TLDR:
– Black and Brown companies, as well as women-led companies, are underfunded in the venture capital world.
– This panel at ForbesBLK Summit 2024 will discuss how entrepreneurs can attract future capital.
During the ForbesBLK Summit 2024, a panel featuring Bukie Adebo Umeano from Anthemis Group, Michael Proman from Scrum Ventures, Derek Smith from Plug In Ventures, and moderated by Ali Jackson-Jolley from Forbes, tackled the issue of underfunding for Black and Brown companies and women-led businesses in the venture capital industry. The panel highlighted the fact that these companies receive less than 1% of venture capital funds over the last decade, emphasizing the need for change in the investment landscape.
Bukie Adebo Umeano, an Investment Principal at Anthemis Group, shared insights on how entrepreneurs can position themselves to attract attention from investors. She emphasized the importance of building strong relationships, demonstrating market traction, and showcasing a solid business strategy. Michael Proman, Managing Director & Partner at Scrum Ventures, echoed these sentiments and added that having a clear and compelling narrative is key to capturing investor interest.
Derek Smith, the Founder & CEO of Plug In Ventures, highlighted the need for diversity and inclusion in the investment community. He stressed the importance of breaking down barriers and creating opportunities for underrepresented entrepreneurs to access capital. The panel concluded that by addressing systemic biases and promoting diversity, the venture capital industry can become more equitable and support a broader range of entrepreneurs.
The discussion at ForbesBLK Summit 2024 provided valuable insights for entrepreneurs looking to raise capital and highlighted the importance of addressing diversity and inclusion in the investment ecosystem. By bringing attention to the funding disparities facing Black and Brown companies and women-led businesses, the panel shed light on the need for systemic changes to create a more inclusive and equitable investment landscape.
