Here at The Cap Table, our mission is to help more people get (and stay) on the capitalization table.
Historically, equity upside in startups and VC has been reserved predominantly for already-wealthy white males. This has helped create and perpetuate a cycle of inequity in this country.
We stand in solidarity with those protesting for George Floyd, Breonna Taylor, David McAtee, and the countless other black and brown people killed by senseless police violence.
Unequal access to capital and resources is a result of systemic racism that permeates every aspect of our society.
The future will be built by black & brown founders and investors.
Period.
This week, we’re highlighting founders, investors, operators, and sharing resources for people of color and allies to the community.
For non-people-of-color in startups and VC, the time for talk is over. We’re encouraged by some of the efforts this last week to raise awareness and funds, but we’re barely scratching the surface.
We cannot allow this moment to be a flash in the pan; we need systemic change. We promise to listen to and amplify black voices in our community. We promise to continually advocate for change and to hold leaders accountable.
Bookmark this.
Take time to learn.
-TCT Team
A mural of George Floyd in Minneapolis by Xena Goldman, Cadex Herrera, Greta McLain, Niko Alexander, and Pablo Hernandez (via: Grace Ebert / Colossal)
Resources for Black Founders & Operators
- A16Z Talent X Opportunity Fund
- The Black Founder List (US-Based, Venture-Backed)
- BLCK VC - Bringing Together Black VC's and founders.
- Backstage Capital - Backstage Capital has invested over $7M in more than 130 companies led by underrepresented founders.
- DivInc - bridging the gap between underrepresented entrepreneurs and the resources they need to build profitable, high-growth companies,
- Fearless Fund - Fearless Fund invests in women of color led businesses seeking pre-seed, seed level, or series A financing.
- Harlem Capital - focused on investing in minority and women founders in the United States.
- ⚡️ Ultimate list of Professional Online Communities - via Complish
Black Founders to Follow
Web Smith, Founder @ 2PM
Hire the person or wire the investment.
— Web Smith (@web) May 31, 2020
Economics does not come close to solving everything but it solves more than carefully crafted comms or tweet threads.
Hire or wire.
Minda Harts, CEO @ The Memo
Diversity is not a one size fits all approach.
— Minda Harts (@MindaHarts) June 4, 2020
Tristan Walker, Founder & CEO @ Walker & Company Brands
Spoke with @CNBC today about how corporations' needing to step up in the fight for justice with the Black community. https://t.co/95P96ZBiG2
— tristan walker (@tristanwalker) June 4, 2020
Delane Parnell, CEO @ PlayVS
Tweet Not Available
Paul Judge, Ph.D. Cofounder of Pindrop & TechSquare Labs
Surviving America as a person of color gives you the attributes to be the perfect entrepreneur ... grit, perseverance, scrappy, dream big, work hard, refuse to quit even when it feels like the world is against you. https://t.co/hy5coKPVUz
— Paul Judge, Ph.D. (@pauljudge) June 3, 2020
Emerging Black VCs You Should Invest into as an LP
- Ivan Alo, Co-Founder & Managing Partner @ New Age Capital - a seed fund focused on Black and LatinX founders.
- Simeon Iheagwam, Founding Partner @ NOEMIS Ventures - a seed fund with several Black founders in portfolio.
- Jewel Burks Solomon, Co-Founder & Managing Partner @ Collab Capital - a seed fund focused on Black founders.
- Maria Velissaris, Founding Partner @ SteelSky Ventures - a fund focused on women’s health with Black founders in portfolio.
- source: (LinkedIn / Chase Ross Emanuel)
Black Investors to Follow
Aaron Holiday Cofounder & General Partner @ 645 Ventures
I am incredibly proud of my wife @NatashaHoliday for her bravery in telling her story and creating a space at @RBC to have a discussion about Anti-Racism and Allyship. https://t.co/iuQkN7SyOL
— Aaron Holiday (@AHolidayiii) June 3, 2020
Arlan Hamilton Founder @ Backstage Capital
Here’s my statement about who I was referring to in last night’s tweet... (just published my latest episode of Your First Million podcast found across many platforms) 🗣 https://t.co/UfBjZY9rEI
— Arlan 👊🏾 (@ArlanWasHere) June 4, 2020
Earnest Sweat Associate Partner @ GreatPoint Ventures
Powerful words from and insights from @tcburning @MoniqueWoodard @TheValuesVC and others. Worth the watch. https://t.co/lxyx0LxldB
— Earnest Sweat (@EarnestSweat) June 5, 2020
Megan Maloney Principal @ General Catalyst
which black / latinx founders have raised over $10M? Is there a comprehensive list somewhere? would be grateful if people could tag or mention them below
— Megan Maloney (@meganbytes94) June 4, 2020
Elliott Robinson Partner @ Bessemer
This is my @BLCKVC story:
— Elliott Robinson (@TheValuesVC) June 4, 2020
(details)
🇨🇦 Lived in dt Toronto for 4 years, never talked to police ONCE
🇺🇸 This happened to me the SECOND night I moved back to the US. In Palo Alto. Across from Stanford. My wife is a GSB alum...
Love❤️ Blessings🙏🏽 & Strength💪🏽 to the Floyd Family pic.twitter.com/RWoAn3m4sw
Nait Jones, Partner @ Andreessen Horowitz
Tweet Not Available
Brian Brackeen General Partner @ Lightship Capital
A trend I’m seeing. “Pained” SV folks putting out a “What can I do to help” tweet then not responding to a single comment on the thread. Whew. Why do people who care about justice work in Silicon Valley? It’s beyond me. At least in NYC they don’t pretend to care if they don’t. 😂
— Brian Brackeen (@BrianBrackeen) June 1, 2020
Michael Seibel Partner at Y Combinator
If policing in America doesn’t change after this - I have no idea what will make it change.
— Michael Seibel (@mwseibel) June 5, 2020
How to be a Non-Black Ally
As a VC, the obvious answer is to back more black and brown founders and encourage your portfolio companies to hire more black talent.
As a founder or hiring manager, hire more black people.
After that, donate:
- National Lawyers Guild
- Black Votes Matter
- Campaign Zero
- NAACP Legal Defense and Education Fund
- Equal Justice Initiative
- George Floyd Memorial Fund
Read:
- Anti-Racist Resources by Ryan Johnson (curated list, full of comprehensive racial and social justice reform links)
- How George Floyd’s Death Made Racial Violence Real to Me by Josh Johnson
- Race, Discrimination & Social Justice Reading List - open source book list
- Anti-Racist Resources - open source book list
- Death in Black and White - NYT OpEd by Michael Eric Dyson
Watch:
This is just the beginning. We hope this serves as a spark for future change in the startup and VC community.