The venture capital ecosystem is starkly homogeneous.
In 2018, just 3% of VC partners in the US were Black, while 80% were white, according to the NVCA-Deloitte Human Capital Survey, a joint study designed to uncover the state of diversity and inclusion (D&I) across the venture industry.
For years, venture capitalists have faced mounting pressure to diversify their portfolio companies and investment teams with people of color and women. Last year, the conversation reemerged as protests erupted across the US in response to the police killings of several Black Americans. The venture industry, forced to reckon with its own overwhelming lack of diversity, saw an outpouring of support, with some founders vowing to reduce racial disparities in the industry.
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