How Baltimore is working to close the funding gap for founders of color

Companies need capital to grow, and early-stage investors play an influential role in how companies are built. But as recognition increases that the VC system is largely neglecting entrepreneurs of color, a new generation of local funders are building programs and processes with an eye toward inclusion.

First, let’s step back: When it comes to funding diverse entrepreneurs, nationwide statistics show wide disparities: Only 1% of venture-backed founders are Black and only 1.8% are Latinx, according to a 2018 study conducted by RateMyInvestor and DiversityVC.