Polaris Partners Joins Venture Capital Industry Leaders In Commitment To Fostering Inclusion And Improving Diversity Within The Entrepreneurial Ecosystem

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Efforts to be Recognized by President Obama at the First White House Demo Day

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If you aren’t part of the solution, you are most definitely part of the problem. Working together, united around a single goal to better foster inclusion and improve diversity at our firms and companies, is a powerful commitment indeed.

Polaris Partners today joins leading venture capital firms across the country who are committing their partnerships to advancing opportunities for women and underrepresented minorities in the entrepreneurial ecosystem. The firm, which has been actively involved in the National Venture Capital Association’s (NVCA) Diversity Task Force, signed a letter to President Obama, pledging support for numerous industry initiatives as well as Polaris-specific efforts that contribute to more inclusive environments within VC firms and at venture-backed companies. The letter will be delivered and recognized by the President this afternoon at the first White House Demo Day which brings together entrepreneurs from all walks of life, from all across the country, and celebrates their individual journeys.

Terry McGuire, founding partner of Polaris, past chairman of the NVCA and member of the Diversity Task Force, will join the delegation representing the VC industry at the White House. He expressed the importance of the effort to the future of venture capital and the startup ecosystem:

“We are honored to be part of this effort which, from a venture industry perspective, is paramount to our success as company builders and innovators going forward,” said McGuire. “If you aren’t part of the solution, you are most definitely part of the problem. Working together, united around a single goal to better foster inclusion and improve diversity at our firms and companies, is a powerful commitment indeed. We look forward to contributing in a meaningful way to this critical process.”

As part of the pledge, Polaris committed to the collective effort of diversity measurement, adoption of firm policies that foster respect and dignity for all, and engagement in initiatives that encourage women and minorities to explore careers in venture capital. The firm will also proactively sponsor and recruit diverse candidates for executive positions at their companies, on boards and organizations, and at the firm, with an ultimate goal of 50 percent diversification throughout the Polaris ecosystem.

Forty-two venture firms with more than $100 billion in assets and invested in nearly 7,000 companies across the country signed the NVCA Diversity Task Force letter demonstrating their commitment. For more information about the White House Demo Day and the NVCA Diversity Task Force commitment, please visit: http://www.nvca.org.

About Polaris Partners
Polaris Partners invests in exceptional technology and healthcare companies across all stages of their life cycles. With offices in Boston, San Francisco, and Dublin, we partner globally with an unparalleled network of repeat entrepreneurs, top scientists and emerging innovators who are making significant contributions in their fields and vastly improving the way in which we live and work. http://www.polarispartners.com

About the NVCA Diversity Task Force
As the voice of the venture capital industry, NVCA is committed to expanding opportunities for women and men of diverse backgrounds to thrive as venture capital investors and entrepreneurs. In 2014, current and former board members launched the NVCA Diversity Task Force to develop meaningful research and solutions to support diverse groups of venture capitalists and entrepreneurs in order to build a stronger innovation ecosystem.

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Emily Mendell
@PolarisVC
since: 09/2010
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