Diversity and inclusivity have been trending since protests against systemic racism reached fever pitch this summer. As many companies scrambled to prove their support of Black lives, other entities have continued to shutout Black creativity, ideas, and wealth.
Ahead of the new year, The Startup Pill reported on Silicon Valley’s top 25 venture capital firms least likely to invest in founders of color. The information is compiled of data from The Black Founders List, which serves as a running historical record of Black founders and the investors who invested in them.
The list names well-known firms that have less than five Black-led investments while boasting thousands of investments and billions in revenue.
The Startup Pill says that only one percent of venture-backed companies are led by Black founders.
“On a macro level, the lack of diversity in the industry is a problem because it means most of the money flows to types of founders VCs understand — businesses with white men of a certain socioeconomic background as their target customer,” wrote Jesse Draper, the founding partner of female-focused Halogen Ventures, in a column. “It means fewer great businesses have the opportunity to thrive.”
Until these Silicon Valley darlings change with the times, Black founders can avoid these VCs who have historically ignored Black businesses.
Read the full list here.
