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May 27, 2021 You’re reading a Quartz member-exclusive story, available to all readers for a limited time. To unlock access to all of Quartz become a member. For startup founders looking to make their dream business a reality, there’s never been a better time to look for funding. Venture capital spending soared to a record $131 billion in 2018, according to PitchBook and the National Venture Capital Association. The year saw blockbuster IPOs for Spotify, Dropbox and ADT. In the years since, the funds have continued to flow. Yet amid all this wealth creation, the breathless headlines, the monumental achievements of American innovation, a Deloitte study reports that just 3% of venture capitalists identified as Black or Latino in 2018, the most recent year for which data are available. Barely 1% of VC funding that year went toward Black or brown entrepreneurs.

United statesKeshia knight pulliumAyana parsonsGeorge floydArian simoneHenri pierre jacquesTaj ahmad eldridgeSimeon iheagwamJustine dawkinsJewel burksMac conwellNational venture capital associationClean energy at include venture partnersMovement for blackFearless fundNational venture capital