Many of you might know there is a disparity of capital, support, and resources for intersectional groups within the DEI-focused impact space.
Intersectional Ventures exists to address the significant disparities in capital, support, and resources faced by intersectional groups within the Diversity, Equity, and Inclusion (DEI) focused impact space. Despite educational achievements, women, particularly those of color, continue to face obstacles in leadership, compensation, and advancement.
According to the Public Policy Institute, in every ethnic group, women are more likely to have a college degree with Latina and Black women ages 22–26 almost twice as likely to have earned a bachelor’s degree as men of the same race/ethnicity. Despite outpacing men in college degree attainment, they still lag behind in career progression.
These disparities are evident in income inequality, where women generally earn 80 cents for every dollar men earn, with Black women earning 64 cents and Latina women earning 54 cents. The gender and racial pay gap persists throughout career growth, with women of color severely underrepresented at the executive level, holding just 13 percent of C-suite roles in 2021, as reported by McKinsey.
In response to these challenges, many intersectional individuals are turning to entrepreneurship to take control of their professional lives and reach their full potential. However, the entrepreneurial landscape is not without its challenges. Despite their competence, securing capital and clients is systematically rigged against women of color. Less than 1% of equity capital is allocated to women of color, and fewer than 10% of startups that receive seed funding go on to raise capital in Series A funding.
To combat these disparities in capital, we have launched Intersectional Ventures. The initiative recognizes that those supporting its efforts, including the team and stakeholders, have experienced various forms of prejudice on their post-graduate journeys. Intersectional Ventures aims to share its expertise, relationships, and resources with entrepreneurs from marginalized backgrounds, equipping them with the tools necessary to challenge systemic barriers, revolutionize industries, and contribute to building a future that embraces inclusivity. Through this initiative, Intersectional Ventures, we will level the playing field and create opportunities for underrepresented groups to thrive in the business world.