full of silicon valley But that wealth is rarely evenly distributed, especially when we’re talking about the LGBTQ+ community.
It is estimated that less than 1% of venture capital is currently given to openly LGBTQ+ founders. There are no figures on how much of that capital goes specifically to transgender founders, or how many investors identify as part of the LGBTQ+ community. still feel the need to hide their identity from investors.
Join LGBTQ+ VC, a non-profit organization dedicated to promoting LGBTQ+ and LGBTQ+ related venture investors. The nonprofit, founded by Tiana Tux, a black transgender woman who worked at Accenture, Sequoia Capital, and Silicon Valley Bank, and Jackson Block, an early-stage self-identified bisexual investor, We hope to nurture the inclusiveness of new generations. Venture ecosystem by developing and educating investors to advocate and embrace LGBTQ+ founders and funders.
To that end, the LGBT+ VC plans to host networking events, conferences and educational classes for the LGBTQ+ community so they can learn how to become accredited investors. This is one of many steps required to change your mindset and add more intersectionality in your venture paper.
“We are changing who the investors are and who these founders can take a chance with,” Block told TechCrunch+.
“The best investors today are investing in LGBTQ-founded companies,” added Tukes. “Open AI is a prime example of that.
The initiative comes amid a historic wave of hatred directed against the LGBTQ+ community in the United States. Anti-trans laws sweep the country, and crime against the LGBTQ+ community is on the rise nationwide. In fact, Tukes and Block were inspired to start the nonprofit after the Colorado Springs nightclub shooting late last year. Five people were killed in the shooting, which targeted the city’s only LGBTQ+ club.
“It’s been really hard to see the silence in the venture community,” Block told TechCrunch+. “Tiana and I got together and said, ‘Where can we make a difference?'”
As a result, the duo took to the network to assess the current relationship between the LGBTQ+ community and the technology ecosystem. So far, the reception has been warm and the nonprofit has been able to attract investors from several law and accounting firms, as well as banks and large tech firms, Tukes said. increase.
On June 19th and June 20th, the nonprofit held its first summit in New York City, dubbed Stonewall to Silicon Valley. This is all part of a larger mission to change what it means to be a venture capitalist. I recently spoke with two investors about their nonprofit, how it got started, and their plans to build a network of allies.
(Editor’s Note: The interview below has been edited for length and clarity)
What made you decide to start this nonprofit together, and how did you decide now was the time to take a risk?
Jackson Block: Great opportunities are hidden in plain sight. 20% of Gen Z identify as LGBTQ+. Additionally, the LGBTQ+ community is he one of the fastest growing segments of the US population, according to Gallup. It’s a market opportunity.
Tiana Tux: Our mission is to help all lesbian, gay, bisexual, transgender and queer people thrive. There have been moments in U.S. history, especially in the civil rights movement, where black and Jewish leaders were at odds. [Block is Jewish] Gathered in times of crisis for the progress of society. We see this as firstly a continuation of that legacy and secondly part of LGBTQ+ history.
