VCs trumping visas
A number of US venture capital firms are ignoring the edicts of the White House and are providing backing to firms founded by non-domestic entrepreneurs. The Trump administration has already delayed an Obama ruling to help international founders remain in the US for as long as five years and has indicated that it may do away with it altogether.
“As immigration issues pop up, we’re seeing VCs answer the call and offer immigration counsel [to their portfolio companies],” Jeff Farrah, vp of government affairs at the National Venture Capital Association, tells MIT Technology Review.
Those VCs specialising in immigrant-founded start-ups are often non-nationals themselves and are looking to help those aiming to grapple with the tricky visa process. One of them, Unshackled Ventures, boasts one founding partner who grew up in India, while another is the son of Indian immigrants. And there’s One Way Ventures, whose founders are from Russia and Brazil, plus One VC which boasts a Brazilian managing director.
“We think there’s an overall thread between immigrant founders that’s amazing, whether it’s because of their work ethic, determination, grit or hunger,” says One Way Ventures founding partner Eveline Buchatskiy.
Image: MIT Technology Review
For that deeper dive:
Meet the Visa Whisperer of Silicon Valley – Forbes
Silicon Valley is crowding out American minorities – STL Today