Black founders raised $212 million out of $29 billion this Q2, picking up just 0.71% of the capital allocated to U.S. founders this quarter, according to Crunchbase. In Q2 2022, Black founders raised $602 million out of $62 billion, or 0.97%, of the capital allocated.
In total, Black founders raised around $565 million out of $75 billion in H1 2023, which is 0.75% of all capital raised in the U.S. so far this year. That, too, is a drop from the $1.8 billion out of $144 billion, or 1.25%, that they raised in H1 2022. Overall, funding to Black founders has gone down from previous years, but the overall amount of funding allocated has gone down, too.
This isn’t surp …
