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The top 10 metro areas where Black and Latinx founders are securing the most funding to build their companies
The top 10 metro areas where Black and Latinx founders are securing the most funding to build their companies
Marguerite WardOct 7, 2020, 21:52 IST
Winner of Battlefield, 'Forethought,' and Tech Crunch team onstage during Day 3 of TechCrunch Disrupt SF 2018 at Moscone Center on September 7, 2018 in San Francisco, California.Steve Jennings/Getty Images for TechCrunch
If you're a Black or Latinx founder looking to get your idea off the ground, knowing where to access capital is key.
Analysts at business and startup information hub Crunchbase combed through funding information between 2015 and August 2020 to find out where investors that are giving the most funding to Black and Latinx founders are located.
Not surprisingly, the San Francisco Bay area came in first, at $4.6 billion invested over that time period. But you may be surprised by some of the lesser known hubs, too.
If you're a Black or Latinx founder looking to get your idea off the ground, now is a great time to go for it. Calls for diversity, equity, and inclusion have never been louder — including in business and the startup world. Several companies and tech leaders are investing money in programs aimed at advancing Black, Latinx, and other underrepresented groups in entrepreneurship.
And while many Americans are working remotely right now, it's important to know where venture capitalists investing in Black and Latinx founders are located. This can help you prioritize where to work, live, travel to, or network once the pandemic lifts.
Here are the top 10 metro areas where Black and Latinx founders have secured the most funding from the start of 2015 to August 2020.
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10. Venture capitalists in the Chicago metro area committed about $167 million.
Chicago is known for its freezing winter temperatures.
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9. Venture capitalists in the Miami area committed about $195 million.
Miami skyline.
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8. Venture capitalists in the Denver area committed about $231 million.
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7. Venture capitalists in the Washington DC area committed $300 million.
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6. Venture capitalists in the Atlanta area committed $400 million.
The school’s Customer Discovery Lab is a six-week program for first-time or experienced founders.
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5. Venture capitalists in the Seattle area committed $800 million.
Seattle is home to tech behemoths Amazon and Microsoft.
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4. Venture capitalists in the Los Angeles area committed $1 billion. A
An aerial view shows MacArthur Park and downtown in the midst of the coronavirus pandemic, on April 15, 2020 in Los Angeles, California.
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3. Venture capitalists in the Boston area committed $2.3 billion.
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2. Venture capitalists in the New York City area committed $4.4 billion.
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1. Venture capitalists in the San Francisco Bay area committed $4.6 billion.
The Golden Gate Bridge is seen as a visitor stands at a vista point in San Francisco, California, March 21, 2020.
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