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Black founders raised 0.13% of all capital allocated to U.S. startups in Q3, according to Crunchbase. There seems to have been an overall dip in venture capital funding this Q3, but, as we’ve covered, funding to Black founders has been consistently declining since 2020. "Unfortunately, the venture industry is moving in the wrong direction here,” Gené Teare, the senior data editor at Crunchbase, told TechCrunch.
Given the disproportionate amount of capital flowing in established economies, and the urgency of climate adaptation and resilience, the time to move money in this direction is now.