As corporate America's embrace of diversity and inclusion — ignited by racial tensions laid bare in 2020 — is being quietly walked back, venture capital support for startups founded by people of color hascalls the initial wave of commitments birthed by 2020's turmoil "just pure talk" in a recent interview with Axios.
Claure, a Bolivian American entrepreneur and investor, cites his own early experience struggling to raise capital as easily as white founders did.The portfolio, whose main focus is software startups, still stands at 75 companies. The fund's investment sweet spot is Series A rounds, usually putting in a check of $3 million to $5 million.
It's also funded dozens of seed-round companies, with the average investment in that segment between $750k to $1 million, per Judge.: "This is not charity or philanthropy; this is a fund that will deliver great returns," Claure tells Axios. In doing so, "we're going to prove … that Black and Hispanic entrepreneurs are as good as anybody else.… That's what makes us different."Not everyone is walking away from their commitment to DEI."This is not a problem you solve on Day 1; this is a process," Claure tells Axios. "The more Black and Hispanic entrepreneurs we fund, the more they become an example for others.
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