Sumary of Venture Capital: Black Founders Raised Four Times More Capital In The First Half This Year:
- Venture Capital: Black Founders Raised Four Times More Capital In The First Half This Year The George Floyd killing spurred the flow of funds towards Black entrepreneurs.
- According to a Crunchbase report, Black startup founders raised a record $1.8 billion of capital in the first six months of this year.
- His company offers low-cost online legal services to individuals and small businesses and raised $223 million earlier this year.
- In June 2020, Softbank Group set up a $100 million fund earmarked for diverse founders, with corporations such as PayPal (NASDAQ: PYPL) and and eBay (NASDAQ: EBAY) also coming forth with commitments for funding Black entrepreneurs.
- Another factor – VC firms found they were sitting on dry powder without enough founders;
- Funding deals could be struck on Zoom calls or in Clubhouse, a boon for founders on shoestring budgets and unable to travel to the VC’s office.