Laurel Mintz, GP of Fabric VC
It is February, which means it is Black History Month! So this conversation is all around why we need more Black VCs.
Black investors only make up about 3% of the VC industry. And these stats come from BLCK VC, which is an organization, Mandy Bynum, one of our dear friends was a part of for a long, long, long time. In fact, black people make up 12.2% of America. So those stats as you can see really don't match up. This percentage does not even account for how many Black people in VC are non-investors. And even if VCs hire more diverse fund managers, they're still not always investing in diverse-led businesses. So it's this really offensive, frankly trickle down a fact that happens from the top down in venture land. And again, we're here trying to change those statistics. The truth is that Black-founded brands tend to solve better for the Black experience. And that is one of the main reasons why it's so critical that we have more Black VCs investing in Black founders. So that they can solve more for the Black experience.
Again, Happy February, Happy Black History Month, make sure you go out there and support Black-owned businesses. And if you're investing, make sure you do so with a diverse lens.