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 impacted by 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.
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