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Showing posts with the label Black people

List of Black Women who work for venture capitalists

The following lists some of the Black women working for VC firms. While we think this is a good sign, remember - the problem is with the VC model itself, not with the color or gender of the people who populate the firms. You're still not going to be able to get money from these firms unless you fit the demographic they prefer. See: Small Business Financing, Black People and Venture Capital Black Woman VCs (click on their name to be taken to their Crunchbase profile...or look them up on LinkedIn.) Jacqueline Grant Principal, Abingworth Karen Kerr Executive Managing Director GE Ventures Nicole Walker Partner, Venture Capital – Healthcare Baird Capital Candice Matthews Co-Founder and Executive Director Hillman Accelerator Tracy Gray Founder and Managing Partner The 22 Fund Abyah Wynn Co-founder and Managing Director Twenty65 Fund Monique Idlett-Mosley Managing Partner Reign Ventures Erica Duignan Minnihan Founding Partner 1000 Angels and Re

Feedback on “How to Finance a Black Women-owned Business in 2018”

We recently held a series of webinars designed “to help black women business owners discover various ways to land capital.” The webinars, titled, “How to Finance a Black Women-owned Business in 2018” were held on July 18th, August 10th and August 24th. The feedback from the webinars is good. Eighty five percent (85%) of the respondents to our customer satisfaction survey found the webinar useful. Seventy one percent (71%) rated the webinar excellent. Of the forty or so women on the webinar (and they were all women) forty two percent (42%) have just started looking for business financing. Fourteen percent (14%) have been looking for business financing over the past one to six months, and twenty eight percent (28%) have been looking over the past six to twelve months. Fourteen percent (14%) have not attempted to get financing yet, but are simply exploring options. This dovetails with the recent efforts we have observed in this sector. T

Black People and Venture Capital

I recently gave a talk at the 2015 National Black MBA Association Washington DC Chapter (NBMBAA-DC) Entrepreneurship Expo. My talk, titled “Black People and Venture Capital” available below. I started with a discussion of  the  key financial institution in the country, the Federal Reserve, which controls the allocation of capital via monetary policy, the tools used to control the supply of money. The Fed is located at 20th Street and Constitution Avenue N.W. and I encouraged DC entrepreneurs to visit the institution, since the Fed directly impacts the ability of small businesses to get capital. I also encouraged Black businesses in DC to use the recently established Offices of Minority and Women Inclusion as a powerful potential source of capital and contracts. Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a provision creating an Office of Minority and Women Inclusion (OMWI) responsible for monitoring diversity efforts at the agencies, re

'Minority' Bank Designation Has Become Meaningless

We note with interest the designation of Urban Partnership Bank as a Minority Depository Institution. According to Crain’s Chicago Business, “The $1 billion-asset bank based on Chicago's South Side (formerly South Shore Bank) is officially a minority lender despite an ownership dominated by Wall Street giants like Goldman Sachs Group Inc. and J.P. Morgan Chase & Co.” ( http://www.chicagobusiness.com/article/20130611/NEWS01/130619972/wall-street-owned-urban-partnership-bank-officially-a-minority-bank ) A Minority Depository Institution, as defined by Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA"), used to be a bank in which 51% or more of the common stock was owned by one or more members of the following groups: Black American, Asian American, Hispanic American, or Native American . The threshold now for MDI designation is a bank that meets one or more of the following standards: 1.        51% or