New diversity ‘standard’ for VC firms launches | Sifted

Merit, a new, free VC training programme launches today — and hopes to offer a scalable solution to the VC industry's diversity problem.

“People also now feel like if they haven’t made an investment into a female founder or a diverse founder, they can no longer say it’s a ‘pipeline problem’. There are now so many things out there that you can use to change your system and process, that there’s no excuse for not doing so anymore.” “Some people really don’t feel like they’re there yet,” says Warner. “They’re so far away from meeting the criteria that it doesn’t make sense to go through certification.”

“It’s important that funds are collecting data — on inbound pitches, networks, where deal flow is coming from.” Diversity VC also won’t be naming and shaming any funds for not applying — or for failing the assessment process. Of the funds already in the process, “some are doing incredibly well on deal flow, while others are doing better on internal policy and culture,” says Warner.

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