Decline in Investment for Black Entrepreneurs for Three Consecutive Years (2023 Update)
Funding to Black founders was down in 2023 for the third year in a rowBlack founders in the U.S. raised 0.48% of all venture dollars allocated last year.
The past two years saw Black founders raising at least 1%.
Last year, though, suspicions were confirmed as the market cooling really did appear to have an extreme impact on the Black community.
In Q1’23 and Q2’23, Black founders raised 0.74%.
There’s been a consistent yearly decline in funding since the murder of George Floyd in 2020, which saw a record-breaking amount of capital flow to Black founders as the tech industry promised to better support them.
