Investment in female-led businesses fell for the first time last year, figures from a Barclays study show. The data shows that while a record level of investment went into new businesses, companies with at least one female founder saw the total put into their businesses fall by £1m. The proportion of funds invested in businesses with at least one female founder has risen from four per cent in 2011 to 15 per cent in 2016, but fell back to nine per cent last year.