To solve that problem, these critics say, investors need to look beyond their own networks, as well as make their own industry more inclusive. As of now, only about 4 percent of all venture capitalists are Black, according to the National Venture Capital Association. “You can’t just hire one person and it’s done. You can’t just check a checkbox,” says Frederik Groce, a principal at Storm Ventures. Groce says improving diversity needs to be done systematically, rather than simply promoting one Black investor at a firm, or throwing money at the first Black founder who walks in the …
