Women, minorities underrepresented at venture capital firms
- A joint survey by the National Venture Capital Association (NVCA) and Deloitte shows that although women make up 45% of the workforce at venture capital firms, few (11%) are investment partners or hold comparable positions on venture investment teams.
- The rates for African Americans and Hispanics are even worse. Based on the report’s findings, nonwhite employees make up 22% of venture capital positions. African Americans occupy 3% of such jobs, while Hispanics or Latinos hold 4% and Asian/Pacific Islanders hold 14%.
- Bobby Franklin, president and CEO of NVCA, said the report confirmed what the venture capital industry already knows: Its workforce isn’t representative of the U.S. population.
Bobby Franklin, president and CEO of NVCA, said the report gives a better picture of the venture capital industry and the programs that can support its diversity efforts. He also referenced research showing that diverse teams make better decisions.
No seasoned HR professional is unacquainted with the issues of workplace diversity. Progress in some sectors has been so poor that women and minorities stand to lose out on billions in missed opportunities in the form of both new jobs and promotions over the next decade.
Employers should conduct their own studies on workplace diversity to find out if their efforts are missing or hitting their mark. The development of diversity hiring programs has been cited by observers as one of the top trends they expect to see among HR departments in 2017.
- National Venture Capital Association New Survey Reflects Lack of Women and Minorities in Senior Investment Roles at Venture Capital Firms