Venture capital’s quest for diversity and equity remains a work in progress

Nearly a year ago, as the nation reckoned with the horrifying video of George Floyd’s murder in Minneapolis, Alejandro Guerrero, a general partner at early-stage venture capital firm Act One Ventures, sat alone at his home in Los Angeles, coming to terms with what he had just seen and bracing for the fallout.

“All the signs were that L.A. would go up in flames,” Guerrero recalls of a city already on edge from the stress of the coronavirus pandemic, pushed further to the brink amid racial tensions. “I was at...