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There are many myths about Silicon Valley, but AfroTech’s Black Tech Green Money is here to get to the bottom of it. As the founding managing partner of Plexo Capital, an institutional investment firm that was incubated and spun out of Google Ventures (GV), Lo Toney knows what it means to be on both ends of the table, whether it’s being a venture capitalist (VC) or operating a startup. “There are a lot of similarities,” he said during the episode of Black Tech Green Money (BTGM) podcast. “We think about it all the time, both in terms of how we operate and communicate the message of Plexo Capital, but also what we look for in other early-stage firms in general partnerships that we want to invest into.” When it comes to what they’re looking for in a startup, he further explained that the market size, along with the problem that is solved, the solution and how it will fit into the overall competitive landscape are some of the key elements that encourage a VC to invest. “Most...
GV, the company formerly known as Google Ventures, just got its first Black female partner. Fortune reports GV — an Alphabet-backed venture capital firm that has made investments in GitLab, Slack, and Uber — has just promoted Principal Terri Burns to investing partner. This title will grant her the ability to write checks and at age 26, Burns will make history as the firm’s youngest-ever partner. Burns, as a Black woman, is a unicorn in an industry long dominated by white men. In the VC world, slowly but surely some progress has been made. According to All Raise , the number of female decision-makers grew from 9 percent at the end of 2017 to 13 percent this past February. Only one Black woman has been named partner at any VC firm in 2019, per Fortune , and Black people made up just 0.67 percent of all entrants to the industry between 2010 and 2015. Prior to spending three years at GV as a principal, Burns was an associate product manager at Twitter and had already made out checks...