By: Gigaom
NVCA survey: VC industry still very white, mostly male
There's been a lot of media buzz in recent months about the lack of racial and gender diversity in the tech startup landscape. Now, new data from the National Venture Capital Association indicates that the VC field is similarly homogenous: It's very white and mostly male.

There’s been a lot of media buzz in recent months about the makeup of the tech landscape. Many industry observers say there’s a serious lack of racial, ethnic and gender diversity among startup founders and other tech executives — essentially, that it’s a field dominated by white men. Now, new data indicates the venture capital industry that funds many of those tech companies is similarly homogeneous.

VC field: White and male, especially at the top

The National Venture Capital Association (NVCA) and Dow Jones VentureSource on Monday released the results of the 2011 Venture Census survey, which polled nearly 600 individuals in the VC industry. Of the respondents, 87 percent were Caucasian, nine percent were Asian, two percent were African American or Latino, and two percent were of “mixed race.”

Although in a press release the NVCA said the survey indicates “increasing ethnic diversity” in the VC industry, the new figures are largely similar to the findings from the 2008 Venture Census survey, in which 88 percent were Caucasian, eight percent were Asian, two percent were Hispanic and one percent were African American.

In addition, the VC field is mostly male, especially at the higher ranks. Of the total survey respondents, 79 percent of were male and 21 percent were female, and in investment roles men outweigh women even more significantly. Of those who identified themselves as investors, 89 percent were male and 11 percent were female. (The Venture Census survey also polls people in administrative, operational, marketing and communication roles) If anything, the field seems to have lost women in the past few years: In 2008, 86 percent of VC investors were male and 14 percent were female.

A more diverse future?

The good news is that the future of the VC field may be slightly more diverse, as Caucasian males don’t seem to dominate the industry’s younger ranks quite as overwhelmingly. Of venture professionals who have been in the industry fewer than five years, 77 percent were Caucasian, 17 percent were Asian, three percent were African American or Latino and three percent were of mixed race. And females were much more prevalent in the field’s younger workers: Of survey respondents under 30 years old, 28 percent were women. Of those in their 30s, 27 percent were women; 40s and 50s, 22 percent; and over 60 years old, 13 percent.

Too busy to blog

Another interesting tidbit from the study is how often VCs use the social networking websites in which their industry has enthusiastically invested in recent years. 62 percent of VCs polled use Facebook and just 30 percent use Twitter. LinkedIn is the social network of choice for the VC set, with 85 percent of respondents indicating that they are users of the site.

It’s also somewhat surprising how much the majority of VCs seem to stay out of the blogosphere — both as readers and writers. Only 33 percent of survey respondents say they read blogs, and just 11 percent write them. To be fair, perhaps they’re just too busy to surf the web: 44 percent of survey respondents in investment roles said they work more than 60 hours per week.

Related research and analysis from GigaOM Pro:
Subscriber content. Sign up for a free trial.


Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here