Despite attempts at improvement, venture capital remains an overtly white and male profession even as evidence suggests that diversity can boost the performance of funds and helps find new opportunities.
"The belief we have is that entrepreneurs come from everywhere and they are outliers so looking in the same place for them isn't going to work," Nikita Thakrar, cofounder and director at Included VC, told Business Insider in an interview. In the wake of widespread Black Lives Matter protests, larger businesses in the US and Europe have accepted that lacking diversity in their operations is a pressing issue.
The group is backed by a variety of venture capital funds in London and elsewhere and is now onto its second fellowship. The programme lasts for 12 months and is fully funded for all 40 fellows. For Otitooluwa Dosumu, a fellow from Nigeria now living in Lisbon as part of a PhD programme, being the only black person in the room was nothing new. He believes that greater knowledge about the options available to potential investors can help change things. "There are not many African founders that get VC funding because many [founders] don't know VC exists or how to get that information," he told Business Insider.
"It's so ingrained in people what venture is, venture is not just software and I want to try and change that," she told Business Insider in an interview. "Just because it's not an app doesn't mean it's not a venture company."
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