Meagan Loyst, the founder of Gen Z VCs, asked her social media followers the one thing they would change about venture capital. Here’s what they told him.

by MMC
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“I think it’s important to approach everything in a community-oriented way, rather than inserting my own opinions right off the bat,” Loyst said. “So I thought I’d do what I do best: leverage my platform to ask people what’s wrong.”

According to its survey, 45% of respondents said they would like the venture capital industry to be “more accessible” to newcomers. And 28% of those who responded said they wanted the industry to be “more transparent”, 18% wanted the industry to be “more open-minded”, while 9% said they would like that the industry is “better aligned” with their social values. , such as a focus on sustainability or mental health.

Loyst also noted that among responses wanting the venture capital industry to be more accessible, more than 60% of those responses directly called for more diversity on the investor side of the Board.

Loyst’s survey responses reflect the number of young investors and founders who now feel excluded from the venture capital industry, a situation that could potentially worsen during the venture capital downturn. Venture funds like the startup accelerator Y Combinator laid off members of their growth investing team, joining many venture-backed startups that have made the decision to downsize this year. Redwood too seven employees were laid off of its talent team over the summer, Forbes reported.

In times of market uncertainty, businesses may also tend to be reluctant to increase accessibility, which means focusing less on diversity initiatives.

Loyst is now enrolled in an MBA program at the University of Oxford and the aim of the survey was in part to help her generate data for her master’s thesis on helping young people create wealth through investment, she said. While these results don’t immediately point to clear solutions to these issues, Loyst offered some thoughts, including advocating for an asset class more open to newcomers.

“In the responses, there were calls for more female GPs, angel investors and diverse boards, for more female founders to be funded, and for more women, people of color, board members from the LGBTQIA+ community, are joining the VC space in general. ” she says. (The industry) will probably need systemic change. »

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