BLCK VC members including co-founders Frederik Groce and the scout program's mastermind, Sydney Sykes, at center. Called The BLCK VC Scout Network, the program will work with up to 20 scouts over a six month period, twice a year. BLCK VC defines a scout as someone who receives compensation – either cash or carried interest – to source or invest in startups on behalf of a VC firm. Lightspeed Venture PartnersBoth firms had proactively reached out to Sykes and BLCK VC following the death of George Floyd, Sykes says. At BLCK VC, Sykes says she’s not expecting every participant to turn venture capitalist themselves.

Source: Forbes May 11, 2021 15:08 UTC