Blog

Committing to Included VC

Posted on 30 June 2020

Today, we are thrilled to join the consortium of VCs — including Creandum, Daphni, Enern, K Fund, Mangrove Capital, Notion Capital, Seedcamp, Santander Innoventures, and WSGR — supporting Included VC, a global initiative working to realize greater diversity in the venture capital ecosystem.

Included VC is on a mission to change the face of the VC industry, maximizing fund success by transforming networks, staff, dealflow, and investments.Over the past several weeks, I’ve connected with Notion’s Chief Platform Officer Stephen Millard, a co-founder of Included VC, to learn more about the fellowship. The passion that he and co-founder Nikita Thakrar have for building a more inclusive VC ecosystem is inspiring and critical as the issue of VC homogeneity remains entrenched. For example, Quartz reported that over 80% of venture capitalists in the US are men, and 70% are white. A study by RateMyInvestor and Diversity VC demonstrated the downstream selection bias effects of this representation as well: VCs give most of their money to white men. A habit of pattern matching guarantees only one thing: a slower pace of innovation with fewer perspectives considered.

“Included VC is on a mission to change the face of the VC industry.”

Last year:

Last year, Included VC managed its inaugural 12-month fellowship comprised of master classes, mentoring, foundational learning, executive coaching, and simulated investment committees for 30 fellows, which was fully funded. The cohort representation statistics were incredibly encouraging: 60% identified racially as non-white, 60% identified as female, 10% identified as neurodiverse; 9 countries, 14 cities, and 17 nationalities were represented. The success of the first fellowship and the growing list of VC supporters are hopeful indicators of a commitment to change.

This year:

This year, with increased support, the fellowship program will host 40 fellows globally, chosen through a blind selection process. Included VC fellows share a passion for entrepreneurship, technology, and creating significant impact through venture investing. For a deep-dive on the fellowship specifics and program requirements, visit www.included.vc. Applications for the 2020–2021 fellowship are open now. We welcome you to apply or share with others in your network and community who may have interest.

“The success of the first fellowship and the growing list of VC supporters are hopeful indicators of a commitment to change.”

Next year:

Next year, at the close of the fellowship, M12 will bring on a paid intern from this second Included VC cohort.

My teammates and I are looking forward to sharing our experience and knowledge of the industry through mentoring and coaching sessions, just as we hope to learn about our own blindspots.

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