Authorization

Monique Woodard, one of tech's few black female venture capitalists, says some diversity efforts risk creating a 'separate but equal' mentality :'Black entrepreneurs don't need a separate water...

Monique Woodard, one of tech's few black female venture capitalists, says some diversity efforts risk creating a 'separate but equal' mentality :'Black entrepreneurs don't need a separate water...
Steve Jennings/Getty Images for TechCrunch



The protests raging across the country over the death of George Floyd have resparked conversation surrounding Silicon Valley's own longstanding racial problem.




Black founders and venture partners say that there is a systemic issue of racially-motivated exclusion in the startup ecosystem, citing the fact that 3% of venture capital partners and 1% of startup founders are black.




Monique Woodard, a former partner at 500 Startups who now runs her own fund, laid out her advice for what her well-meaning peers could do to spark change.




"Black entrepreneurs don't need a separate water fountain," Woodard said at a virtual event hosted by BLCK VC."You have to fix the systemic issues in your funds that keep black founders out and keep you from delivering better returns."




Visit Business Insider's homepage for more stories.



The venture capital industry has a dismal track record funding black founders, but a recent flurry of specialized funds devoted to underrepresented entrepreneurs risks creating a segregated startup landscape, according to a prominent VC investor.
As protests rage across the country over the death of George Floyd, numerous venture capital firms have issued statements condemning racial injustice and police brutality. Some have gone further and rolled out new programs.
SoftBank and Andreessen Horowitz, for example, announced new venture and donor-advisory funds this week that will be charged with backing startups founded by African-Americans or people from other under-invested communities.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Июль 2020    »
ПнВтСрЧтПтСбВс
 12345
6789101112
13141516171819
20212223242526
2728293031