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Broadening horizons

NVCA offers help to diversify VC firms

The National Venture Capital Association has released sample human resources policies to help venture capital firms diversify beyond their current predominantly young white male networks.

Coincidentally released the day before the March 8 National Day Without a Woman general strike, the ”Sample H.R. Policies for Attracting and Retaining Diverse Talent” includes non-discrimination, recruitment, child care leave, mentorship and flexible work arrangement policies.

NVCA-Deloitte Human Capital Survey results released at the same time revealed venture capital firms have a long way to go. While 45% of venture capital firm employees, including support staff, are female, only 15% of investment professionals are female. Further, only 11% of senior executives at the investment partner level or equivalent are women. However, women are overrepresented in support roles, making up 95% of administrative staffs.

Not only are venture capital investment executives mostly male, they are also mostly white. Of all investment professionals, 80% are white, 17% are Asian/Pacific Islander, 2% black or African-American and 1% Hispanic or Latino. Eighty-five percent of investment partners are white and 13% are Asian/Pacific Islander. There were no black or African-American in the sample.

And venture capital is a young person's game. Some 35% of investment professionals are ages 22 through 35; 39% are 36-51; 24% are 52-70; and 2% are older than 71.

The policies can be downloaded from the NVCA website.

This article originally appeared in the March 20, 2017 print issue as, "NVCA offers help to diversify VC firms".