beyond the bigotry:

battling racial injustice

beyond the bigotry:

battling racial injustice

©2016 Pacific Press

We find ourselves at a time when we are truly acknowledging the unjust and systemic racism that is plaguing this country. Like much of the rest of our country and parts of the world, we are horrified by the murder of George Floyd, and all the other Black lives impacted by police brutality recently and over the centuries. While our first duty is to indeed listen to the unheard voices, we are compelled to speak up against systematic and institutionalized racism wherever we find it. And, perhaps, most importantly, we are challenged by the role we have played, intentionally or not, in perpetuating inequality in our lives and in our industry. Although there is no immediate cure to dismantling this system, we commit to working diligently to do our part while amplifying the voices of the Black community.

We know that women are not the only ones who face unconscious bias when it comes to venture investing. From 2013 -2017 just 1% of VC-backed entrepreneurs were Black, a Rate My Investor study found. Black women are amongst the fastest-growing group of entrepreneurs in this country but account for 0.06% of venture capital fundingIt is clear that there are structural barriers founders and funders of color face when building their businesses and raising capital. While we are proud to amplify the voices of Black leaders currently in our network, we recognize many more exemplary Black investors and entrepreneurs to whom we can and should extend our outreach. We are committed to doing our part to address this. Our actions include:

(1) Drive capital to funders of Black female founders and funds who invest in them with:

  • Our LP Campaign: Connecting GPs and LPs committed to diversity and inclusion via our new Beyond the Billion pledge campaign, engaging the community to integrate female founders and funders of color into their investment strategy
  • Our new LP Office Hours: Offering strategic and tactical advice to Black VCs and VCs investing into Black female founders as they scale their funds 

(2) Amplify Black female voices:

  • Continue to actively feature Black founders and funders on our panels and other conversations we’re having, with an exclusive spotlight on our next Billion Dollar Byte “Funding the Next Wave: When Black Women Innovate”

(3) Educate ourselves and others on the experience of Black founders and funders to better address the issues they face

(4) Improve D&I practices internally and externally:

  • Ensure diversity in our community of investors and advisors
  • Launch a diverse Advisory Council by the end of 2020

We at Beyond the Billion will continue to build on this plan of action as a global investment community, leveraging our role to continue driving returns through diversity. In the meantime, if you’re a Black female founder and/or a venture fund ready to pledge to invest more into Black female founders, please reach out to us at blm@beyondthebillion.com or fill out the form below. We are committed to connecting you to the resources you need whether that is technical assistance, strategic and tactical advice, or funding.

We are committed to doing our part to build a more just, equitable, and inclusive world. Join us in this call for action.

 

Sincerely,
Shelly, Sarah, and the BTB Team

01

For The Investor

The lack of diversity in venture capital is no secret. In line with other research, our partner, Different estimates that of the 4,255 decision-making partners at 1,500 US venture capital firms, less than 3% are Black, and diverse management teams make up only 18% of VC firms. Let's be tactical about changing this - "hire, and wire".

01

For The Investor

The lack of diversity in venture capital is no secret. In line with other research, our partner, Different estimates that of the 4,255 decision-making partners at 1,500 US venture capital firms, less than 3% are Black, and diverse management teams make up only 18% of VC firms. Let's be tactical about changing this - "hire, and wire".

02

For The Black Founder

From 2013 -2017, just 1% of VC-backed entrepreneurs were Black, a Rate My Investor study found. It is clear that there are structural barriers founders and funders of color face when building their businesses and raising capital. We compile a list of opportunities for Black Founders (this will be updated on a weekly basis).

02

For The Black Founder

From 2013 -2017, just 1% of VC-backed entrepreneurs were Black, a Rate My Investor study found. It is clear that there are structural barriers founders and funders of color face when building their businesses and raising capital. We compile a list of opportunities for Black Founders (this will be updated on a weekly basis).

03

Other Resources for Continued Education

What we're watching, reading and listening to.

03

Other Resources for Continued Education

What we're watching, reading and listening to.

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