However, there are still many gaps remaining, especially when it comes to check size and venture firms' comparative assets under management. VC firms led by underrepresented minorities and those with a diversity thesis were almost twice as likely to back Latinx and women founders , and four times more likely to invest in Black founders. to back , and to invest in Traditional VCs had an average of $335M of assets under management (AUM), far exceeding VC firms led by underrepresented minorities ( $53M ), VC firms with a diversity thesis ( $33M ), or VC firms led by women ( $17M ). The goal seeks to drive 50% of all venture investments to companies led by women, Black, and Latinx founders by 2028 (up from the current level of 30%). PledgeLA is a coalition of more than 215 LA venture capital firms and tech companies working to increase equity, community engagement, and accountability among LA companies.

Source: Forbes August 15, 2023 17:00 UTC