Seventy-five venture capital companies including Bloomberg Beta, 776 and M13 stand together to launch VCs for Repro, a coalition that argues that criminalizing abortion is a human rights violation that stifles innovation.
The group, announced today, aims to entice more financial leaders to support and vote for reproductive rights in the November 8 midterm elections.
“Criminalizing abortion violates human rights and is anti-innovation. This is important for the people who invest in the future of our economy. Vote as it matters on November 8, 2022,” said VCs for Repro.
The group was started by the general partner of Backstage Capital Christie Pittschairman of Synastry Capital Janna Meyrowitz Turnerfounder of Amboy Street Ventures Carli SapirCoyote Ventures Co-Founder Jessica Karrand VEST Her Ventures founder Erika Lucas.
“There’s the outdated pressure for VCs to follow the line…about where they stand on abortion.” Simmone Taitt, Founder, Poppy Seed Health
Speaking to australiabusinessblog.com, Pitts and Turner said progressives within the investment community need to better use their economic and cultural skills to change and shape society. For a long time people have been silent and afraid to speak. Their hope is that that will change today.
“The venture community has a huge opportunity for socioeconomic impact,” Turner told australiabusinessblog.com. “They determine which entrepreneurs and ideas are financed, which problems are tackled and whose experience is central in those business models. Our hope for the coalition is that it will inspire those in leadership positions to find their voices now. And then take action.”
Lucas added that there is little that defines a woman’s life and career path more than whether she can prevent and plan pregnancies. She said abortion restrictions hamper the country’s talent mobility, reduce employment rates, undermine earning potential and could even drive families into poverty.
“I’m hopeful that this movement is putting pressure on business and civic leaders to understand that restricting access to abortion is not just a moral or social issue, but also an economic one,” she told australiabusinessblog.com.
The reversal of Roe v. Wade is already making waves in the startup and venture ecosystem.