Drop In Venture Funding To Black-Founded Startups Greatly Outpaces Market Decline
Editor’s note: This is the first in a two-part series on the state of venture funding to Black-founded startups in the U.S., based on 2023 data from Crunchbase and its Diversity Spotlight feature. Look for Part 2, which will explore funding trends in several major metro areas in the U.S., on Thursday.
Venture funding to Black-founded U.S. startups last year totaled only $705 million — marking the first time since 2016 that the figure failed to even reach $1 billion, Crunchbase data shows.
The de...
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