Breaking the mold! SpotOpp is proud to be featured as one of the 200 startups featured in the bid book: It’s time to #FundRight.
With #FundRight, a large group of motivated investors have come together to promote equal access to finance and opportunities for all founders, regardless of their background or gender.
#Fundright began in 2019 as a VC initiated movement aimed at ensuring a more diverse ecosystem, at both VC level and portfolio company level. #FundRight commits to submitting data to techleap.nl to track the progress in achieving their goal of a diverse ecosystem, including 35% women by 2023. Currently only 6% of partners at Dutch VC firms are women and only 16% of venture capital firms invest in teams with a female founder. On top of this, since 2008 only a mere 0,8% of all venture capital funds have been invested in female founded teams.
Setting a target will help keep diversity on top of the agenda and transform behaviours in the way VC firms source deals, hire talent and discuss diversity with their portfolio companies. They maintain a firm belief that these steps are necessary for the accelerated achievement of fair and equitable financing for a diverse group of entrepreneurs. Furthermore, their actions are aimed at contributing towards improved decision-making frameworks that positively influence innovation and financial outcomes. Ultimately, this will lead to a more inclusive society where businesses, products and services are made for everyone.
#Fundright believes in equal access to funding and opportunity for all founders, irrespective of their background or gender and commits to the following goals: Within 3 years of this statement (2019), all participating VC companies and the management teams of their current portfolio companies will have a diverse mix including 35% women. A considerable percentage of the companies (co-)invested in are (co-)founded by a woman.
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