Monday, May 13, 2019

Los Angeles VC's Launch Internship Effort In Diversity Bid, Deadline Friday

Los Angeles area venture capitalists have launched a new internship effort, in a bid to help diversify their ranks, according to PledgeLA, a coalition of local venture capital and technology companies. According to PledgeLA, which was created by the Annenberg Foundation, the Office of LA Mayor Eric Garcetti, and over 130 Los Angeles venture capitalist and technology executives, the new program is a result of a survey of local venture capital firms, which found that the just 34 percent of investors here are people of color, 81 percent of investors are male, 51 percent rarely or never volunteer with a nonprofit, and 45 percent do not have a company "give back" program. According to PledgeLA, the new, internship program begins this summer in Los Angeles, and is seeking undergrads and graduate students from any college or university who self-identify as Black, Latinx, Native American, women, first-generation college students, veterans, persons with disabilities, LGBTQIA, and/or other underrepresented minorities. The program will provide a paid, 10-week internship to a Los Angeles venture capital firm, including a two-week training to learn the fundamentals of investing and entrepreneurship. Deadline to apply for the internship is coming up rapidly, and is May 19th.