143. Fixing Venture Capital’s Diversity Problem.
Nikita Thakrar
December 10, 2020
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Generally speaking, people are more comfortable dealing with people that they feel an affinity for. In practical terms this means that people employ other people who look like them, have a similar education to them and share similar life experiences as them. It’s that unconscious feeling that many people are referring to – when they talk about an interviewee “fitting” the company culture. Venture Capital is no exception to this phenomenon. In fact, it has a bit of a homogeneity problem. In 2018, 82% of VCs in the US were men, 70% were white and 40% attended either Harvard or Stanford. That’s right, 40% hail from just two schools.
The effect of this significant bias is that the people funded by VCs also tend to look a lot like the VCs who invest in them.
Nikita Thakrar, the Co-founder & Director of Included VC, is working to change that. Included VC is a unique ‘Venture Capital MBA’ for individuals from diverse communities, providing access, opportunity and knowledge into the world of Venture Capital. They have set out to change this vicious cycle by changing who is included in the ranks of the VC population.
Topics include:
How the “as is” VC career path is a bit of a closed loop and what this means for businesses looking for investment.
How an idea, born on the back of a napkin, may just change the face of venture capital.
How blind applications work and why they are such an important part of the process.
What the component parts of the program are and how they help to level the playing field for participants.
How other industries can apply Included VCs approach to creating a more diverse and inclusive workforce.
Nikita Thakrar is the Co-founder & Director of Included VC, the first-of-its kind global VC Fellowship. Included VC is a unique ‘Venture Capital MBA’ is for individuals from diverse communities that are often overlooked or excluded, providing access, opportunity and knowledge into the world of Venture Capital.
Previously she was part of Europe’s leading science & technology university; Imperial College London’s entrepreneurship team heading up deep science ventures with a focus on novel technology. She was supporting entrepreneurs in building innovative, sustainable & Tech for Good businesses (water, new materials, robotics, energy, MedTech), collectively accelerating over 2000 people. Moreover, she has also overseen the leadership of the Women in STEM program.
Nikita has worked in the start-up sphere for a decade and brings a wealth of deep science and innovation experience across various industries, with the unique ability to blend entrepreneurship within start-ups, corporates and education. Nikita has previously been a Fellow of Global Startup Generation in addition to the New Entrepreneurs.
Included VC is a fellowship for individuals from diverse communities which are often overlooked or excluded, providing access, opportunity and knowledge into the world of Venture Capital. This fully-funded 12 month fellowship comprises: masterclasses, mentoring, foundational learning, executive coaching, simulation investment committees and in-person retreats.
Included VC Fellows all share a passion for entrepreneurialism, technology, and creating significant impact through venture investing. They share our belief that entrepreneurs and the VCs that invest in them can come from anywhere: any gender, ethnicity, geography, upbringing, age, neurodiversity, disability or belief system.
The Included VC mission is to change the face of the VC industry, dramatically increasing diversity and maximizing fund success by transforming networks, staff, dealflow and investments. We are committed to creating effective multi-generational change.
Included VC is supported by an international consortium of Venture Capital Partners and Sponsors including: Creandum, Daphni, Enern, K Fund, Mangrove Capital , M12 – Microsoft’s Venture Fund, Notion Capital, Seedcamp, Santander Innoventures, Wilson Sonsini Goodrich & Rosati.
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