Black, Latinx and female entrepreneurs are still ignored by most venture capitalists

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'But for many entrepreneurs of color and women of all races, venture funding remains a mostly impenetrable barrier to success.'

led by partner Nait Jones, for entrepreneurs from underserved communities “who have the talent, drive and ideas to build great businesses but lack the typical background and resources to do so.”

“One of the root cause problems is logistics, and the tremendous amount of friction that exists in moving goods between African countries and to and from the continent in general. We felt that the best way to be involved, touching all of the pieces of trade, was to create be a digital clearance and forwarding company,” he said.

“To have an entire partnership group who was comfortable with Africa was a night-and-day feeling,” Este-McDonald said. “We were hearing actual startup-type questions, like ‘What are you going to do with the money?’ They were open to our ideas.”Lori Shao was another entrepreneur who couldn’t find venture funding for her Los Angeles startup, Finli, which she hoped would free up daycare operators, martial arts establishments, tutors, afterschool programs and the like from the drudgery of paperwork.

 

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