BLCK VC, in Partnership with SVB and Amazon Web Services, Unveils the Second Inaugural State of Black Venture Report

SAN FRANCISCO. February 22, 2023 /PRNewswire/ -- Today, BLCK VC launched the second edition of its State of Black Venture report. This is a comprehensive analysis of Black investors' participation and progress in the venture industry. "Venture capital is a pillar for innovation and financial growth in the American economy. However, the industry's ability is limited because it fails to tap into the valuable experiences and entrepreneurs of Black investors and entrepreneurs," states Samer Yousif interim CEO of BLCK VC. The rate of equality for Black women in venture remains low. Black women investors make up a large proportion of non-partner-level positions. Only 16.7% of Black women included in the study were in partner roles. The status quo is being disrupted by black junior- and middle-level talent. According to the report, 45% of Black venture capital investors are partners who have received their highest degree from Ivy League universities. Only 26% of these people have degrees from Ivy League universities when looking at mid-level and junior talent. Data shows that although partner-level investors tend to be more Ivy League-representative, there is more diversity among mid- and junior-level talent in terms of university pedigree. Mentorship is key to unlocking the potential of junior Blacks. The diversity of career paths for Black investors revealed more complicated images of the barriers that exist. Black fund managers must focus on investments in the later stages of their investment process. With 28.6% of Black managers having launched their first fund within the past year, this is a growing number. Black fund managers are more likely to invest in early-fund investments that have smaller check sizes. Sydney Sykes, co-founder of BLCK VC, said that BLCK VC aims to break down barriers by enhancing the collective strength and power of the venture community. Companies cannot afford to overlook the valuable skills, perspectives, and talent that Black investors offer. About BLCK VCBLCK VC, a 501(3)(c), non-profit organization created for and by Black Venture Investors, aims to increase the representation of Black entrepreneurs in venture capital today and for future generations. BLCK VC offers the resources and connections necessary to help Black venture capital investors succeed through educational programs, networking opportunities and national chapters. SOURCE BLCK VC