Le Lézard
Classified in: Business
Subjects: SVY, VEN, LBR, BLK, LGB

Study Reveals Alarming Percentage of Minority Businesses Are Underfunded, Despite Comparable Growth Rate and Higher Profitability


SAN FRANCISCO, Oct. 15, 2019 /PRNewswire/ -- Today, Growth Warrior released the 2019 Warrior Report: State of the Underdog, which examines the current state of the investment landscape. The comprehensive analysis aims to identify solutions for the challenges holding back under-represented entrepreneurs, referred to as Underdogs.

"Our study reveals compelling insights into the state of minority representation in VC and Private Equity funding. Despite growth in minority-owned and led ventures, relative investment remains low," Promise Phelon, CEO of Growth Warrior Capital said. "Our objective is to tell an optimistic story, inform underdogs, and appeal to investors so they work harder to access this community of entrepreneurs."

Women and People of Color Are Founding More Companies

Four out of every 10 businesses in the U.S. are owned or co-owned by women. Furthermore, since 2007, we've seen a 58 percent increase in women-owned businesses. In 2017, there were roughly 1,821 net new companies launched by women, and women of color launched 64 percent of those businesses.

More Investors and Organizations are Supporting LGBTQ Founders

While the total percentage of venture capitalists and angel investors is unknown, many are gaining greater influence within the industry, like Arlan Hamilton of Backstage Capital, David Blumberg of Blumberg Capital, and many others. Likewise, new networks are launching to connect LGBTQ entrepreneurs to investors, including GAINGELS, whose portfolio includes companies such as Hubble, Andie, Perch, ThinkCERCA, and has affiliations with techstars, ALPHA Venture Partners, Sapphire Ventures, and more.

More People of Color are Becoming Venture Capitalists in Existing or New Firms

The percentage of venture capitalists of color is drastically low. Only 22 percent of the entire venture capital workforce identifies as non-white ? which includes investment partners, principals who may become investors, other professionals and administrative staff. What's promising, however, is the increase in investment power for VCs of color. In 2018, roughly $370 million was raised or planned by African American venture capitalists. Additionally, more venture capitalists of color are circumnavigating the traditional firms and launching their own funds, and more organizations are focused specifically on supporting the underdog entrepreneur.

Access and download the full report here: https://thegrowthwarrior.com/state-of-the-underdog-report

About The Growth Warrior

Created by serial CEO and tech investor Promise Phelon in 2018, The Growth Warrior is a mentoring company with a focus on driving underdog entrepreneurial success. The Growth Warrior is a subsidiary of Growth Warrior Capital, a fund that builds, invests, and acquires high potential internet-based companies in lucrative markets, disrupting the status quo. The shared vision is to deliver a proven model for accelerated growth, helping entrepreneurs scale their business, get funded and deliver on breakthrough opportunities.

Growth Warrior is building a tribe of like-minded entrepreneurs, seasoned mentors and a network of tech investors, fundamentally changing the investment landscape. The program provides entrepreneurs with access to exclusive interviews and mastermind series with industry-leading CEOs, venture capitalists, bankers and thought leaders. Resources and tools are published weekly, helping business owners become stronger, clear-minded, and focused on the funding process.

To learn more about the Growth Warrior tribe, visit www.thegrowthwarrior.com.

For inquiries regarding data or analysis presented in this report, please contact hello@thegrowthwarrior.com.

Related Images

women-vc-partners-race.png
Women VC Partners & Race Demographics of VC Workforce
Women and People of Color Are Founding More Companies

10-venture-capital-funds-founded.png
10 Venture Capital Funds Founded By Investors of Color
More People of Color are Becoming Venture Capitalists in Existing or New Firms

SOURCE The Growth Warrior


These press releases may also interest you

at 15:30
KBC (A Yokogawa Company) is extending its Petro-SIM® simulation capabilities through its partnership with OLI Systems, the leader in electrolyte thermodynamics and physical property modeling. The combined software solution will provide the ability to...

at 15:21
The Commission issued its Reasons and Decision on a Motion in the above named matter. A copy of the Reasons and Decision on a Motion dated June 2, 2020 is available at www.osc.gov.on.ca OFFICE OF THE SECRETARYGRACE KNAKOWSKISECRETARY TO THE...

at 15:20
Canadian General Investments, Limited (CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at May 31, 2020 was $35.52, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of -2.8% and...

at 15:00
Kaiser Associates (Washington, DC), a global strategy consulting firm, is pleased to announce a new strategic business partnership with DiliVer (Annapolis, MD), an award-winning financial technology (FinTech) Mergers and Acquisition (M&A)/capital...

at 15:00
As the hunting industry continues to recruit new hunters and promote the conservation efforts of hunters, The American Hunting Lease Association (AHLA) has established itself as the leader in making private land access a reality for thousands of...

at 15:00
Mercury Insurance is urging residents along the Eastern Seaboard and the Gulf of Mexico to take precautions and prepare themselves, their families and property in advance of the Atlantic hurricane season (June 1 until November 30). "Hurricane...



News published on 15 october 2019 at 16:00 and distributed by: