Whereas giant firms like Google and Meta curbing their DEI packages, Ulu Ventures, which simply raised a fourth $208 million fund, doesn’t plan to vary its technique of investing in various founders, the agency instructed the Wall Avenue Journal.
Co-founded by Miriam Riviera, a Latina and former vice chairman and deputy common counsel at Google, Ulu makes use of a data-driven funding strategy to filter out biases.
The 17-year-old agency investing in seed startups is conscious that persevering with variety efforts might elevate dangers beneath the brand new administration. “If you’re going to be standing robust on DEI in the present day, it’s a must to be extremely buttoned-up,” one of many agency’s companions instructed WSJ, implying that investing based mostly on knowledge doesn’t imply the agency favors particular founder demographics.
Ulu’s restricted companions appear to be onboard with its strategy to variety. The agency’s fourth fund is 50% bigger than its third $138 million fund raised in 2021.