Nevertheless, well, all, the United States remains the best place for black startup founders to raise money. Check sizes will grow, markets will become more mature, and ambition will grow. More funds, more options, more opportunities, more opportunities.
It’s all too easy to talk about the miserable funding and often discriminatory treatment black founders receive in the US.
for example, Rotanna Ezeikethe serial founder is considering funding for his new startup in the US, even though he raised over $1 million for his UK-based fintech, XPO. He said that he was
“Thinking tends to be very limited in the UK, especially at the seed stage.”
“I think this is because the UK is small compared to the rest of the world, so the mind can only dream big. It’s really a spiral — less wealth, less capital, less ideas of being a unicorn. increase.”
Cephas Ndubueze from Germany expressed a similar sentiment. He says he still relies on America for his ventures and funding for startups because America has more success stories for black founders than Europe and they are more likely to find their way than Germany. Told.
“I can assure you that the US is a better environment for black founders,” he told TechCrunch. “Why? US Investor Diversification More investors are investing in nontraditional businesses. More institutional investors offering ticket sizes from $100,000 to $500,000 at the idea stage, founder networks There are more opportunities to build , and more investors who have invested in Black founders in the past.”
The reception of black founders in the US may look positive, but the numbers tell a lot as well. (France and Germany don’t track racial data, but founders and venture capitalists interviewed by TechCrunch revealed anecdotal evidence of persistent racism in both markets.) Ironic As a result, founders are turning to the US for networking opportunities.