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  "documentTitle": "VC Human Capital Survey",
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      "text": "Firms that reported having a diversity or inclusion strategy (or both) said that women comprised 28% of their investment positions compared to 24% of firms with neither strategy.",
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      "text": "Executive summary\nWhy DEI matters for the VC industry\nThe diversity dividend\nBarriers to DEI progress\nGender diversity\nRacial diversity\nEthnic diversity\nOther key characteristics of the VC workforce\nTalent management and DEI practices\nTake action: How VC firms can promote DEI",
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      "text": "DEI strategy adoption: 52%",
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      "text": "Much attention has been paid to the importance of DEI in the VC industry and the positive impact that diverse teams have on performance. The percentage of firms reporting that LPs requested DEI details within the last 12 months grew to 47% in 2022, from 41% in 2020 and 36% in 2018.",
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      "text": "However, there was no correlation between having these strategies and either racial or ethnic diversity. For example, firms with at least one of these programs reported that 5% of their investment professionals were Black compared to 6% among firms with neither strategy. Similarly, both firms with at least one of these strategies and firms with neither approach reported that Hispanics comprised 7% of their investment professionals.",
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      "text": "Many firms appear to lack the tools needed to implement an inclusion strategy. While only 32% of firms said they conduct employee surveys to access inclusion, this is an increase from 26% in 2020. Firms that are serious about creating an inclusive organization should consider leveraging insights from such surveys to inform goal setting.",
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      "text": "Specific DEI goals were more often in place at large firms (52%) than at mid-size (38%) or small firms (36%) and at firms focused on technology (43%) than at those that were generalists (37%) or were life science-focused (31%). Firms that had established DEI goals most often had them regarding the makeup of investment staff (94%), non-investment staff (67%), and portfolio company employees (67%).",
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      "text": "Less than half the firms reported having formal HR programs in such areas as hiring (35%), recruitment (36%), and mentorship (25%). (Figure 11) Instead, many firms are addressing these areas through informal programs in hiring (76%), recruitment (74%), mentorship (69%), and leadership development (66%).",
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      "text": "Fifty-nine percent of firms said they had staff—either one person (23%) or a team (37%)—responsible for managing DEI. The percentage of firms with staff managing their DEI efforts has continued to increase from 55% in 2020, 34% in 2018, and 16% in 2016.",
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      "text": "More VC firms are also focused on DEI at their portfolio companies. In 2022, 38% of firms said they requested DEI details from their portfolio companies, an increase from 30% in 2020 and 19% in 2018. On the other hand, only 8% of firms said that their portfolio companies had requested such information from them, on par with 9% in 2020.",
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      "text": "More firms have adopted DEI strategies, programs, and goals to create more diverse, equitable, and inclusive workplaces, and these seem to be having their desired effect in increasing gender diversity. Firms that reported having a diversity or inclusion strategy (or both) said that women comprised 28% of their investment positions compared to 24% of firms with neither strategy. Similarly, firms with at least one of these strategies had a higher percentage of women among their junior-level investment professionals (37% vs. 31%) and investment partners (20% vs. 17%) than did firms without at least one of these strategies.",
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