My guests are Brittany Davis and Christie Pitts, Partners at Backstage Capital. This is an investment fund focused on investing in people of color, women, and LGBTQ+ founders. Currently, less than 10% of all venture funds go to these groups. Whereas other VCs see this as a pipeline problem, Backstage Capital sees it as the biggest opportunity in investment.
Backstage Capital has invested in more than 150 companies led by underrepresented founders since 2015. They’ve become the brand for underrepresented founders and they’ve done great work promoting and empowering diversity.
Data shows again and again that diverse teams perform better and diverse investors make better investment decisions. It’s clear that diversity is not just a feel-good choice, but also a smart option for savvy investors.
In this episode, we discuss diversity in venture capital, crowdfunding as a way to bring power to the people, and all the great work Brittany and Christie have been doing at Backstage Capital.
Key Points Discussed:
Backstage Capital ran a very successful campaign on the crowdfunding platform Republic. They broke all records and raised $1M in just 9 hours.
Brittany and Christie see crowdfunding as a groundbreaking initiative that will change the investing landscape for the better. Crowdfunding allows everyone to invest in their preferred startups, minimum check size of $100.
But it’s not just the possibility of earning profits that makes crowdfunding so interesting to people. This process democratizes access to financial knowledge and wealth. While these skillsets used to be kept behind closed doors, today we have a chance to join the venture game, learn, and design the future we want to see.
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