These gains come even as Latinos and other people of color remain deeply underrepresented in the VC world.
Share on linkedin Investments from Latino and Latina-led venture capital firms contributed to the creation of an estimated 51,600 jobs last year, according to a
Last year, Latinos and Latinas represented 1.6% of all investment professionals in larger U.S. firms, or those managing more than $100 million in assets, according to the new report from SomosVC, a nonprofit pushing for greater representation. Out of more than 560 large firms analyzed in the report, only 26 employ more than one Latino or Latina investor.The job creation estimate speaks to the Latino community's impact despite its low VC representation, says Mariela Salas, the executive director of SomosVC.
"Part of our community's entrepreneurial spirit comes from having a different lens, making us open to exploring paths and exploring opportunities that would otherwise be overlooked," Salas says.Groups like SomosVC and Latinas in Tech have fellowships to increase representation in the tech industry and mentorships to foster retention.
"Ultimately what we want to do is increase the assets under management for everyone," Salas says, referring to hopes of making the 1.6% figure grow.Share on twitter
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