Black History Month – Celebrating Leaders And Initiatives Driving More Black Representation In VC

For years, venture capitalists have faced mounting pressure to diversify their portfolio companies and investment teams with people of color and women. Finally, it seems that the communities efforts and campaigning are finally bearing fruit.

Although there is still a very long way to go – we can’t deny that we have come far.

We’d like to highlight the leaders and initiatives driving more Black representation in Venture Capital.

BLCK VC’s Black Venture Institute 

It provides access, insight, and community for Black operators looking to become angel and venture investors. In addition, their Breaking into Venture program offers participants a successful transition into VC at the Analyst, Associate, and Senior Associate levels.

The Black Economic Alliance Foundation, Spelman College, and Morehouse College 

The trio announced the creation of the Center for Black Entrepreneurship, the first-ever academic center of its kind to produce, train, and support a new generation of Black entrepreneurial talent.

Valence Funding Network

26 VC firms partnered with Valence, a professional network for Black talent, to launch the Valence Funding Network to connect Black entrepreneurs with VC firms.

HBCUvc 

It expanded its internship program to increase equity and access to opportunities in VC.

Backstage Capital 

It raised more than $1 million for a new fund on the private investing platform Republic from anyone (including unaccredited investors) thanks to the SEC Regulation Crowdfunding rule, providing an opportunity for new and underrepresented limited partners (LPs) in VC.

Acrew Capital 

It launched a new fund targeting LPs from underrepresented backgrounds to help build wealth for these investors.

Venture-backed startup Finix

The firm allocated 10% of its Series B round for 80 Black and Latinx investors via a Special Purpose Vehicle, inspired by the Diversity Rider term sheet, which Alejandro Guerrero created to increase diversified representation on cap tables.

A group of VCs

They are leading a VC Diversity Pledge that will make room for HBCU endowments as LPs in venture funds, allowing them to participate in the asset class and benefit from returns to build wealth at their institutions.

Lightspeed, Indie VC

Several groups have developed scout or fellowship programs such as Lightspeed, Indie VC, and VC Include. These programs offer unique opportunities for newer investors to receive capital, guidance, and mentorship while learning the ropes of being a VC.

This information has been collated using research from NVCA.