Adam: Glad to be with you, Spiffy! The Equity Alliance seeks to democratize access to capital by investing in emerging venture capital funds and start-ups led by women and people of color. In short, we invest in diverse investors and company founders. Many of the large companies we know of today (e.g. Google, Meta, Amazon, etc.) started as much smaller companies called start-ups that needed investment to grow. Historically, most of these companies have been founded by, and received investment from, white men. If we are to build an equitable society, it is important that diverse founders have access to funding. Over time, we can change this dynamic by investing in and supporting diverse investors and founders.
Keith: Hi there, Spiffy! Thanks for inviting me. We launched in 2019 with a mission for providing access to capital, networks, and opportunities to African-American founders of high-growth startups in a variety of sectors. We aspire to change the narrative regarding the lack of venture capital that goes to African-American entrepreneurs, as well as close the wealth gap.
Tracey: Thanks for having me, Spiffy! Did you know that founders from some of the largest and highest growth populations have historically been underfunded. As commonly cited, less than 2% of VC funding goes to minority and female founders. However, these communities are driving the US economy forward, and these founders are outperforming the average. As a result, many problems faced by underrepresented communities have gone unsolved, high-potential founders have been underfunded, and significant spending power has been untapped. SoGal Ventures, founded by Pocket Sun and Elizabeth Galbut, is doubling down on the thesis that underrepresented founders, underserved problems, and undercapitalized geographies are the biggest investment opportunity of our time.
