The color of money is rarely discussed in Silicon Valley. Which is why, when a CNN program recently brought it up, it unleashed an intense outpouring in the technology blogosphere. Cleverly, it also generated a flurry of free publicity for a provocative CNN documentary on African-Americans in technology, weeks before it aired. This week, the industry association representing venture capitalists released what it called the census of its members. Of 600 professionals surveyed, from general partners to marketers, 87 percent identified themselves as white, 9 percent were Asian, 2 percent black or Latino, with the remaining 2 percent calling themselves “mixed race.” The numbers were roughly the same as the last survey, in 2008, when 88 percent of respondents were white. Stark too is the gender imbalance.
According to the report, released by the National Venture Capital Association, four out of five professionals today are men. Of actual investors, women represent 11 percent, a lower figure than three years ago. The survey collected gender statistics only on those who were investors. In the administrative jobs, including marketing and communications, nearly two-thirds were women. Venture capital is a small and exclusive industry, with few entry points. An Internet entrepreneur who sells his or her company can join the ranks. A few come in with business school degrees in hand. “It’s largely an apprenticeship model,” Emily Mendell, the spokeswoman for the association. “Firms are very small. There are not these huge training programs so people can enter through the ranks.” (11/22)
