The reality is that VCs are genuinely inclined to fund black founders since their funds are overwhelmingly old white men.
This is an industry that cares a lot about not generating controversy. VCs got hit hard by Me Too- Lightspeed, Kleiner, Binary, Sherpa, 500 Startups, and others all imploded or let people go due to allegations of sexism.
It's a Partner based business where, in general, they rarely hire a new senior Partner and cut them in on the carry.
Investing in black founders and hiring minority junior VCs ends up being the easiest way to brand themselves as racially equitable.
I think it isn't just as simple as wanting to fund black founders. If you do not understand how systems work and actively fix them, you are unlikely to be helpful to black founders.
This is an industry that cares a lot about not generating controversy. VCs got hit hard by Me Too- Lightspeed, Kleiner, Binary, Sherpa, 500 Startups, and others all imploded or let people go due to allegations of sexism.
It's a Partner based business where, in general, they rarely hire a new senior Partner and cut them in on the carry. Investing in black founders and hiring minority junior VCs ends up being the easiest way to brand themselves as racially equitable.