Despite numerous flaws, the US remains the top spot for Black startup founders seeking VC dollars • TechCrunch
Although, well, everything, the United States remains the best place in the world for Black startup founders to raise capital. Bigger check size, more mature market, bigger ambitions. More funds, more options, more opportunities, more, more.
It’s fairly easy to understand the dismal and often discriminatory funding that Black founders receive in the U.S. Yet through the fog, the reality is that the heart of the American Dream remains. beating.
Eg, Lotanna Ezeikea series founder, said he was looking to raise funds for his new start in the US, despite having raised over $1 million for UK-based finance firm XPO.
“In the UK, thinking tends to be very limited, especially at the seed stage,” he said, adding that a seed in the US is a pre-seed or family circle in the UK. UK
“I think this is because of how small the UK is compared to other regions, so the mind can only dream so big. It’s really a spiral – less wealth, less capital, less ideas to be unicorns.”
Cephas Ndubueze, from Germany, also expressed the same opinion. He said that he still looks to the US to find venture capital funds for his start-up company because there are more success stories of Black founders in America than in Europe, meaning his chances of finding his own way are higher than in Germany.
“I can certainly say that the US is a better environment for Black founders,” he told TechCrunch. “Why? More Diversified Investors in the U.S. More investors are investing in non-traditional businesses. Many institutional investors are offering ticket sizes from $100,000 to $500,000 over the period. ideas, more opportunities to build founder networks, and more investors who have invested in Black founders in the past.”
While the reception of Black founders may seem warmer than in the United States, the numbers suggest more of the same. (France and Germany do do not track race data, though founders and venture capitalists interviewed by TechCrunch have revealed anecdotal evidence of persistent racism in both markets.) The irony results are the ones. founders look to the US for networking opportunities.
