Black cultural icons from Shonda Rhimes to Kevin Durant to Quincy Jones have pooled together nearly $18 million to invest in Andreessen Horwitz’s Cultural Leadership Fund
“I’m pinching myself that this VC fund is actually funding us,” says, one of the organizations selected. Her nonprofit runs a summer intensive program to teach young men of color how to code. Since its launch in 2013, over 440 men have gone through the program, with 95% going on to study at a four-year college and over 80% choosing to major in computer science.
She’s found that often tech companies and venture firms are willing to donate the intellectual capital to groups through offering up speakers or office space, but rarely do they also make donations. “It’s just really powerful when a company does decide to put some money where their mouth is,” she says.
The Cultural Leadership Fund’s approach is a unique one for Silicon Valley. While there are venture funds dedicated to investing in startups founded by people of color or women, the Cultural Leadership Fund decided not to focus on investing in minority groups. Instead, Lyons says, it chose to donate its money to groups that could address the tech diversity problem in different ways., to create a year-round computer science program for its high school students.
The hope is not only to help bring more diverse populations into the tech industry, but also to find them jobs working with the companies backed by the Cultural Leadership Fund. “By working with these nonprofits, we’re now creating a network that we can introduce talent of diverse backgrounds to our portfolio companies,” Lyons says. “Through these organizations that we’re going to be working with, we're creating a new pipeline opportunity.”
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