More than 70 venture capital firms join the Venture Capital Coalition for Repro in support of reproductive rights

Seventy Five Venture Capital firms including Bloomberg Beta, 776 and M13 are teaming up to launch VC for Repro, a coalition saying the criminalization of abortion is a human rights violation that stifles innovation.

Announced today, the group seeks to entice more financial leaders to support and vote in favor of reproductive rights in the Nov. 8 midterm elections.

“Criminalizing abortion violates human rights and is against innovation. This matters to the people who invest in the future of our economy. Vote like it matters to you on November 8, 2022,” VCs for Repro said in a statement.

The group was founded by the main partner of Backstage Capital Christy Pittspresident of Synastry Capital Janna Meyrowitz Turnerfounder of Amboy Street Ventures Carly Sapirco-founder of Coyote Ventures Jessica Carrand founder of VEST Her Ventures Erica Lucas.

“There is an outdated pressure for venture capitalists to have to toe the line … on where they stand on abortion.” Simone Tait, Founder, Poppy Seed Health

Speaking to TechCrunch, Pitts and Turner said that progressives within the investment community must begin to better leverage their economic and cultural power to change and shape society. For a long time people were silent and afraid to speak. Their hope is that that will change today.

“The riverside community has a huge opportunity for socioeconomic impact,” Turner told TechCrunch. “They determine which entrepreneurs and ideas will be funded, which problems need to be solved and whose expertise is concentrated in those business models. Our hope for the coalition is that it inspires those in leadership positions to find their voice right now. And then follow that up with action.

Lucas added that few things determine the trajectory of a woman’s life and career more than whether she can prevent and plan for pregnancy. She said abortion restrictions impede the mobility of talent across the nation, reduce labor force participation, reduce earning potential and can even drive families into poverty.

“I hope this movement puts pressure on business and civic leaders to understand that restricting access to abortion is not just a moral or social issue, but an economic issue,” she told TechCrunch.

Already, Roe v. Wade’s reversal is making waves in the startup and venture ecosystem.

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