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On Friday, TechCrunch reported the latest Crunchbase venture capital data, and the news isn’t great from a diverse perspective: Black founders raised $187 million in venture capital from the $150.9 billion allocated in Q3 this year. To put that into perspective, that’s only 0.12% of total investment earned during the quarter.
The story He started a conversation Black founders on Twitter about the current state of venture funding. Suffering and heartbreak ensued, but still illuminated the tenacity of founders and investors whose hearts were in change. It also exposes the fact that the powerful — most, if not all, rich, white people, LPs, and high-powered institutions — stick to their old ways instead of doing much to change how venture capital actually works. Invested.
One way to hold people accountable is to speak out about injustice. This is one of the reasons why TechCrunch decided to create a platform for black founders – anonymous or not – to provide their startups with their candid and honest experiences of what fundraising looks like today.
We want to hear from you investors who are still closing the doors. We want to know how often you have to switch codes and what the stress levels are like when entering certain classes. We want to know the good parts, like who are collaborators, but the bad parts, like who are bullies.
We recognize that this is not a new discussion. But there’s a lot of work to be done, so it’s important to keep it up.
The questions are below (click the form and scroll). Answer as you wish; You can mention names, or you can’t. Please try to answer in a paragraph or 2-3 sentences and give clear examples where possible. We will publish many of the responses later this year. Thanks for your help!
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