Whereas giant companies like Google and Meta curbing their DEI applications, Ulu Ventures, which simply raised a fourth $208 million fund, doesn’t plan to alter its technique of investing in various founders, the agency instructed the Wall Avenue Journal.
Co-founded by Miriam Riviera, a Latina and former vp and deputy normal counsel at Google, Ulu makes use of a data-driven funding method to filter out biases.
The 17-year-old agency investing in seed startups is aware that persevering with variety efforts could elevate dangers underneath the brand new administration. “If you’re going to be standing sturdy on DEI at the moment, you need 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 method to variety. The agency’s fourth fund is 50% bigger than its third $138 million fund raised in 2021.
