HomeFinance NewsPersonal financeDiversity-Fueled Startups: Crushing Challenges with Inclusion and Equity

Diversity-Fueled Startups: Crushing Challenges with Inclusion and Equity


Start-up entrepreneurs — benefiting from diversity, equity and inclusion efforts — continue tackling challenges


Black startups in the U.S. are facing challenges in securing venture capital, with their funding share dropping to a record low of 0.48% in 2023.

Despite economic headwinds, some entrepreneurs are thriving, like Naza Shelley of CarpeDM, a dating service app focused on Black professionals.

Jason Ray, president of Zenith Wealth Partners, addresses wealth inequality by providing financial advice and aiding clients in investing in early-stage companies.

Understanding the risks and evaluating the startup’s operations, management, and terms are crucial for wise investment decisions.

Elevate Capital plans to launch a new venture fund to support diverse entrepreneurs, and Ray believes early-stage investing will continue to grow and support businesses led by underrepresented groups.

  • Overall sentiment: negative
  • Positive

    “Still, some entrepreneurs are rising to the challenge and building on the momentum generated a few years ago.”

    “Elevate Capital plans to launch a new venture fund in the next few months, expanding its support of diverse entrepreneurs in new regions.”


    “Black founders of startup companies in the U.S. raised 0.48% — less than half of 1% — of all venture dollars allocated in 2023, according to Crunchbase.”

    “The share of funding has been falling since 2021.”

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