Our Commitment to a Diverse Workplace & Ecosystem
Greenspring believes that the diversity of our team is critical to our success and the investment outcomes we deliver for our clients. We take active steps to foster a culture that values inclusion and mutual respect. We have formalized both an Equal Employment Opportunity (EEO) and Diversity Policy and a Harassment Policy. Greenspring takes pride in the fact that we are a diverse-led investment firm, and that women and ethnically diverse individuals represent a significant portion of our team.
Women and/or Ethnically Diverse Employees at Greenspring Associates
of our hires have been diverse
of our hires have been women
of the women are in operational roles
Strategic initiatives in place to increase access to diverse talent
Adoption of Rooney Rule/White House pledge
Rule in which one diverse candidate must be interviewed for each open position
Signed partnership with Girls Who Invest
Dedicated to increasing the number of women in portfolio management and executive leadership in the asset management industry
Unconscious bias training
Senior executive training; referring to the information and attitudes that affect the way we process information subconsciously
Greenspring LP Office Hours Program
Educational program for women and minority-led VC firms providing advice on key LP-centric topics
Job posting at historically black colleges
Institutions such as Howard University, Morgan State University and Morehouse College
Our hiring process further represents our commitment to creating a diverse workplace with practices that foster inclusion across full-time opportunities and within our internship program. We partner with organizations such as Girls Who Invest, a non-for-profit organization focused on increasing the number of women pursuing careers in the investment industry, and the Cristo Rey School, a nation-wide private educational institution focused on preparing underprivileged youth for college and productive professional careers, to sponsor interns within our office each year. We also partner with Viqtory to help provide veterans from the military community with compelling career opportunities, and we actively work with a number of historically black colleges and universities to create awareness of full-time and internship job opportunities.
Transforming the asset management industry by bringing more women into portfolio management and leadership
Girls Who Invest Goal: 30% of the world’s investable capital managed by women by 2030 (700 students have participated in the program since 2016.)
Girls Who Invest program interns since 2016
Girls Who Invest program interns hired since 2016
Empowering Baltimore youth to succeed in college, career, and life. Cristo Rey provides access and opportunity for students of religious, racial, and ethnic diversity through various initiatives, including a Corporate Internship Program that fosters the development of business skills, interests and real-world experience.
Interns through Cristo Rey
DIVERSE MANAGER INVESTING
A component of Greenspring Associates’ fund investment strategy is sourcing diverse and next generation managers. Given the strong network effects present in venture capital, we believe it is vital to find mechanisms to allocate capital to high potential venture capitalists and entrepreneurs who bring new and diverse perspectives to the innovation economy. Their ideas and networks have great potential to significantly shape future innovation and economic growth. As such, Greenspring Associates has formally incorporated the consideration of these categories into our investment process more generally.
The Investment Case for Diversity
Backing diverse general partners leads to financing of diverse entrepreneurs, ultimately resulting in improved outcomes
Invest in VC funds with key diverse persons
GPs more likely to invest in diverse entrepreneurs
Diverse teams on average lead to better outcomes
Women are twice as likely to invest in companies with female founders and three times as likely in companies with female CEOs.*
Companies in the top quartile for racial/ethnic diversity were 35% more likely to have financial returns above their national industry median.**
Other Diversity Initiatives
Greenspring Associates is also committed to the empowerment of talented individuals in the innovation economy more broadly, regardless of gender, ethnicity or background. Greenspring Associates believes that a more diverse ecosystem will lead to better company-level decision-making, more investment opportunities and, ultimately, better outcomes for all involved.
We are proud members of the National Venture Capital Association (NVCA) and signed the NVCA and Venture Forward #VCHumanCapital Pledge to participate in the 2020 VC Human Capital Survey—powered by NVCA, Venture Forward and Deloitte—by submitting our firm’s workforce demographics and talent management details. The survey is a critical component for tracking, measuring and reporting the industry’s data and progress, and we commit to doing our part to further this industry-wide, data-driven effort to drive meaningful change. In addition, Greenspring Associates’ co-founder, Ashton Newhall, co-chaired the NVCA’s Diversity Task Force at the time of its formation in 2014 alongside Kate Mitchell of Scale Ventures to develop a clear and measurable path to increase opportunities for women and men of diverse backgrounds to thrive in venture capital and entrepreneurship. We also actively contribute to the Limited Partner Office Hours Program, which we launched in partnership with the NVCA in 2018 to help educate diverse venture capital fund managers on key topics critical to the success of their firms, such as relationship management, fundraising and other relevant guidance, from our perspective as a meaningful fund and direct investor.
Through our dedicated Portfolio Impact Program, Greenspring Associates also hosts Female Founders Forums, the most recent of which took place in January 2019, leveraging our Corporate Network to advance diversity and give female founders at portfolio companies backed by Greenspring or our underlying managers an audience with executives representing potential customers, partners or acquirers.
We are also members of the open-source #MovingForward directory and have pledged our commitment to fostering a diverse, inclusive and harassment-free workplace alongside other VCs supporting this movement.