VC Firms To Obama: We Will Fund More Startups Led By Women And Minorities


Neal Ungerleider

August 6, 2015

The most prominent venture capital firms in the tech industry have committed to promoting diversity in the VC space and funding more startups led by women and minorities. President Obama will make the news public during the inaugural White House Demo Day on Tuesday.

The National Venture Capital Association (NVCA), an umbrella trade group, issued a group letter today pledging to revise HR policies in their firms, issue best practices for diversity hiring, and contribute to programs encouraging women and underrepresented minorities to be entrepreneurs.

Andreessen Horowitz, Kleiner Perkins Caufield Byers, and 43 other VC firms have signed the agreement. Kleiner Perkins recently won a high-profile gender discrimination case filed by ex-Reddit CEO Ellen Pao that pushed gender issues in venture capital into the spotlight.

[via USA Today]

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This article was written by Neal Ungerleider from Fast Company and was legally licensed through the NewsCred publisher network.

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