Ulu Ventures sticks to its diversity strategy, raises $208M

Ulu Ventures, a venture capital firm that recently raised a fourth $208 million fund, remains committed to investing in diverse founders despite the trend of large corporations like Google and Meta scaling back their DEI programs, as reported by The Wall Street Journal.

Co-founded by Miriam Rivera, a Latina and former vice president at Google, Ulu Ventures utilizes a data-driven investment strategy to eliminate biases in its decision-making process.

With a focus on seed-stage startups, the 17-year-old firm acknowledges the potential risks associated with prioritizing diversity initiatives in the current political climate. However, Ulu Ventures emphasizes the importance of maintaining a rigorous approach to DEI efforts while ensuring that investment decisions are based on objective data rather than demographic preferences.

The firm’s commitment to diversity has resonated with its limited partners, leading to a significant increase in funding for its fourth fund compared to previous rounds.