This week, a group of venture capital firms announced that they’re planning to make diversity a core part of their deals with startup founders. The 10 firms committed to including new standard language in the contracts, called term sheets, they make with startup founders. It’s a diversity rider that says that the company and lead investor will make “every attempt” to include a member of an underrepresented group as a co-investor. It’s not binding, but the idea is that it’ll create opportunity for underrepresented investors to participate in deals and attract founders who prioritize a commitment to equity. Molly Wood speaks with Alejandro Guerrero, who started the initiative and is a principal with the Los Angeles-based firm Act One Ventures.