The nationwide protests in response to the killing of George Floyd led to a flurry of discussions and self-reflection in the overwhelming white male world of venture capital about what needs to change to make the industry more diverse. While many VCs were quick (or not so quick) to take to social media to say they support diversity or attend webinars on inclusivity, meaningful concrete action has been less common.
"The venture field has been probably the slowest to let minorities and women in," said Sue Toigo, co-founder of the Toigo Foundation, which helps underrepresented minorities get careers in finance. "It has the worst record of all asset classes."
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AllVoices, an anti-harassment app inspired by the #MeToo movement, has raised $4.1 million, according to Securities and Exchange Commission filings posted last month.
Begun by former film studio executive Claire Schmidt less than two months after the Harvey Weinstein story roiled Hollywood and forever changed the conversation around sexual harassment in corporate offices, the app allows users to anonymously report information to a company's top leadership.