We feel the need to lay down these basics (so basic we didn’t think they ever needed to be said)
Female Founders is a non-profit research and advocacy organization dedicated to promoting equality for women in technology.
In our work, we hear success, if not progress, stories on a daily basis. So when the recent Dave McClure and Justin Caldbeck scandals came to light, they hit us like a sudden, swollen wave – cold and hard in the face, pulling us under for a scary moment. Then as we gasped for air and looked around, we realise that we’re a few paces back from where we already were, that much farther from where we want to be.
Also read: Former Head of MaGIC, Cheryl Yeoh, says she was sexually assaulted by Dave McClure
Dave McClure is the founding partner of 500 startups, one of the leading global accelerators and Justin Caldbeck is the co-founder of Binary Capital, a San Francisco venture firm. Caldbeck’s co-founder, Jonathan Teo is a Singaporean. All three men have resigned from their firms following published reports detailing accusations of sexual harassment from McClure and Caldbeck by several female tech entrepreneurs. Caldbeck has published an apology that was been widely criticized for being insensitive and PR agency-crafted.
The 500 startups and Binary Capital incidents are just few of many sexual harassment stories hitting the tech industry right now. For anyone still in Dave McClure and Justin Caldbeck’s league, we feel the need to lay down these basic (so basic we didn’t think they ever needed to be said)
10 rules for VCs on how to respect female founders:
1. Sexual advances – Don’t hit on them, whether they are pitching to you or if they are a portfolio company. That’s just being unprofessional.
2. Objectifying women – Don’t comment on their bodies, looks, or sex appeal. Even if you think you’re funny. You’re the only one enjoying your unsolicited attempts at flirting. Let’s stick to business, shall we?
3. Power dynamics – If they say no to meeting for a drink late at night do not pressure them to say yes. No means no, and it only needs to be said once.
4. Avoid bias – Assess the business plan gender-blind. In fact, do it race-,religion-, and age-blind too. The business plan speaks for itself.
5. Respect their personal life – Don’t question how they will balance parenthood and work. This has already been thought through, discussed with the partner, and planned for.
6. Quid pro quo – Don’t bait funding for their company as a way to get laid. That’s Sexual Harassment 101.
7. Be honest – If you have committed any of the above, and you’re caught with your pants down, then write your own apology. Please, leave the PR agency out of this.
8. An eye for an eye – Don’t take or threaten to take “revenge” on a Female Founder for speaking out.
9. Don’t be an enabler – If you see others in your firm or other VCs behaving in inappropriate ways, call them out. Don’t attend their parties, don’t co-invest with them. Hold your industry to a higher standard.
10. Be the change maker – Enable women in your VC firm, make sure there is at least one woman present when making investment decisions and bring women among managing partners of your firm. This will change your company culture and improve your RoIes. Research proves it.
It all boils down to respect. Have a little. It goes a long way.
Also read: We need to change the way we talk about sexual harassment, an interview with Cheryl Yeoh
For Female Founders working with VCs
Here are some things to keep in mind:
1. Identify bias – be prepared and alert in all interactions. If the VC asks you out for drinks or wants to meet at a hotel, stand up for yourself and make it clear that you are uncomfortable with the location and would like to meet in an office environment or you will be bringing someone along with you.
2. Point it out – during uncomfortable conversations such as interruptions or “mansplaining” ask the VC if he would act the same way with a man, and ask him to consider it from your point of view.
3. Educate them – by discussing openly how you felt mistreated you not only show you can solve difficult situations but also help VCs change how they treat female founders in the future.
4. Reach out – If you feel that you have been disrespected as a woman founder do reach out to support groups like Female Founders, Crib, Girls in Tech etc who will support you if and when you will reach out.
Demand respect. Don’t be silent. Help change the industry.
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This article was written by the Female Founders Executive Committee.
The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, submit your post here.
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