- Source link: https://ker.by/why-are-there-so-few-black-investors-ef8eb9ccbe8a
- TL;DR: Since the VC industry often operates as an “old boys’ club,” it is very difficult for anyone that isn’t a white male to break into the industry
- How helpful?: 4/5
- Topic Tags: ethnicity, demographics, diversity
- Why are there so few African Americans in the VC industry?
- Tech industry suffers from a lack of diversity, which limits innovation
- roughly 2% of the employees at Google, Facebook, Pinterest, LinkedIn and Yahoo are black.
- NVCA (VC industry trade group) recently acknowledged the lack of diversity and formed an (all-white) task force to tackle the issue
- Since VC often functions as an old boys club, most African-American entrepreneurs lack connections to investors who have access to funds
- Increasing the representation of African Americans in Silicon Valley requires deliberate effort, especially considering the closed-circuit old boys’ club nature of the VC industry