At the beginning of Pride Month 2023, Crunchbase announced it would start tracking the amount of venture capital dollars invested in founders who identify as part of the LGBTQ+ community.
This announcement represents a massive shift for many entrepreneurs who had previously felt the need to hide their identities from investors.
"I've heard founders say they delete any mention of same-sex partners, advocacy work, or involvement in anything LGBTQ+ while raising capital as they fear investors will see it during due diligence," said Chasing Rainbows General Partner Patrick Driscoll in an article posted on Tech Crunch.
In "Waving a Rainbow Flag All Year Long," we profiled three founders who identify as members of the LGBTQ community. Two years later, we spoke to a new group of entrepreneurs, specifically asking them, “How can people become more aware of life as LGBTQ+ entrepreneurs so they can best empower and support you?”
Here are some of their answers:
It takes tremendous courage to come out in your personal life. It may feel overwhelming to do the same professionally. However, there are opportunities available for LGBTQ+ business owners. Certified LGBTBE® companies have access to hundreds of corporate representatives and supplier diversity professional contacts and are also eligible for scholarship programs, mentorship and leadership training, and other business development tools. Learn more here.
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