As we announce our $11M Series A, I also want to provide an update on the diversity of our cap table.
You can read our original post here explaining why we believe a diverse cap table is so important. In summary, we think the key reasons are:
- Diversity of opinion improves business outcomes,
- Diversity begets more diversity, and
- Diversity changes the investor landscape.
With our Series A, we’ve improved the diversity of our cap table as it relates to ethnicity and gender identity, but have seen a slight reduction in diversity across nationality and sexual orientation. Specifically, some key movements to highlight are:
- The percentage of those on our cap table who are White or British White has reduced from 60% to 55.8%.
- The percentage of those on our cap table who are Jewish has increased from 7.5% to 11.6%.
- The percentage of those on our cap table who are Indian Asian or Asian British has increased from 5% to 7%.
- The difference between those on our cap table who identify as men or women has decreased from 4% to 2%.
Gender Identity - only 2% difference between those who identify as men or women
Sexual Orientation - more than 10% of our cap table identifies as LGBTQ+
Nationality - 19 individual or combinations of nationalities are represented on our cap table
Ethnicity - 44% of our cap table are not White or British White
With this latest fundraising round, we’ve made some improvements to the diversity of our cap table, but have also identified areas we can grow in.
Making Transparent Decisions and Communicating Clearly are core values in Cable’s Operating System, and we’ll continue to be transparent about the diversity of our cap table.
As I wrote in our previous post, building a diverse cap table requires intentionality, preparation, and making diversity a priority. We are proud of the steps we’ve taken to date, and will continue to be very deliberate about diversity in future fundraises.
As always, reach out to us if you want more details about how we've built our cap table!