Monique Woodard, one of tech's few black female venture capitalists, says some diversity efforts risk creating a 'separate but equal' mentality :'Black entrepreneurs don't need a separate water founta
Black founders and venture partners say that there is a systemic issue of racially-motivated exclusion in the startup ecosystem, citing the fact that 3% of venture capital partners and 1% of startup founders are black.
"Black entrepreneurs don't need a separate water fountain," Woodard said at a virtual event hosted by BLCK VC.
"You have to fix the systemic issues in your funds that keep black founders out and keep you from delivering better returns."
As protests rage across the country over the death of George Floyd, numerous venture capital firms have issued statements condemning racial injustice and police brutality.
Venture capitalists opening up their calendars for office hours with black founders should also be ready to offer more than their time, Woodard added.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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