Amplitude Ventures Is Committed To Increasing Diversity In VC

Even though nearly half of U.S.-based venture capital firms report having a diversity, equity and inclusion (DEI) strategy, only one-quarter of VC investment professionals are women, and only a tiny fraction are BIPOC women. Amplitude Ventures, a VC firm that helps bring healthcare innovations to market, is committed to moving the needle on diverse representation in both its own leadership and at the companies it backs. In fact, in exclusive interviews with me, firm leaders expressed how vital they feel diversity is to success.

“I have been working in this sector for 30 years,” says Amplitude Venture Partner Nancy Harrison. “With diversity come different perspectives, experiences and backgrounds, which result in better ideas and decisions.”

Management teams should reflect the diversity of the societies where their businesses exist, contributes associate Juliana Muñoz. “VC has historically suffered from underrepresentation at many levels, not just for women. Even though there has been some change in recent years, we are still far from reaching the levels of diversity that will truly bring change to VC and the biotech industry at large.”

Allison Gaw, a principal at Amplitude, agrees. “For many new startups and entrepreneurs, VCs are the ones with ‘experience.’ As such, we are looked to as role models,” she says. “That’s why diversity in VC is so important – to get as many voices in the room as possible, to be the role model for companies to do the same, and to show that there isn’t only one image that a leader looks like.”

“For too long, venture capitalists have been homogenous in their thinking,” adds investor Anish Kaushal. “We’re now seeing more women and people from all ethnicities in the VC industry, which will hopefully lead to better outcomes. This help us do our jobs better by bringing a range of experiences to the table, addressing unconscious biases amongst our team, and speaking with a broader range of entrepreneurs from various backgrounds.”

Investor Allyson Tighe emphasizes that many studies have shown how diversity of all kinds is essential for high functioning teams. “In venture capital particularly, teams are key to executing on the promise of any innovation we may see, and we believe diverse teams are stronger,” she says. “Decision-making, especially in an environment of uncertainty, requires multiple viewpoints to contribute to thoughtful conversations, healthy debate, and reducing group-think.”

All members of Amplitude Ventures encourage women and people from diverse racial and ethnic backgrounds to consider pursuing their life purpose in their careers. Gaw points out that careers are no longer life-long linear ladders, so you can take your time to figure out both what your life purpose is and what you want to do. “Take the time to explore different options, talk to different people about what they do, figure out how different interests can work together. And don’t be afraid to pivot,” she says.

“Experiment with a bunch of different ideas when you’re starting out,” advises Kaushal. “Even if you’re at the mid stages of your career, talk to people from various industries. Don’t be afraid to fail and don’t conform to what society wants from you. Follow your curiosities, wherever they may lead you. What you do on the weekends and in your spare time can be turned into a full-time career – just don’t expect it to be easy.”

Tighe concurs that experimentation is key. “Triangulate on what you feel most excited about that you also feel you can do well,” she says. “Know, as well, that this can change over time and there are multiple ways to build a fulfilling career.”

Muñoz feels that self-reflection is the best path to finding out what is best for you. “Focus on the things that you actually enjoy doing and ignore what other people or society thinks you should do,” she says. “Once you identify what you enjoy, it will be easier to find a career path that aligns with you.”

“Once you start working, do not get frustrated with investing in yourself and your future. Failure and learning are parts of life and a part of growing,” concludes Harrison.