Today, we have committed to join Cheryl Yeoh Sew Hoy and Andy Coravos in their mission to launch a collective step forward for the VC industry. #MovingForward, which was birthed at a dinner for founders, is an open source directory that pools diversity, inclusion and anti-harassment commitments from VCs.
It is especially meaningful that this initiative launches on International Women’s Day – a day to celebrate the social, economic, cultural and political achievement of women. A recent report by the World Economic Forum found gender parity is over 200 years away. While these findings seem overwhelming, we believe that as more people commit to change now, we will move the needle together. We are honored to pledge our commitment to #MovingForward and are encouraged to join many notable investors in building diverse, inclusive and harassment-free cultures together.
500’s mission is to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. Diversity and inclusion have always been core values for us because, simply put, investing in and supporting diverse founders is smart business. Just this past year, close to 30% of our Seed Program companies were led by female founders, and more than 40% of our portfolio founders belong to racial minorities. Within the 500 team, 40% of the executive management team are women, more than 30% of our investment partners are women, and we aim to increase these numbers with every investment and every hire we make. We will continue to play an active role in creating a better, more empowered industry for women and underrepresented founders moving forward.
Thank you Cheryl, Andy and the #MovingForward team for working tirelessly to create a constructive solution to drive positive change in VC and helping the industry move forward.
Read more about 500’s policy here.