CEO DATELINE - Association finding: Venture capital workforce lacks diversity
CEO DATELINE - Association finding: Venture capital workforce lacks diversity
- December 15, 2016 |
- Walt Williams
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A new survey commissioned by the National Venture Capital Association has found that women have relatively few leadership roles at venture capital firms while minorities comprise only a small percentage of industry employees.
Women currently make up 45 percent of the venture capital workforce, according to the study conducted by the Deloitte University Leadership Center for Inclusion. However, women represent 11 percent of investment partners or equivalent on venture investment teams.
Minorities were underrepresented among the workforce as a whole. Non-white employees comprise 22 percent of workers at venture capital firms. Only 3 percent are African American employees and 4 percent are Hispanic or Latino.
"The survey results reinforce what we already know, which is that the venture industry is not representative of the overall population of the U.S.," NVCA CEO Bobby Franklin said. "Transparency is a powerful force for change, and we now have a clear benchmark by which we can measure progress to create a more inclusive venture capital industry."
The survey also found a strong correlation between existence of human capital strategies at venture firms and representation of women and minorities at those firms. Firms with hiring strategies in place were more likely a larger percentage of women and minorities on staff than firms without strategies. http://bit.ly/2hzUJha
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