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Laxman Pai, Opalesque Asia: U.S. venture capital firms are showing some progress in increasing gender, racial and ethnic diversity, but gains are small and uneven.
More VC firms are incorporating DEI strategies, said the "VC Human Capital Survey," powered by Venture Forward, the National Venture Capital Association (NVCA), and Deloitte.
Nearly one-half (46%) of surveyed firms have a diversity strategy (up from 44% in 2020, 35% in 2018, and 15% in 2016), and 44% have an inclusion strategy (up from 41% in 2020, 31% in 2018, and 17% in 2016).
Diversity, equity, and inclusion (DEI) data from 315 venture capital (VC) firms, representing more than 5,700 U.S.-based, full-time employees and $594.5 billion in assets under management, is part of the survey.
In 2022, 60% of firms said they either have a staff person or a team responsible for DEI (an increase from 55% in 2020, 34% in 2018, and 16% in 2016). The majority of firms have established or plan to establish specific DEI goals. This new question found that 40% of the firms surveyed in 2022 stated they now have specific DEI goals, while 23% plan to implement goals within the next six months.
According to the survey, more VC firms are seeing DEI interest from limited partners (LPs) and focusing on DEI at portfolio companies. In 2022, 47% percent of firms said that LPs requested their DEI details within the last 12 months, an increase from 41% in 2020, and 36% in 2018. In 2022, 38% of firms said they requested DEI ...................... To view our full article Click here
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