Brittni A.’s Post

The VC ecosystem is starkly homogenous, long associated with its lack of diversity and representation. Zooming in on the data, a recent VC Human Capital Survey from #NVCA and #Deloitte found that 3% of investment partner positions are held by Black employees, Black employees comprise 3% of investment professionals who originate deals, and 3% of those who represent the firm on the boards of portfolio companies. Black women founders are particularly impactedby a lack of funding, receiving .41% of all US VC dollars in 2021, according to Fast Company. For years, venture capitalists have faced mounting pressure to diversify their portfolio companies and investment teams with Black people, other people of color, and women. In 2020, the conversation reemerged in the wake of several police killings of Black Americans and folks across VC vowed to work toward reducing racial disparities and inequalities in the industry. In recent years, incremental progress toward creating a more diverse VC ecosystem has been made—71 Black women raised $1 million or more between 2021 and 2023, for example. But as is often the case, progress can feel like one step forward two steps back. In 2024, our list of Black founders and investors to know celebrates a small fraction of the Black leaders and innovators who are making impacts in their communities, industries, and beyond. This is a community-generated list, as #PitchBook does not track race or ethnicity of founders or investors. To learn more about how we put this list together or to submit a name for consideration for our next update, scroll to the end of the article. #YesWeInvest #YesWeInnovate #YesWeScale

It's so disheartening to see that the amount of funding making it into the hands of Black founders nosedived for the third year in a row, with 2023 closing out at an abysmal 0.48% of total VC dollars. (This is ~$660 million out of $136 billion. With a B). The tech industry loudly pledged its support for Black founders and startups after the death of George Floyd... but as the outrage simmered to a faint whisper, so did the promised progress. This dip in funding is part of a larger trend so prominent it's been coined the "the Great Rollback" - the widespread reduction of support for black companies. It makes what we're building at Foresight even more important. One of our customers, who is a huge supporter of KC-based black business owners, eloquently explained why he's so passionate (and certain in the profitability) of the mission to loan to traditionally overlooked borrowers - They've spent so long doing so much with so little. 👀 Where others see higher risk, he sees the potential for much higher returns. And his logic? ROCK-SOLID. The inherent bias and blatant discrimination that locked generations out of mortgages, business loans, and all other forms of credit has resulted in extraordinarily self-reliant, fiscally responsible, and very very careful entrepreneurs. When you don't have a $100K credit line to lean on, you have only one option in your business - learn to masterfully manage your cash flow, or die. As we start 2024, let's shine more light on the need for renewed commitment to supporting Black entrepreneurs and startups. Diversity is a strength that drives innovation, and it's imperative that we ensure equitable access to funding and opportunities for all. Reversing the damaging narrative that intentionally supporting and advancing black-led startups is NOT equitable - that's priority #1. Looking at you, Edward Blum. #SupportBlackFounders #DiversityInTech #EquityMatters

Crunchbase reported that only 0.48% of VC funding in 2023 went to Black founders. This disparity is unacceptable. The DFW Black MBAs remain committed to creating wealth-building opportunities for the Black community through equitable access to capital.✊🏾 We are thrilled to announce our return as community partners for this year's Impact Ventures Inclusive Capital Summit . Together, we can find and share resources that allow everyone to live the American dream. 📅 Key Details: Friday, July 26: Economic Justice Jam Summit Kick-off at Life in Deep Ellum, 6 PM - 8 PM (VIP Networking 5:30 PM - 6:30 PM) Saturday, July 27: All-day summit at the Center for Brain Health, 8 AM - 4 PM (light breakfast and lunch included) 🎟️ General Admission: $100 | VIP Experience: $200 DFW Black MBA Members: Check your emails for an exclusive registration offer. 🔗 Register here: https://lnkd.in/g9qSPQyG #DFWBlackMBAs #ImpactVentures #InclusiveCapital #BlackFounders #EconomicJustice

