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Funding for all women Founding teams are stagnating, capital invested in Black founders is declining, and growing awareness of these issues has moved beyond the era of thinking long term; The next step in the fight for venture equity is now at the policy level.
Concurrently, lawsuits against helping more marginalized founders raise capital are moving through the courts, while new legislation has also been passed to help underrepresented talent. The tension between legal efforts to block efforts to invest more in Black founders and women and efforts to legislate greater support for those individuals is a struggle between two directions for the nation as it moves forward from its racist and sexist past. Works for.
“Entrepreneurship is at a crossroads right now,” Imani Augustus, director of entrepreneurial equity at the think tank Third Way, told me. “There has been a move towards weaponizing any aid to disadvantaged communities by being overly ‘woke’, but this effort on the right fails to appreciate that we should not be taking away opportunities in the country – We should expand it.”
The law shapes the facts on the ground in this country, even if the opinions of the general public disagree. That’s why, after years of calls, protests and no change, some diverse fund managers tell me this is the last option, that equity won’t come through mere goodwill gestures; Now it must be approved in the courts.
