Still, he believes Black VC is positioned to drive change.

“Our community and programs exist to increase these numbers,” Gordon explained. “We have quite a mountain to climb here but also see so much runway to double, triple, quadruple the share of the pie we can and should be occupying. The picture is not entirely bleak.”

He added, “The number of first-time Black fund managers is growing, but they face an uphill battle, raising funds that are 35% smaller than their targeted size. Mentorship is making a difference; over 70% of junior Black investors report having a Black mentor in the venture industry. These are promising signals, but they are not enough. Our community and programs – Breaking into Venture, Mentorship Network, Black Venture Institute, and Fund Forward are equipped to move the needle forward.”

Robert Gordon IV

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