The gap in venture capital remains a barrier for entrepreneurs of color despite the recent racial reckoning movement. In 2020 only about 2% of venture capital investments went to Latinx and Black entrepreneurs*. Further exacerbating this inequality is the frequent absence of an affluent group of friends and family to support an initial funding round.
What could it look like for a non-profit to flip the script and show investors — as opposed to philanthropists — what real change looks like? Hear from the leaders at Black Girl Ventures and Hispanics in Philanthropy on how they support black, brown and Latinx-owned companies driving economic growth through:
- Pitch competitions
- Leadership skills development
- Corporate mentoring programs
- Online networking incubator
- And many more innovative approaches
They are also taking steps to educate philanthropists and investors in supporting diverse communities (like adding a fund manager role to their roster!).
Real change will require a new approach; a departure from traditional venture capital. ImpactAssets partners with both BGV and HIP to enable donors to use philanthropic dollars to invest in diverse social entrepreneurs and non-profits. These investments can fill the critical gap in early–stage financing, removing one barrier to success. Don’t miss this deep dive on shaking up the norm and finding new ways to address inequity for diverse entrepreneurs and non-profits.
