According to data from venture capital (VC) firm Equal Ventures, the current diversity gap within the VC ecosystem is absolutely staggering. According to Equal’s report, an overwhelming 69 percent of venture capitalists are White, while only three percent are Black, and only a little over one percent are Latinx.
The disparate diversity makeup that is being witnessed in VC firms is a perfect illustration of the overall structural, cultural, and systemic challenges facing society today. But as cultural tides continue to turn towards fostering a more equitable and inclusive society, the VC community must also renew its focus on closing the pervasive diversity gaps facing underrepresented peoples within growth equity, private equity, and top tier VC firms.
As Avenue Growth Partners’ Ryan Russell put it at ACG National Capital’s September Monthly Meeting, “There’s no silver bullet to improving inclusion and representation. And it’s going to take a variety of different approaches and perspectives to collectively achieve progress and improvement.”
So what are the long-term structural solutions VC firms should be implementing to eliminate representation gaps within the industry? What is the relationship between racial and economic equity? And what impact has it had on the VC ecosystem as a whole?
To answer these questions, ACG National Capital recently focused their September Monthly Meeting on diversity and inclusivity. The event, entitled, “Show Me the Money: The Diversity Gap in Venture Capital,” examined the current overarching challenges faced by underrepresented minority investors and founders. Topics from the panel discussion included:
• Recent equitable progress, solutions, and growth in the VC ecosystem
• The future outlook of equity, diversity, and inclusion in VC
• How stakeholder allies can play an active role in building a more profitable and equitable ecosystem
• Melissa Bradley, Managing Director, Ureeka, Inc.
• Nasir Qadree, Founder & Managing Partner, Zeal Capital Partners
• Ryan Russell, Co-Founder & Partner, Avenue Growth Partners
• Moderating: Alex Knight, Vice President of Business Development, Cooley
Click the play button below to watch the panel discussion in its entirety:
ACG National Capital’s Next Monthly Meeting
ACG National Capital’s next monthly meeting will take place on Thursday, October 28, featuring special guest speaker David Link, Founder and CEO of ScienceLogic.
ScienceLogic was born from David’s personal conviction to solve some of the most pressing problems facing IT organizations. With firsthand knowledge of customer pain points and the lack of viable competitive landscape, he built ScienceLogic with a clear vision to bring smarter and more management tools to market. Under his leadership, what began as a three-person startup burgeoned into a global enterprise quintupling in size and delivering 30 percent CAGR since 2015.
During the meeting, David will focus on current trends, challenges, and solutions within the IT landscape, as well as share lessons learned throughout ScienceLogic’s impressive growth and expansion since its creation.