While history was made in 2021 by finally establishing Juneteenth as a federal holiday, there are still many areas where more progress toward racial equity is needed. The lack of diversity in venture capital, both among VC leaders and those founders who receive financial backing, continues to be a significant problem. African Americans have been boxed out or robbed of wealth, land, and rights for centuries. The current VC landscape reflects the need to extend education, exposure, and opportunity to people from motley backgrounds.
Today, there is an urgent movement to bring more diversity and inclusion into venture capital. Ally Financial (NYSE:ALLY) is sponsoring student-run equity fund, United Growth Fund, in an expansion into Atlanta -- aiming to provide more opportunities for Black and Brown students by introducing them to venture capital.