across the Venture Capital ecosystem.
The underrepresentation and underfunding of Latinx founders (who receive less than 2% of venture funding) represent a tremendous opportunity to unlock value for our society. Since venture funding is mostly relationship-driven and people tend to surround themselves with and invest in others similar to themselves, remedying the underrepresentation of Latinx venture capitalists is core to seizing this opportunity. That is why LatinxVC, a 501(c)(3) non-profit organization focused on growing and supporting the Latinx venture capital ecosystem, exists, and why I, as a member of this community, co-wrote its Second Annual State of Latinx VCs Report linked below.
Increased representation of Latinx VCs and founders will significantly impact growing the immigrant community in startup land. A third of the approximately 60 million Latinos in the U.S. are foreign-born, and that third accounts for 50% of all immigrants in the country. Since immigrants found 24% of all startups and 55% of unicorns despite making up less than 14% of the population, the increased representation will lead to more innovation and value creation.
Thanks for reading Borderless Disruption! If you like what you read, subscribe for free or share with a friend, to receive new posts every month.