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Black Founders Matter presses VCs to pledge commitment to diversity


As a child, Marceau Michel always asked for a quarter.
He knew if he kept asking for a quarter, he’d have a dollar one day. Then he’d be well on his way to having two — a slow but purposeful build toward amassing his own little fortune.
Today, at the helm of the Black Founders Matter venture fund, Michel has kept that mentality. The fund announced today the formation of the 25 by 25 Pledge, which encourages venture capitalists to commit to investing a quarter of their funds into BIPOC women founders by the year 2025. The pledge also requires VC firms to have 25% of their staff be BIPOC women, believing the increase in diversity behind the scenes will help pivot more deal flow into marginalized communities.
“This is about changing the power dynamics in venture capital,” Michel told TechCrunch. “You have to start at who is left behind and bring them to the starting line.”
Michel was …

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