MPs slam lack of diversity in venture capital sector
MPs have slammed the lack of diversity in the venture capital industry, demanding that the government take greater action to improve representation in the sector.
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MPs have slammed the lack of diversity in the venture capital industry, demanding that the government take greater action to improve representation in the sector.
The Treasury Committee is challenging the lack of diversity in the venture capital industry as only 2 per cent of funding goes toward female founded and ethnic minority businesses, according to new report.
The Treasury Committee has criticised the venture capital industry’s “unacceptable failure” to invest in firms outside of London and the South East or in a business led by women and ethnic minorities.
The Treasury Committee has called for HM Treasury to set out clear plans on the extension of tax reliefs for EIS and VCTs.
Diversity in venture capital needs improvement with less than two per cent of funding going to black and ethnic minority-led businesses