Black start-up entrepreneurs are gaining venture capital funding at banner levels.
Black founders raised $400 million in the first six months of 2020, based on a report by tech research firm Crunchbase, and are already exceeding full-year funding totals for both 2020 and 2019, when they raised $1 billion and $1.4 billion, respectively. Startups raising Series A and B rounds have fueled much of the funding growth this year.
Interestingly, three Black venture capitalists are not only disrupting the landscape but also helping to change it. They include Jarrid Tingle, co-founder and managing partner of Harlem Capital; Marlon Nichols, managing general partner at MaC Venture Capital; and Austin Clements, partner at Slauson & Co. They aim to help provide Black founders more dollars and ensure they have the suitable resources and direction to flourish.
He was able to launch RareBreed in September 2020, benefitting from greater interest in startups by investors. While progress has been made for his firm and others, Conwell declares more needs to be done, adding “it’s disheartening, because this is what it took for this to happen.”
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