{"id":54052,"date":"2023-10-20T16:26:14","date_gmt":"2023-10-20T16:26:14","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/bros-funding-bros-why-vc-isnt-moving-with-the-times-startupsmart\/"},"modified":"2023-10-20T16:26:14","modified_gmt":"2023-10-20T16:26:14","slug":"bros-funding-bros-why-vc-isnt-moving-with-the-times-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/bros-funding-bros-why-vc-isnt-moving-with-the-times-startupsmart\/","title":{"rendered":"&#8220;Bros funding bros&#8221;: Why VC isn\u2019t moving with the times &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"443\" height=\"352\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2015\/10\/l_samegroups_445.jpg\" alt=\"\" title=\"l_samegroups_445\"\/><\/div>\n<p>New data compiled by <a href=\"https:\/\/www.theinformation.com\/future-list\" target=\"_blank\" rel=\"noopener\">The Information and Social Capital suggests<\/a> the tech industry in the United States is just <a href=\"https:\/\/www.theinformation.com\/bros-funding-bros-whats-wrong-with-venture-capital?shared=ae4cd7\" target=\"_blank\" rel=\"noopener\">\u201cbros funding bros\u201d.<\/a> <\/p>\n<p>\u00a0<\/p>\n<p>Over the course of three months, data was gathered on 552 senior investment professionals at 71 US-based Venture Capital firms.<\/p>\n<p>\u00a0<\/p>\n<p>The study found that less than 1% of those professionals were black, just 1.3% were Hispanic, and almost two thirds of firms didn\u2019t have a woman in a senior investment leadership role. Of the 552 senior investment professionals, 507 were males.<\/p>\n<p>\u00a0<\/p>\n<p>The top ranking firm was <a href=\"http:\/\/www.floodgate.com\/\" target=\"_blank\" rel=\"noopener\">Floodgate Ventures<\/a>, while Felicis Ventures, the lead investor in Australian startups <a href=\"growth\/graphic-design-startup-canva-now-has-an-extra-21-million-to-draw-upon\/2015100615655.html\">Canva<\/a> and <a href=\"growth\/its-all-in-the-culture-melbourne-based-startup-culture-amp-secures-8-million-in-series-a-funding\/2015030414275.html\">Culture Amp\u2019s<\/a> recent series A rounds, was ranked third.<\/p>\n<p>\u00a0<\/p>\n<p><a href=\"leadership\/how-your-startup-can-tackle-diversity-issues-in-2015\/2015010513884.html\"><b><i>From January<\/i><\/b><i>: How your startup can tackle diversity issues in 2015<\/i><\/a><\/p>\n<p>\u00a0<\/p>\n<p><a href=\"https:\/\/www.theinformation.com\/bros-funding-bros-whats-wrong-with-venture-capital?shared=ae4cd7\" target=\"_blank\" rel=\"noopener\">In an accompanying opinion piece<\/a>, Social Capital\u2019s Chamath Palihapitiya says the venture capital industry is living in the past and the lack of diversity is slowing down progress.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThe venture capital industry is stuck in yesteryear \u2013 the same people, living the same lives and having the same experiences making largely the same decisions,\u201d he writes.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThis sameness may have been a strength, but now it is creating blindspots. For every idea we fund, how many great ideas don\u2019t even get a sounding board because we can\u2019t relate to the problem or the entrepreneur?<\/p>\n<p> \u201cHow much better off would we be if we had a larger lens from which to examine a broader class of entrepreneurs and ideas? My suspicion is greatly.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThe bottom line is that the VC community is an increasingly predictable and lookalike bunch that just seems to follow each other around from one trivial idea to another. My conclusion is we need to improve decision-making or change the decision makers within our industry.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><i>Want to grow your business with Instagram? <\/i><i>StartupSmart School can help<\/i><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New data compiled by The Information and Social Capital suggests the tech industry in the United States is just \u201cbros<\/p>\n","protected":false},"author":2,"featured_media":58219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,9,28,24,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/54052"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=54052"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/54052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58219"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=54052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=54052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=54052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}