The Diversity Data Alliance - Launch
Join us for the official launch of the Diversity Data Alliance on May 15th in San Francisco!
As Venture Capitalists, we acknowledge our pivotal role in fostering innovation, recognizing that our strength lies in embracing diverse perspectives and unconventional visions of the future. However, historically, we’ve overlooked this crucial element within our own ranks, resulting in an imbalance in opportunity scales and hindering economic growth.
The Venture Capital and entrepreneurship communities remain fairly homogenous, with limited representation of historically marginalized persons with regards to race/ethnicity, gender identity, sexual orientation, educational attainment, religious and military affiliation, and more. We know this because, for several years, various organizations in the venture capital and entrepreneurship ecosystems have collected data and published reports highlighting the continuing inequity of capital allocation and access to resources within the industry.
With the recent passage of SB-54 in California, and with similar bills being drafted in New York and Massachusetts, tracking and reporting of diversity data is about to become a requirement for funds and founders. In CA, data collection and reporting begins in less than a year, but many VCs are not clear on what the law’s requirements will be, or how and what information to collect.
The Diversity Data Alliance is a coalition of organizations working across the VC and startup ecosystems to build the largest, most comprehensive, and most intersectional data set on diversity in VC and startups. Originally conceived by seven non-profit organizations in early 2023, the group has developed a standard methodology for diversity data collection built with human-centered design and inclusivity from the start. The DDA is in the process of building a platform to facilitate clear and easy data collection and reporting for VCs and the founders they invest in.
We spent most of 2023 defining and standardizing how we collect demographic data, using our unique expertise to create a common framework. We're now ready to share that framework with the world - as well as the next steps for the Alliance and DEI in VC and startups.
The first of these: supporting Senate Bill 54, passed in late 2023 in California, to ensure a detailed and inclusive collection process for diversity data.
At the launch event on May 15, the Alliance will gather VCs and policymakers together for a discussion on SB-54’s implications and implementation. If you’re curious how SB-54 might impact your fund or your company, this is the perfect opportunity to hear directly from the writers - and to give direct feedback. We hope you’ll join us!
Diversity Data Alliance Founding Members:
2Gether-International
AllRaise
BLCK VC
Diversity VC
Somos VC
StartOut
Vets in Tech
Panelists:
Jen Barnette
Special Counsel
Cooley
Jen Barnette is a startup and venture capital lawyer with a deep grounding in impact and sustainability. She is a trusted adviser to high-growth emerging companies and VC funds across a wide range of industries, including climate tech, responsible artificial intelligence (AI), digital health, education technology and consumer goods. Jen is also a leader in Cooley’s ESG and sustainability advisory practice, where she provides practical and strategic guidance on environmental, social and governance (ESG) matters, including climate and sustainability reporting, diversity, equity and inclusion (DEI) matters, transaction diligence, corporate governance and regulatory compliance matters. She is sought out for her knowledge regarding Delaware public benefit corporations (PBCs) and frequently advises on corporate structures to scale impact and financial returns. She is a member of Cooley’s firmwide DEI and Sustainability Working Groups and Cooley’s San Francisco pro bono committee.
Marquesa Finch
Co-Author of SB 54
CEO, Pyrium
Founding Partner, F5 Collective
Marquesa is an entrepreneur and investor focused on alternative finance and equitable access to venture capital and entrepreneurship. She is Founder and CEO of Pyrium, a marketplace where anyone, regardless of accreditation, can angel invest into stellar companies. Pyrium’s mission is to create greater access to generational wealth for communities who have historically been excluded from investing opportunities.
Marquesa is also Founding Partner at the F5 Collective, a fund supporting female founders in Australia and the greater APAC region. In 2023, she co-authored and sponsored California State Senate Bill SB 54 which will require all venture capital funds domiciled in California, who do business in California, or who receive California public funds to report the diversity statistics of the founders in their portfolio companies to the state. SB 54 was signed into law by California Governor Gavin Newson in October 2023.
Marquesa studied Art History and Biology at the University of California, Santa Barbara and holds a Master of Public Health from the George Washington University Milken Institute School of Public Health.
Shu Dar Yao (Moderator)
Managing Partner
Lucid Capitalism
Shu Dar Yao is a responsible investing advisor who teaches financiers about social and climate inequality. She supports venture capital, private equity, and wealth managers that seek market-rate returns, and her scope of work has included designing responsible investing policies and reports, fund structuring, supporting investor relations teams to respond to LP inquiries, and preparing companies for public listing.