While massive companies like Google and Meta are curbing their DEI packages, Ulu Ventures, which simply raised a fourth fund at $208 million, doesn’t plan to vary its technique of investing in numerous founders, the agency advised The Wall Street Journal.
Co-founded by Miriam Rivera, a Latina and former vp and deputy common counsel at Google, Ulu makes use of a data-driven funding method to filter out biases.
The 17-year-old agency, which invests in seed startups, is aware that persevering with range efforts might elevate dangers beneath the brand new administration. “If you’re going to be standing robust on DEI as we speak, you need to be extremely buttoned-up,” one of many agency’s companions advised WSJ, implying that investing primarily based on knowledge doesn’t imply the agency favors particular founder demographics.
Ulu’s restricted companions appear to be onboard with its method to range. The agency’s fourth fund is 50% bigger than its $138 million third fund raised in 2021.
