A new survey from Proud Ventures, a network of LGBTQ+ venture capitalists and angel investors, found that 75% of LGBTQ+ startup founders and 79% of investors conceal their sexual orientation or gender identity. Why? A number of startup founders reported facing discrimination as a result of their LGBTQ+ identity.
Proud Ventures, with the backing of Founders Factory and Investec Wealth, surveyed 118 founders and 61 investors based in the U.K. for the research. It is the first report of its kind in the U.K. startup community, according to Proud Ventures.
This is concerning results for advocates of diversity and inclusion in business enterprises. It clearly points out the need for greater LGBTQ+ representation on Corporate Boards, in this case those specific to venture and business finance. The culture of an organization is driven by the leadership at the top, and such discrimination would not be acceptable to any organization which reflects diversity and inclusion in their leadership.
Read the CNBC coverage of the Report HERE and access the full report and commentary HERE.