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According to a 2018 study by Equity Ventures, just 3% of Venture Capitalists are Black. This presents a problem because venture capitalists tend to fund people that look like them. The current demographics of most venture-backed startups should therefore be of no surprise. Exacerbating the problem, minority founders consistently lack access to capital. The average Black entrepreneur starts a business with around $35,205 in the capital [white entrepreneur receives $106,720 in comparison] Driving change To grow a more equitable and diverse ecosystem, Black/minority-led venture capitalist firms have launched to exclusively target traditionally underfunded entrepreneurs. We’re

As a Black man in venture capital, the last few months have been eye-opening. The national conversations about social justice led to an increased awareness of the challenges faced by underrepresented founders and funders in our industry. People and organizations have since stepped up to create pathways to invest in more founders from underrepresented backgrounds. And I couldn’t be happier to see this happen. But I’ve noticed something else taking place on the sidelines. Many onlookers view investing with a representation lens as a constraint, rather than a thoughtful investment

The other day, I posted a poll on what post I should write next, and 57.1% voted for a “founders resource guide.” And because I’m working on a first-time founders course, I thought I’d focus the guide on first-time founders. Here we go… In this post, you’ll find: Founder Basics A Note for Underestimated Founders Resources And although the concepts that I share in the Founder Basics are simple, in the +1,000 startups I’ve reviewed for investment, I’ve seen first-time founders skip these foundational blocks, spend a lot of time and money, and

Systemic racism has created a world where I and many other Black people literally have to work twice as hard to get half as much. Since I’ve been able to work, I’ve worked multiple jobs. During summers growing up, I worked in the businesses started by my grandparents in Mobile, AL, and passed down to my father and his siblings. You could find me doing everything from working the register at their BP gas station to preparing sandwiches in my father’s Subway. When I went to college, despite having a full-ride academic

Hi there! You’ve likely landed on this page because you heard that, along with my co-founder Jesse Middleton, I launched a venture capital fund called The Community Fund. You’re likely wondering “what is this fund about and who is Lolita Taub?” Well, the short of it is that through the fund, we’ll invest in community-driven companies destined to become unicorns through an investment team, taking a page from XFactor’s playbook. As for me, I’m an unlikely VC fund manager. Yes, I have fourteen years of experience as an operator and investor in

The “Pipeline” is Blocked At The Top — With the recent uprising against systemic racism in our governmental institutions and society, there has been an increased focus on the on the lack of funding for underrepresented founders. Only 1% of VC funded startup founders are Black, Latinas have received .04% of VC funding, women of color can expect an average of $42k seed funding vs. the average seed funding of $1m, the list of stats goes on. Yet the problem is far deeper than startup founder-level stats. It exists at the other side of

Put your money in funds that invest in Black-owned startups Unrest in the streets has made its way to Wall Street. JPMorgan CEO Jamie Dimon was photographed kneeling in solidarity with protestors; Morgan Stanley promoted two Black women to high-profile roles; and Citi, Bank of America and Goldman Sachs published inspiring anti-racist messages and pledges. Many financial firms announced donations to the NAACP or similar organizations. These are all commendable efforts, but they won’t address the root causes of structural racism in finance. In fact, in the absence of deeper solutions,

I was one of the first Black investors to be promoted to Partner at a venture capital firm. At the time (2015), I was also one of the youngest, having just turned 31 years old. I have been in the venture industry since 2011, beginning as an intern in Kapor Capital’s inaugural Summer Associates program. I have never seen a wave of pro-Black commentary and actions like the one we are all witnessing today. Over the past few weeks, more people than ever before have aligned themselves to the #BlackLivesMatter

When we first posted The Black Founder List during Black History Month, the world looked very different. Coronavirus was not being mentioned much in the news in the US, nor were Black founders. Fast forward to today, the Black Lives Matter movement has begun to affect how people see the Black experience across every industry, even tech. This movement is pushing people to go beyond short term solutions, as the country has begun a larger discussion around how to address racism and make the startup, tech, and venture capital industry

Subscribe to the Techish Podcast on Apple Podcasts, Spotify, And Other Platforms. Episode Content: In this episode of this Techish, Abadesi and Michael discuss: All the new VC funds targeting black founders? [0:57] Alexis Ohanian steps down at Reddit [4:23] IBM abandons facial recognition software [15:17] WoC blocked from negotiation [19:15] Extras: Techish on Patreon: Advertise with Techish: Please rate and review the Techish podcast

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