Business as usual. For some, this is a welcome relief. On the contrary, for many underrepresented founders, when VCs utter that phrase, it’s not always welcome news. Venture capital funding bias is a very real, and very big problem in tech.
Quite candidly, as a first-generation immigrant and woman working with startups for over a decade, it’s very hard to overlook the fact that in 2020 women and people of color continue to be in the large minority when it comes to receiving VC (venture capital) funding and support.
This must change.
Bias in VC funding: Breaking down the stats
Don’t just take my word for it – let’s look at the numbers.
According to Pitchbook, “While overall US venture capital investments in 2020 are on par with previous years […] Investments in women-led companies this year are on pace to be the worst since 2017.” When it comes to black founders, VC performance in Q3 2020 was just as bleak.