Diversity VC Digest
Your (monthly) digest of all things DEI in venture capital (September’s edition)
Welcome to September’s Diversity VC Digest. Your take on all things diversity, equity and inclusion in venture capital.
This month we are saying a huge THANK YOU to our Members, our community and to our Partners who have supported our mission thus far to make venture capital more equitable. Special thanks and gratitude go to our team and our volunteers across the globe, without whom none of our work would have been possible.
This newsletter will be our last for a little while as we share that unfortunately the current funding and economic environment is such that we have to pause some of Diversity VC’s activity going into the future. We want to thank our sponsors who have tried to continue but have had to make tough decisions. Our U.S. team will continue to deliver projects in line with our U.S. sponsors. You will have received an email as a Member of the Diversity VC Standard community detailing why we have had to take this decision at this time due to the loss of funding, and what this means for your ongoing support with the Diversity VC Standard and platform. Please reach out to info@diversity.vc with any questions.
Since our founding and the publication of our first research report, we are humbled to see the number of reports and research that have become established fixtures of the annual reporting cycle. We have always believed that defining, and scoping out the size of, the problem are the foundation on which to build meaningful change. Change that shifts systems and gives overlooked founders and underrepresented investors a voice.
Your commitment to change has seen us move decisively from insights to action. With your support we have:
published and expanded the geographies covered by The Equity Record: https://diversity.vc/all-resources/
supported a growing number of investors with their DEI frameworks and reporting requirements: https://diversity.vc/diversity-vc-standard/
forged partnerships with incredible sponsors: https://diversity.vc/about-us/
collaborated with the amazing ecosystem players also building a more equitable venture capital industry. Please do go and give them a follow and show support for their work:
Women In Venture Capital Europe:
https://www.wvce.tech/
European Women in VC:
https://www.europeanwomenvc.org/
the British Business Bank’s Investing in Women Code: https://www.british-business-bank.co.uk/about-us/our-values-and-culture/investing-in-women-code/
Level20:
https://www.level20.org/
Innovate UK: https://iuk.ktn-uk.org/investment/
EIF: https://www.eif.org/index
Black Founders Fund: https://startup.google.com/programs/black-founders-fund/europe/
VentureESG:
https://www.ventureesg.com/
ESG in VC:
https://www.esg-in.vc/
Balderton’s ESG Start Up Guide is a must-read: https://www.balderton.com/playbooks/startup-guide-to-esg/introduction/
And so many more…we are forever thankful 💛
The most exciting pieces have seen the DEI in VC business case validated:
📣 A SNEAK PREVIEW HEADS UP ON WHAT WE HAVE BEEN WORKING ON… 📣
We will be launching our DEI Term Sheet at the Sifted Summit on October 4th, in London.
We are thrilled to be unveiling our joint DEI Term Sheet in partnership with VentureESG. Special thanks to the driving forces (and penholders!) of Amina Ahmad, Shaun Chaudhuri and Johannes Lenhard. This has taken months of careful work, legal considerations and in depth stakeholder listening, with LPs, institutional funds, family offices, endowments, GPs and founders.
We hope this term sheet clause will be used by lead investors to help portfolio companies set goals to support advancing diversity, equity and inclusion principles, process and implementation applied both internally and to portfolio companies, company-wide and embedding within company culture.
This focus and support on diversity, equity and inclusion strategy, policy development, implementation and practice is intended to align start ups to help curb the negative impacts of an unequal and non-representative start up ecosystem. It is a starting point for engagement.
Our collective DEI work is still important. We all remain committed to making the necessary changes needed, happen; in whatever newly designed guise Diversity VC will take in the future, to what we all personally commit to doing everyday in our Funds and our startups.
Whatever happens; we remain committed to the work, and to supporting you all however we can.
“Success is not final, failure is not fatal; it is the courage to continue that counts.” (a little Winston Churchill quote to spur us on)
And now, for the last time before we pause, regular (although slightly shorter) newsletter programming resumes below!
Diversity in venture news
LPs push GPs to tie fund fees to impact goals.
LP Value Alignment Assessment.
The Fearless Fund Wins A Major Victory In Battle Against Discrimination Lawsuit.
Apollo boss calls end of an era for private equity.
Why PE firm Alitheia is banking on women in Africa.
Phoenix takes stake in Hambro Perks in push to invest pensions in private companies.
BBG The State of Seed Stage Funding to Underrepresented Founders.
Nordic-based Unconventional Ventures nears €30M fund close to back diverse European teams.
Small venture capital player becomes a symbol in the fight over corporate diversity policies.
VC funds with more women in decision-making positions perform better, according to a new report from European Women in VC. It found that for every 10% increase in representation of women at a senior level, a fund's internal rate of return (IRR) improved by 1.3% points.
Sapphire, a global software venture capital firm has appointed Laura Padilla as Partner and Head of Business Development. In her new role, Laura will provide strategic counsel to Sapphire’s portfolio companies across their business development needs.
Diversity training vetted after ‘woke’ claims.
Community spotlights
Be sure to check out the 🔦Community Spotlight🔦 interviews if you haven’t already!
Harry Briggs, Partner at OMERS Ventures
Janneke Niessen, Partner at CapitalT
Zoe Peden, Partner at Ananda Impact Ventures
Marla Shapiro, Founder at HERmesa
Future VC
📣 Future VC is the first of its kind paid VC internship programme that operates at the industry level, enabling all participating funds to have the benefit of working with talented individuals from all parts of our communities. Look out for details of our 2024 applications opening soon on our website.
Mark your calendars
D&I dates:
Black History Month - 1 October - 31
Global Diversity Awareness Month - 1 October - 31
ADHD Awareness Month - October 1 - 31
International Day of Older Persons - October 1
World Mental Health Day - October 10
National Coming Out Day - October 11
World Menopause Day - October 18
National Mentoring Day - October 27
Intersex Awareness Day - October 26
Movember Men’s Health Awareness Month - November 1 - 30
Islamophobia Awareness Month - November 1 - 30
Diwali (Hindu) - November 12
Transgender Awareness Week - November 13 - 19
International Men’s Day - November 19
Transgender Day of Remembrance - November 20
Universal Month for Human Rights - December 1
World AIDS Day - December 1
Small Business Saturday - December 2
International Day of Persons with Disabilities - December 3
Human Rights Day - December 10
International Human Solidarity Day - December 20th
Hanukah (Jewish) - December 7
Christmas (Christian) - December 25
VC conference dates:
WVC:E - Oct 2-3
Sifted Conference, London, Oct. 4-5
NORDEEP Summit, Espoo, Oct. 11-12
SaaS Stock, Dublin, Oct. 16-19
Money 20/20 USA - Oct 22-25
Valencia Digital Summit, Valencia, Oct. 26-27
Web Summit, Lisbon - Nov 13-16
Slush - Nov 30 - Dec 1
COP 28, UAE - Nov 30 - Dec 12
Puzzle X, Barcelona, Nov. 7-9
Slush, Helsinki, Nov. 30-Dec. 1
iConnections Singapore, Singapore, Nov. 14-16
Art Basel, Miami - Dec 7-9
NOAH Conference, Dec. 13-14