In response to persistent gender gaps in entrepreneurship, management scholars have shown increasing interest in women’s entrepreneurship in recent years. To explore the multi-layered contexts shaping women’s entrepreneurial behaviors and outcomes, we conducted a systematic review of 181 studies published in top management journals between 1998 and 2024. Our analysis conceptualizes women’s entrepreneurial activities and outcomes as both influenced by and influencing macro- and meso-level contextual factors, culminating in the development of a three-level “Coleman's boat” framework to organize the literature. This review makes three key contributions: First, it offers a multi-level perspective on women’s entrepreneurship as a process of navigating organizational and institutional resources and constraints. Second, it emphasizes the interconnectedness across contextual levels. Third, it discusses the impact of women’s entrepreneurship on socio-relational contexts and institutional environments.