The policy was intended to help close the pernicious gender wage gap, which sees women and people of color paid far less than white men for the same jobs.
"When my original role was announced, I hoped there'd be a day when being a woman wasn't the news hook," Barna said. "I hope firms will look for great investors who happen to be female. For me that's part of my motivation for taking this long-term commitment. It's important for women to be represented, and to have the sort of leverage that First Round provides."
Clare O'Connor / Forbes
The magazine was stunningly progressive in those early years, employing women journalists to profile female business leaders before any of them even had the right to vote.