By Jasmine Browley ·Updated February 24, 2023
Black founders have historically faced significant challenges in securing VC funding and average less than 2% of overall investment dollars each year. But, there’s a silver lining: the number of Black investors is increasing.
That’s one of the key findings from a recently released report from BLCK VC, a 501(c)(3) nonprofit organization dedicated to increasing the representation of Black investors in venture capital, SVB and Amazon Web Services (AWS). The report analyzed the survey results of 225 Black investors at various stages in their careers.
“Venture capital is a pillar of innovation and financial growth for the American economy, but the industry’s ability to >news release. “The release of the second edition of BLCK VC’s report shares actionable steps the industry can take to galvanize change and break down systemic barriers.”
Some of the other interesting findings that came out of the analysis include: Equality for Black women in venture continues to lag. Black women investors are disproportionately represented in non-partner-level roles, with only 16.7% of the Black women in the study’s sample having partner roles. The absence of Black women decision-makers at firms reduces investment opportunities and the level of diversity in the overall investment industry.
“By enhancing the collective strength of the venture community, BLCK VC works toward breaking down obstacles,” said Sydney Sykes, Co-founder of BLCK VC in a news release. “Companies cannot afford to miss the valuable talent, skills, and perspectives that Black investors bring. It’s time to invest in the current and emerging pipeline of Black venture capital leaders and their ideas by supporting their fundraising efforts and empowering them to make more investment decisions.”
The full report can be found here.
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