Venky Ganesan, Menlo Ventures: "The industry has only hurt itself by not doing a better job recruiting and promoting women"

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Venky Ganesan, managing director at Menlo Ventures and chairman of the National Venture Capital Association, talked about the “bro culture” of Silicon Valley: "The industry has only hurt itself by not doing a better job recruiting and promoting women, missing out on opportunities, especially in consumer products, that a different perspective might have appreciated".

Ganesan shared his own experience passing on the chance to back Pinterest early in its life: “I didn’t understand how a very big part of our economy works,” he said. “We’ve got to fix it,” said Ganesan of the industry’s lack of women partners. “And we will fix it. It just takes time.”

He also noted that research varies on how many women GPs there are, but regardless of the exact percentage, “it is terrible and not acceptable. Not in 2016.”

Well, we know for sure that there are 283 women venture investor who actually make investments decisions in the U.S. today. And counting.