Diversity Portal Report: Tell Me More About Diverse Founders (Harlem Capital)

Summary

• The report filters 300+ respondents down to 261 US based founders.p.3
• African Americans represent 67% of the respondents, and the split is close between men (55%) and women (45%).p.3
• Founders come from 28 states and the top 5 states represent 66%.p.4
• Only 11% of the companies are older than 5 years and 53% are younger than 2 years.p.5
• The top 3 sectors of Consumer Products & Services, Software, and Media & Entertainment were 61%.p.6
• Only 11% of the companies have raised at least a SEED round.p.8

Key insights

1. 50% of founders come from NY and CA, which is on par with the 57% in SEED stage funding.p.4
2. 58% of the companies had revenue in 2016.p.7
3. Only 13 companies had $250K+ of revenue.p.7
4. There are 14% more pre-revenue men founders, yet 11% more women founders that have not raised yet.p.8
5. The average VC-backed SEED stage company is 2.3 years old.p.5