Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

John Doerr statement on gender discrimination charges

May 30, 2012: 6:22 PM ET

FORTUNE -- Venture capitalist John Doerr has broken his silence on the gender discrimination suit filed against his firm, Kleiner Perkins Caufield & Byers, last week by partner Ellen Pao. What follows is a statement posted by Doerr to the KPCB website, in its entirety:

The last several days have been a difficult time for me and my partners at Kleiner Perkins Caufield & Byers, a firm I'm proud to have been a part of for 32 years. It is not easy to stand by as false allegations are asserted against the firm, especially because legal constraints prevent us from responding fully at this time. But we have been heartened to hear from so many people – including many women – who have reached out to convey their support.

We have taken great care to treat this situation seriously, swiftly, and with integrity. We hired an expert, independent investigator to conduct a thorough inquiry. The investigator's report concluded that the allegations are without merit and that our firm does not discriminate on the basis of gender.

In the end, facts – not unfounded claims – will determine the outcome of the suit filed against us. We will vigorously defend our reputation and are confident we will prevail.

But until this matter is resolved I hope those judging Kleiner Perkins will remember one thing about us: our pioneering track record in diversity.

We have long believed the best thinking comes from a diverse set of minds and have highly valued diversity in our partnership and ventures. We are proud of our track record. Our firm today is one of the most diverse in gender, age and ethnicity, as is our equally diverse network of great entrepreneurs, including the women who founded or lead companies such as Auxogyn, Coursera, Genomic Health, Lockerz, One King's Lane, Plum District, Rent the Runway and Veracyte, among others. Most importantly, we're backing them not because they are women, but because they are the best at what they do.

That is the same reason we have a dozen female partners at our firm – the most of any leading venture capital firm – including women who are leaders across our Digital Growth Fund, our newest venture fund, our Life Sciences Venture Team, our Human Capital Team, and our Marketing and Communications and Finance functions. They are outstanding executives and leaders.

We are fortunate and grateful to have so many supporters who continue to believe in Kleiner Perkins and our values. Thank you all for your unwavering and heartfelt support.

Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.