During White House Demo Day, Obama will announce that leading venture capital firms in the U.S. have pledged to promote diversity.
The most prominent venture capital firms in the tech industry have committed to promoting diversity in the VC space and funding more startups led by women and minorities. President Obama will make the news public during the inaugural White House Demo Day 2015.
The National Venture Capital Association (NVCA), an umbrella trade group, issued a group letter today pledging to revise HR policies in their firms, issue best practices for diversity hiring, and contribute to programs encouraging women and underrepresented minorities to be entrepreneurs.
Andreessen Horowitz, Kleiner Perkins Caufield Byers, and 43 other VC firms have signed the agreement. Kleiner Perkins recently won a high-profile gender discrimination case filed by ex-Reddit CEO Ellen Pao that pushed gender issues in venture capital into the spotlight.
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