How the Banking System Fails Black Communities: The Urgent Need for More Black-Owned Banks and Venture Capital Funding 💥 📉 Wealth Inequality: Shawn Wooden emphasized that "wealth isn’t just about a high income. It’s your assets minus your liabilities." He highlighted the necessity to focus on wealth creation through property ownership, savings, and investments. 💡 Venture Capital Disparity: Did you know? White entrepreneurs start with an average capital of $107,000, while Black entrepreneurs begin with $35,000. “This gap is a fundamental issue. We need to foster environments where Black entrepreneurs can access substantial venture capital.” – Jabari Young “Venture capital is about the highest return on investment. And we need more Black-owned firms investing in potentially billion-dollar companies founded by Black and brown entrepreneurs.” – Monique Idlett-Mosley Black founders in the U.S. raised 0.48% of all venture dollars allocated last year. Currently, less than 2% of venture funding goes to Black women. 🏦 Role of Black Banks: There are only 23 Black banks in the U.S. with a combined asset base of $8 billion. Congresswoman Maxine Waters pointed out that Black banks suffer from a lack of capital. These institutions are crucial for providing loans to small businesses and supporting community development. 📚 Financial Literacy: Shawn Wooden highlighted the importance of saving and investing within the Black community. "We have to become more savers and investors, less consumers and spenders." 🤝 Public Policy and Private Investment: Monique Idlett-Mosley called for legislative support to ensure the success of solutions like Solo Funds, a peer-to-peer marketplace aimed at underfunded communities. 📢 Call to Action: As Congresswoman Maxine Waters said, "This is an all-hands-on-deck moment. We need to open up the avenues of opportunity and ensure that capital flows into our communities." We need to foster environments where Black entrepreneurs thrive, promote financial literacy, and dismantle systemic barriers to achieve economic equality. Let's support Black banks and venture capital firms in driving meaningful change. 🌍 Read more https://lnkd.in/d-rCtCh9 Gillian Marcelle, PhD Joe Cardillo Samantha Katz Dr. Venessa Marie Perry Shari Dunn Mike Green Dorien Nunez Richard Venegar #entrepreneurship #founders #blackbanks

Re: Black Accredited Investors, Creating Jobs For Black Men and Women! Hi Rubin Pusha III BREF Fund I, LLC is a social impact private equity real estate fund based in New York. BREF Fund I, LLC raises capital ONLY from Black accredited investors and ONLY invests that capital with Black real estate entrepreneurs ("Fix and Flip investors") in Black communities across America. https://lnkd.in/eev9VgKR Black doctors and Black lawyers represent more than 35% of the investment capital raised by the Fund from Black professionals. Our mission is to “Build Wealth and Create Jobs for Black People”! One of our goals is to help [ lower the incarceration rate ] in the Black community (because if more Black men and women have jobs/economic opportunity, we believe less crime will occur in Black communities). In America, economic opportunity has worked [ very well ] in keeping crime very low in [ every other racial and religious community ]. I would be honored to one day being on your list: Black Private Equity Weekly Recap. All the best, Thomas Lopez-Pierre [email protected] 646-527-1116

In 2019, working full-time on my own business for the first time, I quickly realized the limitations of self-funding and relying solely on support from friends and family. In 2021 I moved to Tulsa, Oklahoma, a city with deep historical roots in Black entrepreneurship. Here, I discovered a vibrant startup ecosystem and truly grasped the transformative potential of venture capital. 👉🏽 But remember, potential is nothing if not realized. I’m saddened but not shocked to hear that Black founders raised 0.13% of all capital allocated to U.S. startups in Q3 of 2023. That’s about $39.7 million out of $29.9 billion (TechCrunch). 🌟 In the face of these statistics, I’m choosing to be optimistic. Perhaps by shining a light on these disparities and actively working to address them, we can create a more inclusive and equitable entrepreneurial landscape for all. As we celebrate Black History Month, let's not just reflect on the achievements and contributions of Black entrepreneurs but also commit ourselves to fostering an environment where every founder, regardless of background, has the chance to thrive. 📣 What actions will you commit to this month to support diverse entrepreneurship? #InclusiveVentureCapital #DiversityInTech #BlackEntrepreneurs #BlackHistoryMonth #changemakers

Traditional angel and venture capital investment avenues have often been criticized for their lack of diversity and accessibility. Investment crowdfunding stands in stark contrast to these traditional pathways by breaking down the barriers that have historically limited participation from a broader investor base and restricted funding opportunities for minority-owned startups. Through crowdfunding, we can address these disparities head-on, offering a more equitable and accessible investment landscape. #RIC #investmentcrowdfunding

