Varied teams begin with varied VCs

Varied teams begin with varied VCs

Startups frequently proclaim their commitment to diversity but tend to be sluggish in establishing hiring practices that embody this value. For a growth-stage company, it is often easier to recruit from established Silicon Valley networks, yet if a founder aims for a varied team, that principle must be enacted from the very first hire. 

Leah Solivan, who founded Taskrabbit and is the founder and managing director of Precedent.VC, engaged in a conversation with Isabelle Johannessen on Build Mode about their approach to hiring while at the helm of Taskrabbit. As the company transitioned from being self-funded through Solivan’s personal credit to one of the leading platforms of the gig economy, the leadership team consciously pursued diverse talent for every position.

Diversity is not a mere coincidence. Solivan and their team embedded it into all facets of their recruitment and hiring practices. “If you initiate this from the outset, it simplifies the process because the culture developed, the team assembled, and the network established as a corporation are inherently more diverse, creating a self-sustaining system. Waiting until you’ve scaled and reached the end stage is too late,” stated Solivan.

Every startup has a talent network with the founder at its nucleus, which logically means the network will mirror the founder’s community. Thus, a more diversified tech sector largely starts with who invests in these founders. As an early-stage investor, Solivan has witnessed the financial dynamics from both ends of the spectrum. 

“Tracing the money through the ecosystem reveals it originates from limited partners, who determine the recipients of funding—venture capitalists. Subsequently, the venture capitalists select the founders they choose to invest in,“ explained Solivan. “While the funds are available, they are managed by individuals with varying biases.”

Nonetheless, neither a founder nor their venture capital backers need to be underrepresented to deliberately hire from a diverse talent pool. Solivan advocates for aiming to review two female candidates’ résumés for every male résumé, broadening the range of networks tapped into, and promoting individuals from diverse backgrounds into leadership positions.

“You’re inviting someone to leap off a cliff — let’s create a safety net for them to land in,” remarked Solivan.

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