), Extend plans to use machine learning to gather its data. It will look at which startups have been backed by VCs, and which have not, and then use computer vision technology to track down photos of their founders and note their perceived ethnicity.
Once Extend has gathered its data — and set a baseline — Adeyoola hopes that change can really kick in. “When there’s no data, there’s nowhere to go.” “People who work in venture capital are very data-driven; objective facts are preferred to anecdotal evidence,” says Warner. She’s seen first-hand the impact that collecting and publishing data can have — Diversity VC’s first study in 2017 looked at the number of women in venture capital, and found that 48% of UK funds had no women in the investment team.
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