Diversity Rider For Term Sheets

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Diversity Rider for Convertible Note and Series Seed Equity Term Sheets

Many thanks to Alexander Knight for his contributions.

In an effort to further advance diversity efforts and increase the representation of underrepresented minority groups on cap tables, Cooley GO's term sheets include the option for a diversity rider, which requires startups and their investors to seek diverse co-investors in their deals.

Diversity riders were developed by Alejandro Guerrero, a principal with Los Angeles-based Act One Ventures, following the deaths of George Floyd and Breonna Taylor.  A number of venture capital firms have committed to including diversity riders in their term sheets. The diversity rider is a tangible effort to expand access to investors of underrepresented minority groups who have