Diverse Founder Report 2018 (Harlem Capital)

Summary

• 105 US based startups founded by Black and Latino founders have raised $1mm+ of venture capital funding.p.2
• The 105 companies raised $2.7bn of capital; the top 3 raises represent $1.5bn or 55% and the median raise is $3mm.p.3
• Women represent 54% of founders, but only 40% of capital raised, receiving 3.6x less per median deal.p.3
• 50% of the companies' latest funding was a Seed round, but 13% have been acquired or gone public.p.3
• Software, e-commerce, media & entertainment and healthcare represent 52% of companies, but only 32% of capital raised.p.3
• New York, San Francisco and Los Angeles represent $2.2bn or 82% of capital raised.p.3

Key insights

1. The top 10 largest raises represent $2.1bn or 76.3% of capital raised.p.9
2. Robert Reffkin raised $808.0 and Jessica Alba $503.0, the two largest raises (dollars in millions).p.9
3. African American men represent 57% of capital raised.p.5
4. NY & SF represent 62% of companies and NY, SF & LA represent 82% of capital.p.7
5. The average company was founded in 2013 and the companies founded in 2012 represent 57% of capital raised.p.8