The need for the initiative was clear. In L.A., only 11% of venture capital partners — the investors who sign the checks to fund tech start-ups — were women, and only 2% identified as African American or Latino. Nationwide, the ranks of venture capitalists are even less diverse still. And despite years of diversity initiatives at tech companies, the percentages of Black, Latino and Native American employees and managers at every major tech company remain low compared to state and national demographics.