TechCrunch reported that funding for Black founders continues to decrease. The already slow faucet drip that was funding for Black founders has slowed to a mere trickle. The performativeness of the post-George Floyd funding "boom" has become all too clear. And yet, despite funding being on a rapid and steady decline, there are still full-out frontal assaults on investors such as Fearless Fund who are trying to provide funding exclusively for Black founders. This really makes me wonder why. Why is it that despite the clear and obvious data that shows that Black founders are underfunded, there are forceful steps being taken to eliminate those who seek to provide capital to them? I keep arriving at one answer: Fear. I believe that there are really only two emotions in life: love and fear. All other emotions are just nuanced expressions of those two. When people are angry, it's because they fear that they aren't being listened to or respected. When elated, it's because they love they way something makes them feel. So when people like Edward Blum make a concerted effort to ensure that the already dismal funding figures become non-existent, fear is the only logical motivator for their actions. But what exactly is it that people like Blum are afraid of? Is it the fact that Black people have a history of doing more with less in the face of terrible adversity? Or that Black founders could end up driving the innovation culture in the same way that Black artists drive entertainment culture? I think that what they are afraid of is a world where the most talented people increasingly don't have to get their stamp of approval in order to thrive....one in which they can no longer be gatekeepers who get to decide who makes it and who doesn't. The destiny of any group of people is tied to their ability to reach economic independence. The funding of Black and Brown founders is like a turbocharger towards wealth creation in those communities. Along with that newly created wealth comes increased power and influence on issues that matter most to those communities. And that is what people like Blum are trying to kill. The cross-cultural investment in underrepresented founders, the hope that persists in the face of ever-present oppression, and the power that comes from the innovation that moves society to more equitable systems, are all things that they fear will diminish their standing in American society. As investors, we must stand forcefully against these coercion tactics. And we must call on others who say that they value the contributions of Black innovators to society to double down on their investments rather than reduce them out of fear. If we allow fear to win, society as a whole will be the true loser. #vc #vcfunding #blackfounders https://lnkd.in/dQ9tMAjA

The VC ecosystem is starkly homogenous, long associated with its lack of diversity and representation. Zooming in on the data, a recent VC Human Capital Survey from #NVCA and #Deloitte found that 3% of investment partner positions are held by Black employees, Black employees comprise 3% of investment professionals who originate deals, and 3% of those who represent the firm on the boards of portfolio companies. Black women founders are particularly impactedby a lack of funding, receiving .41% of all US VC dollars in 2021, according to #FastCompany. For years, venture capitalists have faced mounting pressure to diversify their portfolio companies and investment teams with Black people, other people of color, and women. In 2020, the conversation reemerged in the wake of several police killings of Black Americans and folks across VC vowed to work toward reducing racial disparities and inequalities in the industry. In recent years, incremental progress toward creating a more diverse VC ecosystem has been made—71 Black women raised $1 million or more between 2021 and 2023, for example. But as is often the case, progress can feel like one step forward two steps back. In 2024, our list of #BlackFounders and investors to know celebrates a small fraction of the Black leaders and innovators who are making impacts in their communities, industries, and beyond. #VentureCapital #YesWeVC #YesWeInvest https://lnkd.in/gNYNBFtC

On April 3rd, 1968, Dr. King delivered his final speech, where he contemplatively asked, "Which age would I like to live in?" Unveiling his hope for the future, particularly the latter part of the 20th century, he concluded with the iconic words, "I’ve been to the mountaintop… and I’ve seen the Promised Land." Looking back at his words… Are we closer than we were in 1968? Of course, we have made monumental strides as a society. The fact that segregation in schools existed (and in society in general) is hard to even imagine. Are we there yet?...Not even close. Since this is a business-oriented site, one disparity to focus on is wealth. The wealth gap between white and black families has changed little since 1968. It’s actually gotten worse. From net worth, where a white family has around 10x that of a black family, to homeownership rates, where the gap has increased from 25% to 30% from 1978 to 2022, there is still a long trail in front of us to climb. So, what can we do? As Employers and Employees: Ensure that your business has DEI included in their hiring and supplier plans. Will change happen as fast as we want? No. But again, in Dr. King’s words, “If you can’t run, walk. If you can’t walk, crawl. But never stop moving.” Keep asking the questions and executing against the strategy. As Investors: According to TechCrunch, only 0.13% of venture funding went to Black founders in Q3 of 2023. That’s $39.7 million out of $29.9 billion. Pitchbook published a great list of founders and investors to watch in 2023 (link in the comments). Hopefully it’s updated in 2024. Will we get to the mountaintop during my lifetime? Probably not. Do I have hope that my children and their children will continue the climb? Absolutely. By championing diversity and equity, we pave the way for a more inclusive and equitable future.