Following the Money: Inside BLCK VC’s Black Venture Report

By: Mia Moore 

During the Congressional Black Caucus Foundation’s 54th Annual Legislative Conference, Attorney Smith attended two separate events hosted by BLCK VC. The following is an introduction to who they are, what they stand for, and a breakdown of their 2025 State of Black Venture Report, and the implications for our clients. 

Attorney Smith with Kareema Thomas, Chief Strategy Officer (BLCK VC)

What is BLCK VC?

BLCK VC is a nonprofit organization that equips Black investors with the access, education, community, and capital pathways needed to lead the next wave of innovation. Their premise is simple and urgent: venture capital isn’t just financing, it’s a catalyst for economic opportunity that can build leaders, unlock prosperity, and strengthen communities. Yet today, only 3% of VC investors and 2% of partners in the U.S. are Black, a gap BLCK VC exists to close. BLCK VC

“Venture capital does not exist apart from the systems that shape it.” sobvr2025.blckvc.org

Black Venture Report shows:

BLCK VC’s State of Black Venture (SOBV) synthesizes surveys, interviews, and industry research to map representation and advancement. The report underscores persistent structural barriers alongside clear points of leverage for change. 

• Underrepresentation persists. Historic and current snapshots show Black investors continue to make up less than 3% of the industry, with only 2% at the partner level, the roles that write checks and set strategy. BLCK VC

• The “glass ceiling” dynamic. Venture is typically top-heavy, except among Black investors. Black professionals are more likely to reach a partner when they start the firm or when it’s smaller, indicating constrained promotion pathways inside established platforms. BLCK VC

• Firms without Black investors are the norm. In a survey of 638 firms with more than seven investors, ~90% had zero Black investors and only 15 firms had more than one. (Chart above reflects seniority distribution; BLCK VC’s site includes additional visuals.) BLCK VC

Why Is This Important:

Who sits in the partner seat shapes which founders get funded, which markets are understood, and where innovation scales. BLCK VC’s programming (e.g., Black Venture Institute) builds the skills, networks, and visibility that move talented investors into decision-making roles, turning venture into a true engine of generational wealth and innovation. 

“This report exists to document, challenge, and transform the realities of Black investors… Freedom is not symbolic—it’s material. It looks like control over capital and pathways to leadership.” Medium

What Now?

If you’re a founder, operator, or business owner and want to learn more about BLCK VC’s funding initiatives, explore Fund Forward here: https://www.blckvc.org/fund-forward 

Then, reach out to us to ensure you are investor ready, by protecting your billion dollar ideas through trademark and other forms of IP protection, have solid agreements between existing team members and contractors, and have a short and long term strategy to scale your business and provide a return on others’ investment. 

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