Research shows that female entrepreneurs receive only a small fraction of early-stage investments due to investors' biases. However, little is known about female entrepreneurs' perceptions and behaviors in the funding search process. Leveraging gender homophily, we assume that female entrepreneurs would be facilitated in the funding research process by having more females in the investors' environment. We
developed an internet experiment to gain insights. Our results indicate that female entrepreneurs strongly prefer female investors when seeking or accepting investments, even after controlling for their perception of investors' warmth and competence. All in all, these results show that the gender gap in entrepreneurship is also due to the lack of female investors in the field.