Our Why

Why Choose Us?

Black investors are only 3% of venture capitalists, with the majority being white males at 80%. According to a recent study by NVCA:

If you improve the rate of Black and minority women and men in entrepreneurship — their ability to grow and scale — then you improve the entire community

Statistics

According to the US Census Bureau, only 949,318 of the 5.4 million businesses in the US are Black- and minority-owned businesses. This is just 17.5% of the number of companies operating in the country.

Of these, over half of these are owned by Asians. Hispanics come in second with over 30%. African-Americans are third, holding just 11.4% of these businesses.

Studies show that only 23% of black and minority loan applications get approved by banks. That’s why startup founders turn to alternative funding options to help these businesses grow.

A report published by Pitchbook in 2017 revealed that of the over $40 billion of funds raised by venture capital firms, less than 3% of this is allocated to Black- and minority-owned startups. Even more alarming is that this percentage decreases if you fall into more than one minority group.

At Evals Equity we want to focus on startups that are often underestimated and overlooked but still have the capacity to generate revenue if given the opportunity.

Only 4% of the VC workforce is Black, and only 3% of the people actually leading investments are Black, according to data from the National Venture Capital Association.

Market Opportunity

Collectively, Black women founders raised $700 million in 2018 and 2019, up from $289 million raised in 2009 to 2017, according to ProjectDiane.

Despite the major increase, however, Black women founders accounted for just 0.27% of the $276.7 billion in startup funding raised by all companies in those years, as tracked by Pitchbook.

According to the Fed survey, 31% of Black women business owners rely on personal funds to finance their businesses, whereas only 16% of nonminority women business owners

where opposition meets opportunity

Evals Equity is committed to building a culture of ethical and operational excellence.

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