BLCK VC, a nonprofit for Black investors, has appointed two-time founder and investor Robert Gordon IV as its CEO. BLCK VC BLCK VC is a nonprofit organization that equips Black investors with the access, education, and community they need to accelerate their venture capital (VC) careers. Typically, Black entrepreneurs receive less than 2% of overall dollars each year in VC funding. Additionally, by the end of 2022, adverse market conditions led to a 36% drop in overall VC dollars, but Black entrepreneurs saw a 45% decrease in the financing. BLCK
California is working on passing SB 54, the nation’s first legislation to increase diversity in venture capital. In California, venture capital investments do not reflect the state’s diversity, according to the bill. It states that companies founded or co-founded by women receive far less investment funds than companies founded by men. Additionally, companies founded or co-founded by people of color receive far fewer investment funds than companies founded or co-founded by white people. Black founders have long faced challenges securing funding for their businesses, with VC funding dropping by 36%
A UCLA Luskin School of Public Affairs report found gaps in funding given to Black and Latine founders. The school tracks investments made by LA-based venture firms connected to the Annenberg Foundation’s Pledge LA initiative. Pledge LA is a coalition of over 200 venture capital firms and tech companies. Initiated by the Annenberg Foundation and former Mayor Eric Garcetti, the pledge advances access and opportunity for all Angelenos. Each year, PledgeLA anonymizes funding data and presents it at the regional level, highlighting pain points and areas of success for the LA tech scene. What
Black tech entrepreneur Luke Cooper aims to raise $50 million by November for his Baltimore-based venture capital firm, Latimer Ventures. Latimer Ventures Latimer Ventures, named in honor of Lewis Latimer, an African American inventor born to fugitive slaves, is a venture capital firm focused on helping the next generation of Black and Hispanic enterprise SaaS unicorns. They source the best seed deals from diverse managers and connect them with tech startups. Cooper founded Latimer Ventures in 2022 to address the lack of capital available to entrepreneurs of color. He plans to
Unshackled Ventures, an early-stage venture capital firm for immigrant founders, has closed its third fund with $35 million. This adds to the $35 million the firm, founded by Manan Mehta and Nitin Pachisia, has already deployed to 80 companies. Unshackled Ventures has also provided over 200 founders with visa sponsorship, immigration support, and a community of resources. Unshackled Ventures The first and only early-stage venture capital fund focused on retaining foreign talent in the U.S., Unshackled Ventures invests in visionary immigrants and has built a place for them to successfully launch a
This article was first published by Rumbi Makanga on Medium. I was asked to give a talk by a London-based company for Black History Month in October 2022. Initially, I was going to title my talk Your Silence Will Not Protect You after the eponymous collection of essays by Audre Lorde and to honour the many silences I have nursed over the years and the vast silences I know countless Black people are forced into in their professional lives. It took a bout of illness in the last days of 2020 to
Dr Rashae Barnes, the founder and CEO of Evals Equity Women’s Fund, has announced that September 30 will mark the first-ever National Black Funding Day. The national holiday was registered through National Day Archives. It aims to recognize and honor the accomplishments of Black entrepreneurs in the funding industry, while highlighting the disparities in venture capital grants, and educational resources for underserved communities. Funding for Black founders Black founders have long faced challenges in securing funding for their businesses, and the current economic climate hasn’t helped. Following George Floyd’s murder,
The nonprofit social startup digitalundivided has released its latest Project Diane report unveiling the experiences of Latina and Black women tech entrepreneurs. Catalyzing Latina and Black women’s growth Founded in 2012, the Newark-based startup leverages data, programs, and advocacy to catalyze economic growth for Latina and Black women founders at all stages of their entrepreneurial and funding journeys. In 2016, digitalundivided launched the Project Diane Report, the first biennial demographic study that captures the experiences of Latina and Black women tech founders. “Building on the legacy of women like Diane Nash who worked
New data has revealed that there has been an uptick in the amount of capital funding Black founders in the U.S. raised in Q4 of 2022. Although this shows that the tide may finally be turning, founders have yet to receive adequate funding to scale their businesses successfully. According to Crunchbase, Black startup founders raised around $264 million out of the $33.6 billion allocated in Q4 of 2022. This may seem small, but a slight increase from the $178 million raised from July to September 2022. What did last year
Now more than ever, Black VCs deserve to be celebrated – which is why RISE InVC couldn’t have come at a better time. Hosted by Included VC, RISE InVC will take place from January 17 to 19 and will be the first-ever global gathering designed to spotlight and celebrate the work Black VCs have been doing over the years. Venture capitalists from South Africa, Singapore, Australia, France, and the UK will come for three days to meet, connect, and inspire one another. Across the days, Rise InVC will hold a
