I held off in writing this, & wrestled with the idea of publishing But when talking to my Black peers within the industry, it became increasingly clear There is a myth about the value of Black people in this community and we need more language around ithttps://hipcityreg.substack.com/p/the-myth-of-blackness-in-venture …
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Replying to @HipCityReg
I’ve often thought that students and alumni should demand that the endowments share numbers + invest in more diverse managers. If the endowments don’t care (despite being tied to higher educational institutions that claim to care), the firms won’t care.
2 replies 2 retweets 27 likes -
Replying to @kimmaicutler @HipCityReg
Also, another hurdle is that GPs have to put down a non-trivial amount of their own wealth into their funds in order to raise from LPs, which given the racial wealth gap, is probably more challenging for non-white fund managers.
3 replies 0 retweets 22 likes -
Replying to @kimmaicutler
100% on both the endowment piece and the problem with "just hire a Black partner" call outs At Penn there were a lot of protests around the endowment divesting from fossil fuels -- had I known at the time about the contributions to LP's, there could have been more convo!
1 reply 0 retweets 5 likes -
Replying to @HipCityReg
there's a lot of bottoms-up pressure from the press and people coming up in the industry, but I doubt it's as effective as top-down pressure from endowments, which (thankfully) are mostly attached to ostensibly mission-driven non-profit institutions.
2 replies 0 retweets 2 likes
Kim-Mai Cutler Retweeted Sequoia
one could go down this list. Does Darren Walker know how many/what % POC managers Ford Foundation's endowment is in?https://twitter.com/sequoia/status/1267479903621939206 …
Kim-Mai Cutler added,
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