Posts Tagged ‘VC’

Guess How Many Venture Capitalists Are Black or Latino

Wednesday, November 23rd, 2011

(Gawker.com) The National Venture Capital Association has completed its 2011 census. Now we all know the business of doling out money to tech startups is a pasty one—right? we're all clear on this, yes?—but the association this year trumpets "signs of increasing ethnic diversity." So, take a wild guess at the combined percentage of blacks and Latinos among venture capitalists.

Did you guess two percent? If so, congratulations, you win another several decades of continued de facto exclusion and OMG HOW DARE YOU CALL ME A RACIST push back. After surveying 600 VC professionals, NVCA found the industry to be 87 percent white, 9 percent Asian, and 2 percent black or Latino. The low numbers of blacks and Latinos apparently precluded even breaking out separate tallies, even though these are the two largest U.S. ethnic groups after whites, constituting 16 and 12 percent of the overall national population, respectively.

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Guess How Many Venture Capitalists Are Black or Latino

War of words breaks out over Silicon Valley diversity debate

Saturday, October 29th, 2011

(CNN) Weeks ahead of the premiere of a CNN documentary focusing on diversity in the tech industry, the charged issue is already generating sparks. A heated debate broke out on Twitter Wednesday night after a preview screening of Black in America 4.

Blogger-turned-investor Michael Arrington ignited a controversy with his comments about the visibility of minority-led companies. In the documentary, which airs November 13, Arrington talked about his difficulties finding African-American entrepreneurs to launch their ventures at his TechCrunch Disrupt conference — and suggested he would accept almost any black entrepreneur, regardless of merit.

"There's a guy, actually, his last company just launched at our event, and he's African-American. When he asked to launch — actually, I think it was the other way around. I think I begged him," Arrington told CNN's Soledad O'Brien.

"His startup's really cool. But he could've launched a clown show on stage, and I would've put him up there, absolutely," Arrington said. "I think it's the first time we've had an African-American [be] the sole founder."

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War of words breaks out over Silicon Valley diversity debate
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