If you're a Black or Latinx founder looking to get your idea off the ground, now is a great time to go for it. Calls for diversity, equity, and inclusion have never been louder — including in business and the startup world. Several companies and tech leaders are investing money in programs aimed at advancing Black, Latinx, and other underrepresented groups in entrepreneurship.
And while many Americans are working remotely right now, it's important to know where venture capitalists investing in Black and Latinx founders are located. This can help you prioritize where to work, live, travel to, or network once the pandemic lifts.
Analysts at business and startup information hub Crunchbase combed through funding information between 2015 and August 2020 to find out.
Here are the top 10 metro areas where Black and Latinx founders have secured the most funding from the start of 2015 to August 2020.
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10. Venture capitalists in the Chicago metro area committed about $167 million.
In the greater Chicago area, Techstars was the biggest investor.
9. Venture capitalists in the Miami area committed about $195 million.
In the greater Miami area Miami Angels, New World Angels, and Backstage Capital lead funding.
8. Venture capitalists in the Denver area committed about $231 million.
In the greater Denver area Bessemer Venture Partners was the biggest investor.
7. Venture capitalists in the Washington DC area committed $300 million.
In the Washington DC area investors TEDCO and the Dingman Center for Entrepreneurship lead.
6. Venture capitalists in the Atlanta area committed $400 million.
Leading investors in the Atlanta area include: Right Side Capital Management, Boomtown Accelerators, Zane Venture Fund, Y Combinator, and Valor Ventures.
5. Venture capitalists in the Seattle area committed $800 million.
For the greater Seattle Area Trinity Ventures and Madrona Venture Group lead.
4. Venture capitalists in the Los Angeles area committed $1 billion. A
Leading investors in the Greater Los Angeles area include MaC Venture Capital, Y Combinator, Backstage Capital, Upfront Ventures, Techstars, Quake Capital Partners and 500 Startups.
3. Venture capitalists in the Boston area committed $2.3 billion.
In the greater Boston area Y Combinator, Right Side Capital Management, The Engine, and Techstars Boston Accelerator lead investing.
2. Venture capitalists in the New York City area committed $4.4 billion.
Leading investors in the New York City area include: Y Combinator, Techstars, Newark Venture Partners, Entrepreneurs Roundtable Accelerator, Quake Capital Partners, Precursor Ventures, Founders Fund, Lerer Hippeau, and BBG Ventures.
1. Venture capitalists in the San Francisco Bay area committed $4.6 billion.
Leading investors in the San Francisco Bay area include: Y Combinator, 500 Startups, Precursor Ventures, Kapor Capital, Ulu Ventures, MaC Venture Club, and FundersClub.