The entire venture capital industry has only 1.3% of women or POC (people of color) asset managers controlling over $70 trillion in assets under management in the U.S. alone. The inaugural VCI fellowship, launched in February this year, is a nine-month training program focused on BIPOC fund managers in the U.S raising between $25-55 million. Later this year, the project will address the limited numbers of Black and Brown asset managers in the climate and cleantech with its Initiative for Diverse Climate Fund Managers. This happens even for fund managers who do not explicitly speak to “diversity and inclusion” in their strategy. That’s why the future of venture capital is BIPOC and women-led,” Robinson concludes.

Source: Forbes May 28, 2021 09:00 UTC