Black startup founders raised just $187 million in the third quarter • TechCrunch
Amount of capital Raised by black businessmen to decline.
The latest Crunchbase numbers show that Black founders raised $187 million in the third quarter, a staggering drop from about $1.1 billion they received in the third quarter of 2021 and a significant drop from the $594 million the group raised in the second quarter.
Black founders collected only 0.12% of $150.9 billion prevalent in Q3.
Within that, black women raised 49% of the total capital allocated to black founders in the third quarter, according to Crunchbase, with the number coming in at about $91.63 million. To grab the crumbs, it’s good, at least, to see that black men and women seem to be receiving roughly equal amounts of funding this quarter, although the number they split is shocking.
frankly there Homes are worth more of 187 million dollars. Adam Newman raised more in one round of All black founders Can in one quarter. Adele deserves 220 million dollars. However, these numbers are not necessarily surprising. Take Crunch mentioned Investors often fall back into their nets amid an economic downturn, risking less for minorities.
“When the venture capital sector catches a cold, underrepresented founders catch pneumonia.” Tiana Tookes, Investor, Color VC
Perhaps the best example of this is the fact that the capital raised by the Black founders in the third quarter of this year is roughly equal to the $180 million allocated to the group in the third quarter of 2020. However, the black founders were able to raise $187 million from just 32 deals, Compare to 2020, when it took 93 deals to hit $180 million.
In all, black founders raised just over $2 billion in venture capital this year, down a staggering $4.72 allocated in the record-breaking year of 2021.