The Challenge
According to a 2018 study by Equity Ventures, just 3% of Venture Capitalists are Black. Women make up 15 percent of general partners at venture capital firms, and women-led Startups received just 2.3% of VC funding in 2020. This presents a problem because venture capitalists tend to fund people that look like them. The current demographics of most venture-backed startups should therefore be of no surprise.

Venture capital is an industry reliant upon access — access to the right network, access to the right knowledge, access to the right opportunity. It is no secret that the technology industry, and specifically venture capital, has an extremely low representation of People of Color professionals in technical, leadership, and investing roles.

The situation is equivalent in the Nordics, and lack of investors who are People of Color and Female is prevalent.

If we want to ensure representation, and catalyze the power of diversity to help enable the boldest, most disruptive and impact-oriented founders to solve challenges to reach SDGs by 2030.

This has to change and the time is now. We are here to act.