gumi Cryptos Capital Statement on Equality

I read this post called “How to get a job in Venture Capital” and I wanted to share it here. Pedro Sorrentino is a super nice guy and is promoting a culture of Venture Capital that I truly believe in.

Most of the content on this blog was written pre-covid and before the protests associated with the extrajudicial killing of George Floyd. I think it’s important to simply say the words Black Lives Matter. And to also acknowledge that we as a firm strive to support a more just and equitable future including the support of women and under represented minorities in startup entrepreneurship and venture capital. We also categorically denounce and abhor the kinds of sexual misconduct that has become evident as the result of the MeToo movement.

This has always been true of our fund and there hasn’t been any particular incident that precipitated this writing. It’s just become clear that unless people are explicitly and categorically announcing their intentions about equal treatment publicly, they may be inadvertently contributing to the broader culture of inequality and unfair treatment.

As with any human endeavor, we may produce errors in our judgement or conduct. But we maintain a strong intention to continue to provide leadership with regards to issues related to equality.

To clarify, Venture Capital is indeed a capitalist endeavor, and it is our professional duty to pick winners. As professional fund managers it doesn’t matter who we want to win, it only matters who actually wins. And we are aware of the ways in which society stacks the decks against the underrepresented minorities in startup entrepreneurship and venture capital. But on the other hand we are also aware of how overcoming such obstacles can make such entrepreneurs stronger and more resilient. We have to maintain our sensitivity and our willingness to learn and our respect for entrepreneurs from many different backgrounds.

This is an evolving conversation and by no means concluded. But we wanted to make a public statement about what we stand for because we strive to keep pace with advancements in our society and we don’t want to miss the opportunity to invest in the best teams in the world.