https://techcrunch.com/2020/06/10/potential-down-market-could-temper-vcs-promise-of-more-diversity/

Venture hiring by definition is exclusive. Legally, investors have to be able to fork out their own capital, ranging from hundreds of thousands to multi-millions, to join as a partner of a fund, meaning to be a senior partner typically requires some personal wealth. The industry is exceedingly gender imbalanced, with data showing that 84.6% of senior investors are male. The vast majority of VCs, too, come from very similar — and privileged — educational backgrounds from institutions like Harvard or Stanford. And they happen to be white.

There has been progress in recent years, with more women joining venture firms as well as starting their own shops. In February, the advocacy group All Raise released data showing that U.S. firms added 52 female partners or general partners in 2019, compared to 38 roles the year before. People of color have incrementally made progress too, which many say is not enough. Only 2% of VC partners are Black, per Richard Kerby, a partner at Equal Ventures,