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The data tell the story: Less than 1% of venture capital in the United States is invested in companies led by Black entrepreneurs. Add "female" as a data filter and it drops to 0.2%. Amid reckoning with legacies of racial injustice, we wanted to examine how a lack of representation in the startup ecosystem hinders access to capital for diverse founders. Brown Advisory’s Keith Stone sits down with three thought leaders in the venture industry—Charles Hudson, Richard Kerby and Monique Woodard—to explore paths to a growth economy where an expanded set of innovators and ideas can thrive.

Guests:

• Charles Hudson, Founder & Managing Partner, Precursor Ventures     
• Monique Woodard, Founder, Cake Ventures
• Richard Kerby, Co-founder & General Partner, Equal Ventures 

Host:
Keith Stone, CAIA
Private Equity Analyst, Brown Advisory

Background Reading: 

• A VC’s Guide to Investing in Black Founders, Harvard Business Review, June 19, 2020
• Precursor Ventures’ Charles Hudson on ‘the conversation no one has during an upmarket’, TechCrunch (subscription), April 24, 2020
• The Black Founder List, February 28, 2020
• Cities Using Capital to Build More Inclusive Ecosystems, November 6, 2019
• Where Black Female Founders Can Find Funding, Resources, and More, September 22, 2019
• Where Did You Go to School?, July 30, 2018

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The views expressed are those of the author and Brown Advisory as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. Past performance is not a guarantee of future performance, and you may not get back the amount invested. The information provided in this material is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy and is not a complete summary or statement of all available data. This piece is intended solely for our clients and prospective clients, is for informational purposes only and is not individually tailored for or directed to any particular client or prospective client.