As companies backed by venture capital stay private longer, aided by regulatory changes and easy access to private capital, an unprecedented number of them have taken on the scale of public companies. On average, the companies we evaluated were 10 years old, valued at $9 billion and had 1,700 employees. Ten percent of directors at the companies we evaluated were women, less than the 19% share of board seats held by women in the S&P 1500. Eighty-five percent of directors at the companies are white, more than the U.S. population at large but less than on public company boards. Only 2% of the directors are black and 2% are Hispanic, compared with 5% and 2%, respectively, of S&P 1500 directors, according to an Institutional Shareholder Services study published earlier this year.

https://www.theinformation.com/most-big-private-tech-firms-fall-far-short-on-governance?unlock=6241ff54b2ea6213&jwt=eyJhbGciOiJIUzI1NiJ9.eyJleHAiOjE1MTQ3MTUzMzIsInN1YiI6InNlYW5AZmludGVjaC5pbyIsInBlcm1zIjpbImVtYWlsIl19.-JGTI5EUV-6Z0ig6DUuDX__wS9xL7bztToDdiwVKsSg