The European Investment Fund renews support to Included VC to enhance diversity and inclusion in the Venture Capital industry

Newsroom Business, Finances, Start Up

Included VC is an eight month fellowship where aspiring venture capitalists from diverse, overlooked and underrepresented communities get exclusive access to education and mentorship from the best Venture Capital (VC) talent. The European Investment Fund (EIF) is sponsoring Included VC on its third year.

Already around 2500 candidates from diverse backgrounds sent their applications, from all over the world. Up to 100 people will benefit from Included VC’s fully-funded 8 month fellowship in 2022 which comprises 14 components, totalling 4,000 hours of collective contact time and unparalleled access to Europe’s top investors.

This is delivered via: masterclasses and mentoring, deep foundational learning, investment committee simulations and virtual retreats to support professional networking. EIF experts are contributing to the programme by sharing their experience and insights with the successful candidates.

Stephen Millard, Co-Founder of Included VC and Operating Partner at Notion Capital

“We believe entrepreneurial ability is universally distributed, but venture capital is not. At Included VC, our mission is to give people from diverse and overlooked communities access to the knowledge, opportunities and network to launch their careers in VC so that they can become the VC Partners of tomorrow. The European Investment Fund has been a cornerstone investor for many of the most forward thinking funds in Europe so we are delighted to welcome them to the Included VC family, joining us in our mission to lead change within the VC industry”

European Investment Fund Chief Executive, Alain Godard, said:

“At the EIF, we want to give every talent the opportunity to enter the Venture Capital sector, especially the ones who lack the enabling environment and network to do so. A diverse and inclusive VC ecosystem in Europe is key to enhance performance, inspire innovative solutions and generate greater motivation and engagement. Included VC is a fantastic initiative that we are proud to sponsor together with our Venture Capital partners. I believe that these new talents will in turn invest in diverse founders, thus contributing to shaping a stronger society.”

In 2018, less than 1% of VC funding raised by European startups went to all female-founded companies. Non-white Partners account for only 20% of all VC Partners in the US. Of all the founders that raised funding in 2019 in Europe, 0.5% identified as Black, 1.4% Middle Eastern and 4.1% as Asian. Only 23% of investors at all levels in the US identify as people of colour.

Included VC was created to address this gap. 23 out of 29 Fellows from Included VC’s second fellowship, who were actively looking to secure investment roles in Venture Capital (79%), were successful in doing so.

Included VC is a global fellowship for aspiring venture capitalists from diverse, overlooked and underrepresented communities. Fellows receive exclusive access to knowledge and mentorship from leading VC professionals and many go on to secure their first roles in venture. This free eight-month fellowship comprises masterclasses, mentoring, foundational learning, investment committee simulations and virtual summits. Included VC was founded in 2019 by Notion Capital in partnership with Creandum, Daphni, HSBC Ventures, Kaya VC, K-Fund, Kaya VC, Mangrove Capital Partners, HV Capital, Mouro Capital, M12, Seedcamp, and Wilson Sonsini.

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. By taking SME risk, the EIF is fostering EU objectives, notably in the field of entrepreneurship, growth, innovation, research and development, employment and regional development. More than 1 million SMEs have benefited from enhanced access to finance through financial instruments managed by EIF.