Improve with Age?

Want more tips on venture capitalists? Check these stories out:

Experience Counts

Are Two Heads Better Than One?

Most successfully VC-financed Internet companies had one or two founders (37 percent and 40 percent, respectively), but the prize in terms of deal size goes to foursomes.

Oddly, just 200 miles south, two-person ventures accounted for the majority of the deals (by a small margin over one-person ventures), scoring over half the New York VC booty.

Figures Lie and Liars Figure

Image credit: nano

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If you’re white, between the ages of 35 and 44, and a former CEO or company founder,","metaTitle","The Politically Incorrect Guide to Venture Capital","contentId","the-politically-incorrect-guide-to-venture-capital-1","country",null,"metaDescription","","pullquote","","title","The Politically Incorrect Guide to Venture Capital","language",null,"content","

The \"Race\" for Funding

Do Entrepreneurs Improve with Age?

Want more tips on venture capitalists? Check these stories out:

Experience Counts

Are Two Heads Better Than One?

Most successfully VC-financed Internet companies had one or two founders (37 percent and 40 percent, respectively), but the prize in terms of deal size goes to foursomes.

Oddly, just 200 miles south, two-person ventures accounted for the majority of the deals (by a small margin over one-person ventures), scoring over half the New York VC booty.

Figures Lie and Liars Figure

Image credit: nano

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The \"Race\" for Funding

Do Entrepreneurs Improve with Age?

Want more tips on venture capitalists? Check these stories out:

Experience Counts

Are Two Heads Better Than One?

Most successfully VC-financed Internet companies had one or two founders (37 percent and 40 percent, respectively), but the prize in terms of deal size goes to foursomes.

Oddly, just 200 miles south, two-person ventures accounted for the majority of the deals (by a small margin over one-person ventures), scoring over half the New York VC booty.

Figures Lie and Liars Figure

Image credit: nano