Tech has actually dropped the ball. For a market that holds so much power, and prides itself on leading the curve, the variety of venture capital and amongst tech entrepreneurs leaves a lot to be preferred. More than 80% of VC firms don’t have a single black partner. It’s not a surprise, then, that the huge, large majority of endeavor funding comes from white males to white guys.
This is why we’re thrilled to sit down for a chat with Sydney Sykes, co-founder of BLCK VC, a community by and for Black VCs. You can join this Zoom webinar and ask your own questions, or tune in for the live broadcast on YouTube. The episode airs at 1pm ET/10am PT on Thursday, June 11th.
Sykes graduated from Harvard University in 2016 with an A.B. in Psychology and a secondary in Economics, where she acted as president of the Harvard Undergrad Women and Company, the largest undergrad service org at the university. She held positions at Pandemic Labs, Saying Ltd., the Massachusetts Dept. of Transport and the Federal Reserve Bank of Boston.
In 2016, Sykes joined New Enterprise Associates as the very first analyst on the tech team in Menlo Park, with a focus on consumer financial investments, especially zeroed in on the mobile area. After more than two years in venture, Sykes relocated to the operations side and operates at a style start-up in SF while continuing to co-lead BLCK VC. Sykes started BLCK VC alongside Frederik Groce in 2018, with the objective to increase the variety of Black financiers in tech. Particularly, BLCK VC wants to go from 200 Black financiers to 400 Black financiers by 2024.
The company does this by providing resources for VCs and financiers looking to navigate the market, along with online forums for communication among Black investors and the wider VC neighborhood to tackle their variety and inclusion efforts head on.
BLCK VC held a “We Won’t Wait”day of action on June 4, prompting VC companies to go over the continuous demonstrations and show their portfolio companies and teams how they’ll react, as well as to donate to companies that are fostering change and look hard at their own diversity and strategize on how to improve.
Sykes likewise composed a post this week on the steps firms can take to in fact make a difference, consisting of having sincere, inclusive discussions about variety, contributing to companies that are developing change and diversifying their skill and pipeline.
We’ll chat with Sykes about the short and long-lasting techniques that VC firms can utilize to end up being more varied, hear her thoughts on funds that focus on underserved creators like a16z’s donor-advised TxO fund and SoftBank’s$100 million Opportunity Growth Fund, and sign in on how’We Will not Wait’went. Audience members can also ask their own concerns. We’re making this episode of Extra Crunch Live complimentary to take part in or view later due to the fact that we think this is a crucial discussion to have. We hope to see you there! You
can include the details of the call straight to your calendar with this link. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.