In business, it takes money to make money. Yet for many Black and Latinx founders, access to capital is a barrier to entry into their respective industries. Another barrier is often access to venture capitalists who come from similar backgrounds as them, who understand them, and who believe in their ideas and businesses enough to invest in them.
According to research, only 1% of VC-backed companies have Black founders, and only 2% of firms have investment team members who identify as Black.
San Francisco based technologist, Hadiyah Mujhid, has been solving for that equity problem as the founder and CEO of HBCUvc. Prominently known for building pathways for underrepresented investors and founders, HBCUvc has led the charge on developing the next generation of venture capital leaders from Historically Black Colleges and Universities through their strategic programming and partnerships. With the perspective that culture is a currency, Mujhid and her team nurture budding entrepreneurs and investors through training, coaching, mentoring, and immersive fellowships that are culturally responsive and inclusive for everyone involved.
“I like to think that our program is extremely comprehensive, and it’s culturally affirming of the identities that people bring to the space,” said Mujhid.
HBCUvc offers core programming throughout the year for HBCU students and alumni. And in the summer, they work with AnnenbergTech and PledgeLA to host a venture capital internship which places Black and Latinx interns at esteemed VC firms like Stat Zero and Crosscut Ventures.
As a part of the PledgeLA program, “We [HBCUvc] spend two weeks doing an immersive training with the fellows in LA and then they are placed with a firm for 8 weeks. During those 8 weeks, we still do one-on-one coaching support,” said Mujhid.
As firms and startups work