Annual DEI Report
A review of our diversity, equity, and inclusion efforts
The partnership that has powered HarbourVest’s success since its founding in 1982 continues to fuel everything we do in support of our clients, colleagues, and communities. We are proud to share our Annual DEI Report to highlight the important progress we have made over the past year; celebrate the vital work being done to strengthen our firm and industry; and reaffirm our commitment to constant improvement in pursuit of diversity, equity, and inclusion.
A message from our Executive Management CommitteeHarbourVest Partners was founded and, in fact, named with partnership core to who we are and what we stand for. We have embraced diverse voices and harnessed shared values for more than four decades, using the strength of varied perspectives to deepen trust, empower excellence, and drive growth. Our people and the power of what we can do together continues to be essential to the success of our firm. A year out from the publication of our Inaugural DEI Report in 2022, we are proud to have made important progress in each of our six strategic pillars of DEI. These developments further bolster our standing as a resilient, responsive, and transparent organization that reflects the unique perspectives of our team members across the globe, the clients we serve, and the communities where we live and work. In the past year, we established Employee Resource Groups (ERGs) to build community through shared experience and encourage colleagues to seek and provide support. To date, more than half of our global team is participating in at least one ERG, either as an identifying member or an ally. We also launched Regional Roundtables to ensure all colleagues have an opportunity to shape our DEI strategy, and HarbourVest University to provide a comprehensive suite of development resources across a broad range of subject areas that includes DEI. Our Diversity & Inclusion Council was expanded to include senior leader representation across more regions and business units and, as part of this change, we added “equity” to the now DEI Council’s name to reflect its importance to our goals. We continue to build on the success of our internship program, and are now partnering with GAIN, an organization helping young women and non-binary people enter the investment management industry. Lastly, we remain committed to supporting under-resourced markets and emerging and diverse managers, two of which we profile later in this report. While this work is key to our success internally, it is also critical that we reflect on the state of private markets overall to both gauge our efforts and to encourage peer organizations to do the same. To this end, we are pleased to share that HarbourVest recently participated in The state of diversity in global private markets: 2023, a report from McKinsey which provides a comprehensive view of DEI across private equity and alternative investing. We believe our commitment to making progress through transparency benefits the entire industry, and helps us learn, grow, and change together. Having celebrated our accomplishments, we also acknowledge that DEI is in a perpetual state of evolution. We must remain steadfast in our commitment to embrace constant improvement. With the publication of this report, we pledge to continue fostering a culture where success is measured not just by financial gains, but also by the richness of our diverse partnerships and shared achievements. We are committed to exploring innovative ways to sustain, expand, and deepen our efforts. Thank you for joining us on this journey.
Six Strategic Pillars of DEI
We use a broad framework to define what DEI success means for us centered on six areas of focus:
Sourcing, developing, and retaining diverse talent
Establishing an inclusive culture where all employees can thrive
Ensuring processes and procedures are fair and equitable
Strengthening the communities in which we live and work
Investing in emerging and diverse managers and under-resourced markets
Embracing our leadership role in the industry to progress DEI objectives
“The Six Strategic Pillars of DEI we launched in 2022 continue to ground our work and I am pleased to share that we have made substantial progress in each of those areas over the past year. These efforts have helped to further HarbourVest’s standing as an organization with a healthy and inclusive work environment where colleagues feel welcomed, valued, and prepared to continue advancing our business and their careers.
I am proud of both where we started and the progress we have made but recognize there is more to do. We must hold ourselves accountable for creating sustainable and lasting change through intentionality, perseverance, and transparency. People are our greatest asset, and we will continue to focus on driving equitable outcomes to support one another as we tackle whatever the future holds.”
Chief Diversity, Equity,
and Inclusion Officer