Few women are in decision-making positions when it comes to investment, according to a report from the National Venture Capital Association and Deloitte.
Women represent merely 11 percent of investment partners or equivalent on venture investment teams.
The survey also reveals racial minorities are underrepresented in venture capital positions, with only 22 percent of the venture capital workforce. Black employees are at 3 percent while Hispanic or Latino employees are at 2
By race, the report found that non-white employees comprise 22 percent of the venture capital workforce.
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The survey reveals, women are consistently overrepresented in administrative functions and underrepresented in investment functions. Women comprise 95 percent of administrative roles, 75 percent of investor relations, communications or marketing roles, yet only 15 percent of investment professional roles. Looking specifically at investment partners or equivalent on investment teams, women comprise 11 percent.
The NVCA-Deloitte Human Capital Survey also gauges the adoption of talent management practices and diversity and inclusion programs at venture firms, as well as the extent to which those programs lead to more diverse teams.
"The survey results reinforce what we already know, which is that the venture industry is not representative of the overall population of the U.S. Transparency is a powerful force for change, and we now have a clear benchmark by which we can measure progress to create a more inclusive venture capital industry," said Bobby Franklin, president and CEO of NVCA.
Franklin noted that research shows diverse teams make better decisions.
Also critical, he said, is the presence of a human capital strategy, as well as talent programs, such as recruitment or mentorship, drives greater diversity on VC teams. This data will help guide the future programs of NVCA.