Culture 3 mins read

All Raise VC Group Wants to Improve Startup Diversity

If you are involved in a startup -- particularly a tech startup -- you might notice a higher ratio of men to women. Companies, including giants like Google, are working to change this and now they're getting help from a venture capitalist firm known as All Raise.

All raise is one of the many startups aiming at making a difference in the world of business. | Image via allraise.org

All raise is one of the many startups aiming at making a difference in the world of business. | Image via allraise.org

All Raise is a VC group that is not waiting around for change, they’re ready to make true business equality a reality.

We cover many topics here on Edgy Labs from VR, hardware, and software to envirotech, 3D printing, and how Industry 4.0 and automation will affect society.

But, being a startup ourselves, we pay special attention to new startups and funders. As such, when news pops up around the startup universe, we tend to take notice.

Despite their recent walkout over the company’s treatment of women, Google, like many other high ranking tech companies, has made efforts to increase diversity in their ranks.

But thanks to the VC Group All Raise, startups might not have to try as hard to do so.

Aileen Lee and company from All Raise | Forbes via YouTube

All Raise — the Nonprofit for Startup Inclusivity

All Raise stands behind two more prominent groups you might have already heard of. Both Founders for Change and Female Founder Office Hours comes from this core nonprofit organization.

Back in March of this year, a group of top female CEOs and investors rallied behind a core goal. They wanted to get more funding for female founders by connecting them with female investors.

Their numbers showed that female startup founders get only 15% of venture funding.

In order to improve this number, the three groups formed a plan to help women in startups get funding. This included one on one mentoring, strategizing, and paying it forward.

Aileen Lee, All Raise co-founder, wrote a Medium post about the overall mission of the group. It recounts how the nonprofit came to be, key initiatives, and how male allies can help create a more inclusive and diverse startup environment.

“We believe that by improving the success of women in the venture-backed tech ecosystem, we can build a more accessible community that reflects the diversity of the world around us.”

Given the fact that only 9% of VCs are women, that’s a bit of an uphill battle.

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These ladies might not all be single, but they have clear ambitions. | Beyonce via Fanpop

Achievable Goals and Tools to Make Them Happen

The group’s goals regarding positives changes are impressive, however.

In five years, All Raise hopes to increase the number of female founders receiving venture funding from 15% to 25%. They also want to double the percentage of females in VC partner roles over the forthcoming 10 years.

With the help of a more diverse candidate database, startups can more easily tap into invaluable talent they might not otherwise find.

This also makes it easier for female founders to find female investors. According to a joint survey by Fast Company and Inc., 38% of female founders specifically seek out female investors.

In fact, their database features more than 400 venture and angel investors. You can search across three core categories: LGBTQ, women, and underrepresented people of color.

Now all startups have to worry about is an AI predicted their success or failure.

How else can startups aim to improve inclusivity and diversity?

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Juliet Childers

Content Specialist and EDGY OG with a (mostly) healthy obsession with video games. She covers Industry buzz including VR/AR, content marketing, cybersecurity, AI, and many more.

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