If you have never met, let along seen, a female venture capitalist, you are not alone.

If you have never met, let alone seen, a venture capitalist from a minority, you are not alone.

Despite all the calls in recent years for the tech industry to increase its diversity, a major player is lagging badly in representation by women and minorities: The venture capital industry. So says a new survey from the National Venture Capital Association.

NVCA, the go-to business group for VCs on matters of policy, collaborated with consulting firm Deloitte for a “Human Capital” survey, and the results, while troubling, are not surprising for people familiar with the VC industry, from entrepreneurs to investors.

The survey found:

  • Women make up 11 percent of “investment partners or equivalent on venture investment teams”
  • Black team members comprise 2 percent of investment professionals
  • No venture firms in the survey disclosed having a black venture partner
  • Women do make up 45 percent of the VC work force. And minorities represent 22 percent of that group (Blacks at 3 percent, Hispanic at 4 percent, other minorities at 15 percent).

“Looking specifically at investment partners or equivalent, survey results found no Black investment partners in the sample,” the NVCA says. “However, it is important to note that while the firms in our sample did not report any Black partners, this does not equate to a zero number of Black investment partners working across the industry.”

As part of the survey and review, the NVCA called for venture capital firms to step up “talent management” as well as diversity and inclusion programs.

“The survey results reinforce what we already know, which is that the venture industry is not representative of the overall population of the U.S. Transparency is a powerful force for change, and we now have a clear benchmark by which we can measure progress to create a more inclusive venture capital industry,” said Bobby Franklin, the NVCA’s chief executive officer. “For the first time, we have a comprehensive picture of the industry as well as a better understanding of existing programs to support diverse teams. Research shows that diverse teams make better decisions and, with this baseline measurement in hand, we now turn to developing the tools and resources that will empower all venture firms to take action,” Franklin said.

The NVCA hopes that the survey data will encourage efforts to diversify its work force and thus “improve business performance,” according to Deloitte National Managing Partner James Atwell.

“What’s key for the future success of venture firms is instilling a culture of inclusion and implementing human capital programs and policies that foster and enrich the composition of a diverse and inclusive talent model that encourages individuals to be their authentic selves in their careers,” Atwell explained.

“Addressing diversity and inclusion in the workplace is a tremendous opportunity for venture capital firms.”

Some highlights of the survey:

Women in Venture Capital

“While women comprise 45 percent of the venture capital industry, findings show significant differences by firm size, location and investment focus. In general, the smaller the firm, the smaller the percentage of women on teams. For firms with five team members or fewer, women comprise 29 percent. For firms with 6-20 team members, women represent 41 percent of the workforce. In firms with 21 or more team members, women comprise 47 percent of team members.”

Minorities in Venture Capital

“Racial and ethnic minorities comprise a smaller proportion of the venture workforce than women overall. According to survey findings, non-white employees comprise only 22 percent of the venture industry. However, not all ethnicities have the same experience in venture capital. Black employees comprise 3 percent of the venture workforce, Hispanic or Latino employees 4 percent, and Asian/Pacific Islander employees 14 percent.”

Some 217 venture firms participated in the survey out of 1,336 who were asked to participate.

Read more at: http://www.nvca.org