Bethnal Green Ventures sets new VC benchmarks with extensive portfolio data
Bethnal Green Ventures – Europe’s leading early-stage tech for good VC, is the first VC in Europe to openly share extensive diversity and inclusion data from their portfolio and the first VC globally to share their portfolio’s risks of unintended consequences. Their recently launched Impact and Learning Report 2020 revealed the findings of these surveys.
As part of their ongoing commitment to founder diversity, BGV recently carried out an extensive diversity and inclusion survey of their portfolio founders. This survey supplemented basic diversity information, such as age, gender, and ethnicity, with additional factors that hold many founders back from establishing and growing new businesses, such as socio-economic background, sexual orientation and disability. BGV also benchmarked their founder diversity results against relevant population or industry datasets, which can be seen in full in the report.
Some key highlights include:
- 41.5% of respondents identify as women
- 15.9% of respondents identify as LGBTQIA
- 88% of respondents identify as at least one under-represented group with regards to VC investment such as: first generation university/college student, immigrant, first-generation citizen, caring responsibilities, low income household, first time founder.
As a global VC first, BGV has also mapped and shared information about their portfolio’s risks of unintended consequences – defined as unforeseen negative effects of a business’s products or services. The results of this survey show that: 78% of their portfolio actively assess potential unintended consequences, of those that have identified risks, 77% have reported ways in which they are mitigating them. The most commonly reported risks were: unexpected impact risk – e.g increased screen time, and stakeholder participation risk – e.g trigger of negative emotions while using a mental health app.
BGV has a history of ‘firsts’ in the VC sector, as the first UK VC to become a B Corporation in 2015 and one of the first to share diversity and inclusion data on their own team in their previous year’s Impact and Learning report.