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Analysis
VC Human Capital Survey
Venture capital diversity, equity, and inclusion
What does the venture capital (VC) industry workforce look like in terms of demographics? What is the current state of VC diversity, equity, and inclusion (DEI)? The VC Human Capital Survey, powered by Deloitte, Venture Forward, and the National Venture Capital Association (NVCA), answers these and other questions for VC firms seeking to expand DEI within both their teams and portfolio companies.
About the VC Human Capital Survey, fourth edition
The VC Human Capital Survey assesses the state of the United States VC industry workforce, with a special focus on DEI. Results from this edition were benchmarked against findings from the first, second, and third editions, which were originally conducted in 2016, 2018, and 2020, respectively.
Conducted in 2022, this fourth edition requested firm demographic information (e.g., firm size and investment stage focus) and demographic information for each employee (e.g., gender, race, and ethnicity). Additionally, firms were asked to provide information regarding their talent management practices and DEI programs.
While there have been other industry assessments of DEI in VC, this survey provides a more holistic perspective. We gathered data from VC firms of various types and sizes, examined DEI for a variety of groups across all types of positions, and assessed firm talent management strategies.
VC Human Capital Survey, fourth edition
2022 interactive dashboard results
In addition to the report, this dashboard provides information based on the firms surveyed on:
- Who comprises the VC industry workforce
- Whether gender, ethnicity, or age groups have different experiences
- What firms are doing to improve DEI
For optimal viewing, it’s recommended to view the dashboard on a desktop device such as a laptop versus a handheld device such as your mobile phone.
DEI defined
Diversity: The representation, in a group, of various facets of identity, including (but not limited to) race, ethnicity, nationality, gender identity, LGBTQ+ status, socioeconomic status, ability, religion, and age.
Equity: The outcome of diversity, inclusion, and anti-oppression, wherein all people have fair access, opportunity, resources, and power to thrive, with consideration for and elimination of historical and systemic barriers and privileges that cause oppression. Equity aims to get everyone beyond those systemic barriers to the same starting place.
Inclusion: The actions taken to understand, embrace, and leverage the unique strengths and facets of identity for all individuals so all feel welcomed, valued, and supported.
First edition
In the first edition of the survey conducted in 2016, we set out to create a benchmark for DEI in the VC industry. The report was developed to dive deeper into the numbers and draw out key insights on steps that can be taken to create a more inclusive industry.
NVCA-Deloitte Human Capital Survey, first edition
Second edition
In the second edition of the survey conducted in 2018, we compared data to the 2016 baseline findings to identify key changes and understand how the industry had changed from a DEI perspective.
NVCA-Deloitte Human Capital Survey, second edition
Third edition
In the third edition of the survey conducted in 2020, we compared data to the 2016 and 2018 baseline findings to identify key changes and understand how the industry had changed from a DEI perspective.
NVCA-Deloitte Human Capital Survey, third edition
The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances.
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