“Venture capital funding breaks records—and fuels bubble concerns.” Headlines like these abound these days. When reading the tech press, you would think that entrepreneurs are drowning in capital. But while this may be true in some sectors, the reality for the vast majority of founders throughout America is very different.
The percentage of venture funding going to female-only founding teams has dropped to 2.2% in 2021. That’s the lowest it’s been in five years. In 2020, Black founders received only 0.6% of venture funding. Just three states (California, New York, and Massachusetts) currently account for 77% of all venture capital. For this last reason especially, over the last few years, my team at Wefunder, a platform that allows anyone to invest in startups, has taken three cross-country train trips to meet hundreds of founders in their own communities.
We were blown away by the sheer amount of raw talent we met—brilliant founders working hard to bring their dreams to…
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Source : fastcompany.com
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