Funds offering ‘friends and family’ checks could bring the change underrepresented founders need
TechCrunch
APRIL 6, 2023
A new white paper by the venture fund Fifth Star put into context how incongruous such statements are: The average friends and family round is $23,000. Black family wealth is $3,630 compared to $79,000 for white families; the average Black founder raises less than around $1,000 from family and friends. The median liquid U.S.
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