“Having that emotional support is almost equally as important as having that network that can help you get those jobs and deals.”
The event was organized by, a non-profit co-founded in 2018 by Sydney Sykes and Frederik Groce to support Black investors.
And, one of the bigger things is that most jobs in venture are not posted online. It’s very much a word of mouth way of recruiting. You won’t hear a lot about a formal process, it’s sort of like, “This firm has an opening.” So if you want to get into venture, or if you want to move around within venture, you need to have very strong network. Otherwise you won’t hear about the shops.
In another sense, it’s also about the loneliness that comes with being a minority in a very exclusive space, which is its own challenge. Having that emotional support is almost equally as important as having that network that can help you get those jobs and deals.You have this triangle: At the top of everything is the limited partners and the high net worth individuals who give money to venture capital funds.
The general partners are really the ones who have the real check-writing power to control who they invest in, to decide what companies get money, and to drive change within the companies below them. GPs help entrepreneurs think about what is important in driving a strong business, and I personally think diversity is a big part of that.
That’s why you can drive a lot more change at the LP level than you can at the VC level or the entrepreneur level.I think you can really see the power of employees right now. We’re all in a transition process so we’ll see what happens a week from now or a month from now, but you see employees getting angry and talking back and saying — no matter what the size of the company — “You don’t do enough for diversity.
There’s a lot of talk about diversity that turns out to be just fluff. How can entrepreneurs make a substantive impact through leadership?
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