Today, BLCK VC, a 501(c)(3) nonprofit organization dedicated to increasing representation of Black investors in venture capital, launched the second edition of the State of Black Venture report, a leading analysis of how Black investors are participating and progressing in the venture ecosystem. Developed in partnership with SVB and Amazon Web Services (AWS), the report emphasizes discrepancies in access to funds and tracks partner- and non-partner-level representation of Black investors.
“Venture capital is a pillar of innovation and financial growth for the American economy, but the industry’s ability to transform the business landscape is inhibited because it fails to tap the valuable experiences of Black investors and entrepreneurs,” says Samer Yousif, interim CEO at BLCK VC. “The release of the second edition of BLCK VC’s report shares actionable steps the industry can take to galvanize change and break down systemic barriers.”
This edition of the report highlights Black women’s disproportionate under-representation in the industry, expands BLCK VC’s examination of the Black venture ecosystem to incorporate junior to mid-level talent, exposes the adverse impacts of the industry’s homogeneity on decision-making and financial returns, and provides actionable guidance on how stakeholders can collaborate to build an equitable and inclusive ecosystem.
“By enhancing the collective strength of the venture community, BLCK VC works toward breaking down obstacles,” says Sydney Sykes, Co-founder of BLCK VC. “Companies cannot afford to miss the valuable talent, skills, and perspectives that Black investors bring. It’s time to invest in the current and emerging pipeline of Black venture capital leaders and their ideas by supporting their fundraising efforts and empowering them to make more investment decisions.”
Data from this report was obtained through a survey of 225 Black investors at various stages in their careers through an independent review of Crunchbase data and BLCK VC’s proprietary databases.
Download the full edition to learn more about BLCK VC’s findings for the 2023 State of Black Venture Report here.
About BLCK VC
BLCK VC is a 501(3)(c) non-profit organization built for and by Black venture investors dedicated to increasing the representation of Black investors within venture capital now and for generations to come. Through educational programs, networking opportunities, and national chapters, BLCK VC provides the tools and connections to accelerate the careers of Black investors in venture capital. When venture capital mirrors the diverse demographics of the U.S., all communities benefit from the wealth created by technology built for the world.