We're Advocates for Diversity

At Planoven, we look for companies that encourage women and minorities at all levels of management. Conversely, we view with concern companies that have a record of diversity-related controversies and regulatory sanctions, including those related to sexual harassment and discrimination.

Diversity in the workforce

Whether related to gender, ethnicity or race, age, sexual orientation, disability, economic or class background, religion, and political opinion, is often a leading indicator of a well-managed project. Projects led by diverse management teams are:

1 better at mitigating risk;
2 33% more likely to have industry-leading profitability; ¹
3 more likely to innovate thanks to a multiplicity of ideas and perspectives;
4 27% more likely to have superior value creation;
5 more likely to understand customer needs, emerging issues, and anticipate societal trends;
6 more likely to cultivate and foster understanding, mutual respect, and cooperation within their workforce;
7 more likely to cultivate connections within their communities;
8 more likely to deter discriminatory practices and foster a culture of tolerance and inclusiveness throughout their organizations — thereby creating a positive, sustainable culture;
9 better positioned to recruit and retain from the widest possible pool of talent;
10 21% better at overall corporate performance; and,
11 easier able to leverage a wider range of perspectives to better compete in a global economy.

US Venture capital

2.2%

goes to women-led teams - a decline from 2.7% in 2017; ²

1%

goes to Black and Latinx founders;

0.32%

goes to Latinx women founders,

0.0006%

goes to Black women founders.

Across venture capital and private equity more broadly, of the $69 trillion of global financial assets under management, less than 1.3% is managed by women and people of color.

We think this is appalling!

Higher levels of diversity likely would significantly improve economic development and GDP growth around the world. Women and minorities continue to be underrepresented at all levels of management. Women also receive lower wages, leading to significant wealth gaps over the course of their careers. In the U.S., women in professional and management positions earn ~$0.73 for every dollar a man makes. Women of color experience an even larger gap. Efforts to close these gaps have made only halting progress, both in the US and around the world. The lackluster improvement in workplace diversity and equality has been stark in light of ongoing revelations regarding the scale of workplace sexual assault and harassment.

Planoven favors diversity across all industries as an indicator of company culture and commitment to a just and equitable workplace. We consider diversity to be a Key Performance Indicator (KPI) that demonstrates the quality of management. We also believe providers of capital can play a substantial part in pushing the pace of change — helping more and more people experience financial well-being.