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VC lobbying group encourages improved workplace misconduct policies

The National Venture Capital Association, the trade group representing American venture capitalists, published a trove of HR documents encouraging firms to adopt new policies to define unacceptable workplace behavior.

By Lizette Chapman | Updated on February 22, 2018
The initiative is the culmination of eight months of work by the industry group, member firms and experts in legal, HR and employment issues. (Photo: Shutterstock)

Despite investing some $80 billion a year and helping coach the world’s fastest-growing companies, the venture capital business is oddly unsophisticated. Most firms lack basic corporate functions, such as human-resources departments or employee codes of conduct. The consequences of this weren’t readily apparent until last year, when more than a dozen women came forward with allegations of harassment against VCs.

The industry is now getting some long-overdue help, and it’s coming from a Washington lobbying group. The National Venture Capital Association, the trade group representing American VCs, published a trove of HR documents on Thursday encouraging firms to adopt new policies to define unacceptable workplace behavior. The paperwork describes what constitutes sexual harassment and discrimination, and outlines a procedure for handling complaints. HR best practices, diversity and inclusion policies, paid parental and family leave, and a code of conduct are also covered in the documents.

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