Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Four U.S. venture capital funds founded by minority women band together for change

EconomyOct 18, 2021 03:17PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. Venture capitalist Noramay Cadena, managing partner at Supply Change Capital, is pictured in this undated handout photo. Alisha Tova/Handout via REUTERS 2/2

By Jane Lanhee Lee

OAKLAND, Calif. (Reuters) - Four venture capital funds founded by women of color in the United States on Monday said they are banding together under an umbrella called The Ally Capital Collab to get an edge on fundraising and investments.

The 22 Fund and WOCstar Fund have Black female founders, while Supply Change Capital and 2045 Ventures have Latina founders, according to The Ally Capital Collab.

Protests on racial injustice last year have triggered a move towards more diversity in the venture capital world, but startups run by people of color remain under-represented.

According to data firm Crunchbase, in the first nine months of 2021, over $7 billion of investments were made in Black- and Latino-founded startups, up from less than $3 billion on average for the previous six years.

That represents around 3.2% of funding to all U.S. startups.

"There's a lot of investors who fundamentally are aligned with us, but have never had access to us. And so this is us coming together to make sure that people know about us," said Gayle Jennings-O'Byrne of the New York-based WOCstar Fund, which invests in startups by minority women. 

She said that creating an organization like The Ally Capital Collab for funds to work together makes it possible to aid each other in due diligence and give investors confidence, as many minority venture capitalists lack the Silicon Valley network to raise funds. 

Representatives from all four funds are set to speak at an event at the Milken Institute in California on Monday.

Last year, industry group the National Venture Capital Association launched an arm called Venture Forward to try to tackle the lack of diversity.

"If we can help move the needle on the investor diversity... it's going to inherently change the make-up of founders," said Maryam Haque, Venture Forward executive director. She said its latest survey indicated there had so far been little progress in improving racial or ethnic diversity at the partner level.

 

 

Four U.S. venture capital funds founded by minority women band together for change
 

Related Articles

Facebook risks meta flop, metaverse developers say
Facebook risks meta flop, metaverse developers say By Reuters - Dec 01, 2021 1

(Corrects to fix literal in last paragraph) By Elizabeth Howcroft LONDON (Reuters) -Facebook risks missing the point of metaverse - and a coming shift in consumers' behaviour - if...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
OVER CULL
OVER CULL Oct 18, 2021 5:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
LOL
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email