As calls for improving diversity increase, many VCs are silent

Over the past two weeks, there’s been a flood of direct-to-consumer startups issuing statements about steps they will take to better support the black community, and build more diverse companies. But venture capitalists have remained largely quiet. “People are scared — even though they want to do the right thing, they’re worried that people are going to inevitably drag them down with, ‘well look at your website,'” said one consumer investor, referring to the fact that many venture capital firms employ white men by and large. “That has created this weird dynamic where even though people are very well meaning, they don’t want to put themselves in the spotlight. ” Venture capital is known for being insular. Firms sometimes don’t publish job openings at their firms, instead relying on recommendations from within their own network when looking for someone new to hire.

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