It’s quite clear the world of venture capital has a diversity problem: Founders of color within the U.S. receive the short end of the stick when it comes to amassing venture dollars. The current VC climate is so dire that there are only 105 entrepreneurs of color who have raised at least $1 million. A big part of the issue is just how white and male the venture community remains. When a homogeneous group of investors controls most of the $136.5 billion that are invested annually, the consequences are felt beyond Silicon Valley.
As a Latina investor at an early-stage Bay Area fund, I’ve noticed that one of these consequences is the limited type of startup that tends to receive funding. There is an element of sameness to many of the problems consumer startups were built to solve. These startups largely target one consumer: the HENRY (High Earner, Not Rich Yet) who mostly identifies as white and monocultural. That means that millions of ethnic Americans aren’t being targeted by…
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Source : fastcompany.com
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