Black History Month: Celebrating Leaders & Initiatives Driving More Black Representation in VC

Black employees comprised 3% of all investment partners at U.S. VC firms in 2018, and 1% of total venture funding went to Black or African American startup founders in 2020. As an industry, we are far from where we should be with respect to Black representation among senior leaders. We have a long way to go, but as we’ve reached the end of February and Black History Month, we want to reflect on some of the positives and progress in the industry by highlighting a few leaders, organizations, and efforts that are driving meaningful change for more Black representation in VC. These groups and individuals (and others!) are making history. At Venture Forward, we share the mission of shaping a more diverse, equitable, and inclusive (DE&I) industry, and we’re excited to recognize their accomplishments.

Unlocking Capital & Building Wealth

Capital is the backbone of opportunity and a driver for success in the venture industry. Systemic and institutional barriers have historically limited Black investors from accessing capital or participating in the wealth creation of VC, but several recent efforts have been encouraging:

  • Backstage Capital raised more than $1 million for a new fund on 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 launched a new fund targeting LPs from underrepresented backgrounds to help build wealth for these investors.
  • Venture-backed startup Finix allocated 10% of its Series B round for 80 (Read more...)