First Canadian VC fund and first North American CVC to receive certification for leadership in D&I best practices
VANCOUVER, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) -- TELUS Ventures, the strategic investment arm of TELUS and one of Canada’s most active corporate venture capital (CVC) funds, has been awarded the Diversity VC Standard Level 2 certification for its work in advancing diversity and inclusion in the global VC and CVC industry.
The Diversity VC Standard is an assessment and certification process that sets a benchmark for best practices in Diversity and Inclusion (D&I) in venture capital (VC) and sends a signal to the rest of the ecosystem that a fund follows D&I best practices. TELUS Ventures is the first Canadian VC and first North American CVC to receive Diversity VC’s Level 2 certification, given to funds recognized as leading the charge on D&I policies.
“At TELUS, we are committed to promoting and celebrating diversity and inclusion within our team, our Company, and the communities where we live, work, and serve,” said Mario Mele, vice president of Corporate Strategy, TELUS Ventures. “For 30 years, TELUS has made significant strides in ensuring that diversity and inclusion is at the forefront of our work and a part of how we approach everything we do — from developing new services and products for our customers, to talent and community development.”
TELUS Ventures is ahead of the curve as one of the few active VCs in Canada ensuring its portfolio companies hold themselves to the same high standard.
“We’re honoured to be recognized as a firm leading by example in venture capital, not only here in Canada, but also around the world,” added Mele. “TELUS Ventures is investing in the leaders of today and tomorrow — companies who are inclusive, innovative and adaptable. We’re working closely with our portfolio to advance their diversity and inclusion initiatives.”
With the strong belief that diversity and inclusion also builds more innovative and successful companies, TELUS Ventures provides its portfolio companies with access to tools, resources, and networks to succeed in their own diversity and inclusion initiatives based on best practice and industry experience. This includes:
- Establishing partnerships with diversity and inclusion organizations, such as Black Innovation Capital and the DMZ’s Black Innovation Program
- Promoting internal programs and policies to minimize bias during the investment process
- Setting and measuring diversity and inclusion-related goals included in the fund’s investment strategy
- Assessing diversity and inclusion throughout the portfolio annually
About The Diversity VC Standard
The Diversity VC Standard was launched on 9th September 2020 pioneered by 15 leading funds across Europe and Canada to provide VCs with the tools and recommended practices they need to open their networks and make funding available to underrepresented founders, as well as the resources needed to cultivate an environment where founders and colleagues from all backgrounds feel they belong in the industry and the ecosystem. The Diversity VC Standard is powered by Diversity VC, a not-for-profit dedicated to advancing D&I in venture capital, and Diversio, the people intelligence platform that measures, tracks, and improves diversity & inclusion. For more information, please visit www.diversity.vc.
About TELUS Ventures
As the strategic investment arm of TELUS Corporation (TSX: T, NYSE: TU), TELUS Ventures is one of Canada’s most active corporate venture capital funds. TELUS Ventures invests globally in companies from Seed to Pre-IPO with a focus on innovative technologies such as AgTech, HealthTech, Connected Consumer, IoT, AI, and Security to actively drive new solutions across the TELUS ecosystem. Led by a team of experienced operators, investors and executives, the Ventures team is passionate about creating positive social impact through financial tools and has invested in more than 90 companies since inception.
For more information please visit ventures.telus.com.
For media inquiries please contact:
Jill Yetman
TELUS Public Relations
jill.yetman@telus.com
416-992-2639
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e40660b-5124-4b9b-8b22-7b49fc53fff9
