According to the National Venture Capital Association, 80% of investment partners at venture capital (VC) firms are white, compared to 3% Black and 3% Latinx. This has large implications for the entire startup ecosystem. Research by MaC Venture Capital and the Kauffman Fellows shows that 70–80% of venture rounds go to companies with White Founding Teams. The same research shows strong evidence of a clear selection bias when it comes to capital allocation: the diversity of our VC teams are affecting the diversity of successful founders. VCs have the power to change this story.
Since the inception of Dorm Room Fund in 2012, we’ve had 250+ student investors join our family, all of whom have gone on to do awesome things in the entrepreneurial ecosystem. About 30% of our partners launch careers in the VC world after graduation, taking on investment roles at places like Bain Capital Ventures, Bessemer, BoxGroup, PayPal Ventures, First Round Capital and Kleiner Perkins. Some DRF alumni have even started their own venture funds!
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