Over 80% of US venture capital firms don’t have a black investor. And so BLCK VC has been launched to connect, engage and advance black venture capitalists, reports TechCrunch.
“We want to make firms reckon with the fact that there is a racial diversity problem; there is a lack of black VCs and every firm should really care about it,” NEA associate Sydney Sykes, who is behind the initiative, says.
He adds, “As VC has grown, a lot of the people who started it hired people they knew, there wasn’t an effort to recruit from outside of their network. That has made VC this very homogenous industry.”