Frangala
All Star
Like a tweet already posted less than 1% AGAIN 1 MEASLY PERCENT of venture capital funding are deployed to Black founders and early stage companies. It is mainly white founders and a distant second Asians.
What is even more disturbing VCs and private equity firms get a significant amount of their capital to invest from public state or city pension plans of public municipal employees (i.e state or city teachers firefighters police etc...).
Those public municipal professions where Black people are over represented and yet the capital from those public pension plans meant to compensate post-retirement Black public employees for their commitment to public service is not sufficiently allocated toward either Black-run VCs, Black-run private equity firms and eventually does not significantly trickle down to Black founders and entrepreneurs.
Black founders still raised just 1% of all VC funds in 2022 | TechCrunch
In total, U.S. Black founders raised an estimated $2.254 billion out of the $215 billion in U.S. venture capital allocated last year in 2022.
techcrunch.com
What is even more disturbing VCs and private equity firms get a significant amount of their capital to invest from public state or city pension plans of public municipal employees (i.e state or city teachers firefighters police etc...).
Those public municipal professions where Black people are over represented and yet the capital from those public pension plans meant to compensate post-retirement Black public employees for their commitment to public service is not sufficiently allocated toward either Black-run VCs, Black-run private equity firms and eventually does not significantly trickle down to Black founders and entrepreneurs.
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