It was the stat heard around the startup ecosystem: only 11 black women had ever raised more than $1 million in venture capital as of 2016. And that year, only 0.2% of all VC funding went to startups founded by black women.
Those were the rather depressing key findings of ProjectDiane, a pioneering study initiated by investor Kathryn Finney, founder of digitalundivided, an Atlanta-based accelerator for high-potential women entrepreneurs of color she founded in 2013.
To date, 34 black women have raised upwards of $1 million each from VC firms, up from 11 two years ago, including Mented Cosmetics’ cofounders KJ Miller and Amanda Johnson, Camille Hearst of product recommendation site Kit, and visual search engine Plum Perfect founder, Asmau Asmed.
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