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There are not enough female VCs鈥攖hat much is known. Unfortunately, there are even fewer Latina VCs.

A 2016 jointly conducted by Deloitte and the National Venture Capital Association found that just two percent of all partners in U.S. venture capital firms were Latinx. It also found that Latinx employees represent only four percent of the venture workforce.

Independent research in late 2017 done by two Latina VCs鈥擡merson Collective鈥檚 and 鈥� 鈥攖ook that data a step further. The pair uncovered working in venture capital in some capacity. Of those 32, eight hold partner or managing partner roles, according to Salamanca.

To understand why there鈥檚 a dearth of Latina VCs, and to learn more about those who hold the title, I reached out to Herrera, Salamanca, and 鈥檚 . Here鈥檚 what they had to say.1

Maria Salamanca

, a at Unshackled Ventures, got into venture capital right after college. At the time, she was working for , 鈥檚 immigration lobbying organization. It was in that role she got exposed to VCs and 鈥渇ell in love with the way the VCs thought in their day-to-day roles.鈥� Salamanca’s boss and mentor then introduced her to the partners at Unshackled.

鈥淸Unshackled] was just getting started, so I ended up joining as the third hire in 2015,鈥� she said.

The sector-agnostic firm is typically focused on pre-seed investments and companies with at least one immigrant founder. So far, Salamanca has made about 30 investments.

Colombian-born Salamanca came to the U.S. when she was seven years old, and grew up in Orlando before going to college at the . When asked about challenges she faced on her road to becoming a VC, 26-year-old Salamanca cited a lack of access to mentors, networks, and resources.

鈥淚 think, more often, Latinas either tend to start their own funds or join new and up-and-coming micro-funds,鈥� she told 附近上门 News. 鈥淚t鈥檚 not like joining a firm with an established internal mentorship program. The funds we join are usually less structured and might not have very specific professional development tracks and mentoring. It makes it harder to reach out to partners at other funds, because we don鈥檛 have a relationship with them.鈥�

Looking ahead, she believes general partners across all funds need to commit to investing in talented women and people of color.

鈥淚 think it鈥檚 also going to take more women of color becoming check writers,鈥� Salamanca told 附近上门 News. 鈥淭he successful deployment of capital and investing in really good fields is one of the biggest success metrics, regardless of mentorship and support. So we have to be able to compete and win deals and invest in them to earn respect, and that means being aggressive and proactive in investing.鈥�

Vanessa Larco

, a partner at NEA, said that becoming a venture capitalist has been 鈥渕uch more incredible鈥� than she expected, but it was 鈥渘ever part of the plan.鈥�

While the director of product management for web and mobile apps at , Larco connected with NEA General Partner . After several months of discussions, Larco joined NEA as an investment partner in October 2016 with a focus on productivity apps or, as she puts it, 鈥渁pps that make people better at their job.鈥�

鈥淲hen I got the offer, it was surprising,鈥� Larco, 33, recalled. 鈥淚t took me a little while to shift what I saw myself doing long term.鈥�

But that wasn鈥檛 because Larco was a stranger to entrepreneurship. She started a mobile gaming company for kids called Funloop in 2012, and the hands-on experience sparked her interest in helping other founders bring their products to life. And although Larco is based in San Francisco, her journey didn鈥檛 start at the epicenter of tech.

Her Colombian mother and Peruvian father came to the United States for college, and Larco was born in Miami, Florida.

鈥淢iami really is the northernmost point of Latin America鈥攙ery few people speak English there,鈥� she told 附近上门 News. 鈥淚 didn鈥檛 actually learn English until I was six. Plus, I went to a French school, so my spelling is terrible across all three languages.鈥�

Once in high school, Larco found the college application process to be particularly stressful.

鈥淲hen I was applying for universities, my parents didn鈥檛 know what an SAT was. I went to an inner-city public school, so I didn鈥檛 have a ton of guidance there either,鈥� she recalled. 鈥淚 still look back and can鈥檛 quite figure out how I got into .鈥�

Although her 鈥渢raditional Latin鈥� parents weren鈥檛 familiar with the process, they were more open-minded than most of her Latinx peers, according to Larco.

鈥淢y mom was a feminist and progressive, so she encouraged me,鈥� she said.

Now that she鈥檚 firmly entrenched in the venture capital industry, Larco believes being a female in a male-dominated environment has posed more challenges than being Latinx. Larco鈥檚 most uncomfortable moments have been when founders from other countries have pitched and didn鈥檛 realize that she is, in fact, a partner at the firm.

鈥淪ome just aren鈥檛 familiar with norms or that women can write checks, so it鈥檚 awkward until they figure it out. But in some countries, that鈥檚 not the case, so they think I鈥檓 just a notetaker, and it can be uncomfortable when they realize they are actually pitching me,鈥� Larco recalled. 鈥淚n general, though, I鈥檓 seeing that founders are more thoughtful in how they build out their boards.鈥�

Larco also believes that more diversity awareness that has 鈥渃reated opportunities for people that didn鈥檛 typically have them.鈥�

鈥淚t鈥檚 so much easier to hire your buddy than go outside of your network,鈥� Larco explained. 鈥淚t does take a lot more effort in most cases to branch out, but hopefully, people are seeing the benefits of it. I look forward to the day when there鈥檚 no conversation to be had because there鈥檚 so much diversity in all areas, that it鈥檚 just a given. I think we can get there; I really do.鈥�

Jomayra Herrera

, a 25-year-old manager of edtech investments at , began working in the venture world in 2016. She was previously working at a startup on the operating side when she 鈥済ot really excited about the potential to deploy capital for the purpose of creating systemic change.鈥�

Most of her time is spent on ventures related to the future of work, employment, HR, and education. Her firm, which was founded by , typically focuses on Series A and B investing. Although Emerson Collective is 鈥渧ery active,鈥� according to Herrera, 90 percent of its investments are done privately.

Both of Herrera鈥檚 parents were born in Puerto Rico. She was the first person born in the mainland U.S. She feels like she faces triple challenges as a young Latina VC.

鈥淢ost events I go to, I tend to be the only female, and I鈥檓 usually the only person of color. Sometimes I鈥檓 the youngest person in the room, too,鈥� she told 附近上门 News. 鈥淏ut I will say that, in the past year, a lot has changed. We鈥檙e starting to see the rise of groups like All Raise working to bring together female investors in the same room and help build community.鈥�

She also noted that the venture capital industry is not known for its high turnover.

鈥淭here鈥檚 not a lot of roles that open up frequently,鈥� said Herrera, who received a master鈥檚 degree from . 鈥淚t鈥檚 not like firms are hiring all the time, but I鈥檓 optimistic that there鈥檚 change.鈥� And for those firms that don鈥檛 have diverse teams, Herrera said they are 鈥渓iterally leaving money on the table.鈥�

鈥淭he problem with a lack of diversity, especially in venture, is that, at the end of the day, you鈥檙e investing in a vision you have for the future,鈥� she explained. 鈥淎nd that future will be incredibly diverse and very different from what was in the past. So, you have to have different perspectives.鈥�

As for getting more Latinas into VC, Herrera noted that it is largely a matter of exposure, and many don鈥檛 realize it鈥檚 even a career path or something to aspire to.

鈥淓arlier exposure can help with that,鈥� she said. 鈥淰enture capital is one of those fields that a lot of folks from different backgrounds can succeed in if given the opportunity.鈥�

Personally, I love seeing persons of diverse backgrounds becoming more active in VC. The U.S. population is increasingly diverse, and the industry should reflect that.

Disclosure: Despite my last name, I am not of Latinx origin.