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Seventy-five venture capital VCs for Repro, including Bloomberg Beta, 776 and M13, have come together to launch Repro, arguing that criminalizing abortion is a human rights violation that stifles innovation.
The group, announced today, seeks to persuade more financial leaders to support and vote for reproductive rights in the Nov. 8 midterm elections.
“Criminalizing abortion violates human rights and is anti-innovation. This is an issue for those investing in our future economy. Vote for what matters to you on November 8, 2022,” read the VCs’ statement to Repro.
The group was launched by the general partner of Backstage Capital. Christy Pitts and president of Synastry Capital Janna Meyrowitz TurnerConversations around this topic were held earlier this year by Amboy Street Ventures Founding Partner Carly Sapir, Coyote Ventures Founder Jessica Carr and VEST Her Ventures Founder Erica Lucas.
“There’s an outdated sense of where VCs stand on abortion.” Simon Tait, Founder, Poppy Seed Health
Pitts and Turner said in an interview with TechCrunch that progressives in the investment community need to leverage their economic and cultural expertise to better leverage and transform society. For a long time people were silent and afraid to speak. Their hopes change today.
“The venture community has a huge opportunity for socioeconomic impact,” Turner told TechCrunch. “They determine which entrepreneurs and ideas get funded, which problems are solved and whose expertise is focused in those business models. Our hope for the coalition is to inspire those in leadership positions to find their voice now. And to follow that into action.”
Lucas added that few things determine the direction of a woman’s life and career more than preventing and planning pregnancy. She said that abortion hinders the country’s talent movement, reduces labor force participation, reduces unearned potential and can lead families to poverty.
“I hope this movement will put pressure on business and civic leaders to see that restricting abortion is not just a moral or social issue, but an economic one,” she told TechCrunch.
Already in Roe v. Wade Flipping is making waves in the startup and venture ecosystem.
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