Nonprofit firm BLCK VC was designed to increase diversity in venture capital. Staying true to their goal, co-founders Sydney Sykes and Frederik Groce have launched the Black Venture Institute, an educational initiative dedicated to helping Black operators become angel investors.
In a formal announcement, BLCK VC says that the institute is the brainchild of a partnership with Operator Collective, Salesforce Ventures, and Berkeley Haas School of Business.
“These partners joined us on a journey that has been three years in the making, a journey built on the premise that if we want to make venture capital (and by extension the tech industry) a more diverse and equitable ecosystem, then we need to be the catalysts for this change,” said Groce.
Today, we are excited to be announcing the Black Venture Institute! We are building structural solutions to structural problems. This is about education & access. Shout-out to our partners @SalesforceVC, @OperatorCollect and @BerkeleyHaas https://t.co/ZKdp1V9ZwY
— BLCK VC (@BLCKVC) October 13, 2020
The Black Venture Institute is a two-week, intensive curriculum that will connect participants with top angel and venture investors, technology leaders, and LPs while learning from world-class faculty from UC Berkeley. As a result, the hope is that 300 Black operators, in three years’ time, will walk away equipped with a greater community within the industry and a deep understanding of how Silicon Valley operates.
BVI fellows will study foundational principles of investing, exchange ideas and experiences within cohorts, learn how to effectively negotiate terms, collaborate with team members, and evaluate opportunities through case studies.
To enroll, interested parties must apply here and have five years of professional experience. In addition, BLCK VC has also provided opportunities to donate to the program.
“It is our belief that programs like the Black Venture Institute will meaningfully drive more equitable access and opportunities and inspire others to work toward those same goals,” wrote Groce. “This work will take a village. Just as any great success always does. We urge you to join us as we help to transform venture capital and the tech industry. Be the change that you seek.”