VC Pledged to 'Do Better' on Diversity. It's Barely Changed

The Black Lives Matter protests drew sympathetic public statements from investors in 2020. One year later, signs of progress are harder to find.

It’s no secret that the venture capital industry, for as long as it’s existed, has been overwhelmingly white. Last summer, as the murder of George Floyd focused national attention on racial inequalities in the US, firms seemed committed to changing that. “Black Lives Matter,” the firm Benchmark tweeted last May. “Change starts with each of us holding ourselves accountable and taking actions towards a better, more just world,” tweeted Sequoia. A few firms came out with concrete pledges, or funds earmarked for entrepreneurs of color: Andreesen Horowitz

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