As Black History Month transitions into International Women's Day, this video from Don Peebles as he receives the Business Icon Award at The Grio Award, highlights the shared challenge both groups face in access to capital. "The fuel to run the motors of business is capital. Now, let me give you an illuminating fact. Today, there is over 82 Trillion dollars invested in venture capital and private equity. Of that 82 trillion dollars less than 1.3% of it is invested in firms run or owned by women or people of color. Combined. What that means is 98.7% of venture capital money, 81 trillion dollars out of 82 trillion dollars is provided to white men. Yet, white men represent only 31% of America's population. Women represent 51% of Americans, we Black Americans are 13% of Americans. Thus, you have 64% of the population receiving less than 1.3% of the investment capital." ~ Don Peebles Link to video in the comments. These numbers are not unique to the US. Less than 2% of VC funding globally is invested in female founded businesses. Less than 2%! In 2024, Growing the 2% Club is committed to amplify and advocating for female founders seeking the investment and liquidity to grow their businesses. If you are a fund manager in the position to invest in a fabulous female founded business, 🎯 Write the check. If you are a family office looking to make a true impact, 🎯 Seek out female founded businesses that are ready to scale. If you feel your business is already making an effort in this space, 🎯 Do more. If you are a purchasing department, of large corporations purchasing from female founded businesses, 🎯 understand the reality of the 2% Club and find ways to accelerate or adapt the payment terms with your purchase. Please feel free to highlight people doing hero's work in this space. #blackhistorymonth #internationalwomensday #Grow2PercentClub
