THE UNTAPPED OPPORTUNITY

Who Manages Capital Shapes Where it Goes

The perspectives of those who manage capital influence which markets, founders, and communities receive investment. Broadening the range of experience among investment decision-makers strengthens how opportunity is identified and expands participation across alternative investments. Today, Black women remain among the least represented as investors and among the least funded as founders, representing a meaningful and largely untapped opportunity for wealth creation and business growth.

REPRESENTATION VS. POPULATION

Black Americans are 12% of the U.S. population.

U.S. population 12%
PE deal team members 1-2%
Assets managed by women- or minority-owned firms 1.4%
VC funding to Black women founders <1%
SOURCES: U.S. CENSUS · MCKINSEY & COMPANY · KNIGHT FOUNDATION · CRUNCHBASE

1–2%

of U.S. private equity deal team members are Black professionals, compared with 12% of the population

McKinsey & Company

1.4%

of total assets are managed by women- or minority-owned firms

Knight Foundation

2.1%

of U.S. VC firms are founded by a woman of color; 5.6% are women-led

Crunchbase

<1%

of total venture capital funding has gone to Black women founders

Crunchbase

11.1%

of public pension fund commitments went to diverse-managed funds in 2022, up from 7.6% in 2012. Minority women-led funds face a 37.8% commitment gap.

NAIC

THE UNTAPPED OPPORTUNITY

Who Manages Capital Shapes Where it Goes

The perspectives of those who manage capital influence which markets, founders, and communities receive investment. Broadening the range of experience among investment decision-makers strengthens how opportunity is identified and expands participation across alternative investments. Today, Black women remain among the least represented as investors and among the least funded as founders, representing a meaningful and largely untapped opportunity for wealth creation and business growth.

REPRESENTATION VS. POPULATION

Black Americans are 12% of the U.S. population.

U.S. population 12%
PE deal team members 1-2%
Assets managed by women- or minority-owned firms 1.4%
VC funding to Black women founders <1%
SOURCES: U.S. CENSUS · MCKINSEY & COMPANY · KNIGHT FOUNDATION · CRUNCHBASE
1–2%
of U.S. private equity deal team members are Black professionals, compared with 12% of the population
McKinsey & Company
1.4%
of total assets are managed by women- or minority-owned firms
Knight Foundation
2.1%
of U.S. VC firms are founded by a woman of color; 5.6% are women-led
Crunchbase
<1%
of total venture capital funding has gone to Black women founders
Crunchbase

11.1%

of public pension fund commitments went to diverse-managed funds in 2022, up from 7.6% in 2012. Minority women-led funds face a 37.8% commitment gap.

NAIC

THE UNTAPPED OPPORTUNITY

Who Manages Capital Shapes Where it Goes

The perspectives of those who manage capital influence which markets, founders, and communities receive investment. Broadening the range of experience among investment decision-makers strengthens how opportunity is identified and expands participation across alternative investments. Today, Black women remain among the least represented as investors and among the least funded as founders, representing a meaningful and largely untapped opportunity for wealth creation and business growth.

REPRESENTATION VS. POPULATION

Black Americans are 12% of the U.S. population.

U.S. population 12%
PE deal team members 1-2%
Assets managed by women- or minority-owned firms 1.4%
VC funding to Black women founders <1%
SOURCES: U.S. CENSUS · MCKINSEY & COMPANY · KNIGHT FOUNDATION · CRUNCHBASE
1–2%
of U.S. private equity deal team members are Black professionals, compared with 12% of the population
McKinsey & Company
1.4%
of total assets are managed by women- or minority-owned firms
Knight Foundation
2.1%
of U.S. VC firms are founded by a woman of color; 5.6% are women-led
Crunchbase
<1%
of total venture capital funding has gone to Black women founders
Crunchbase
11.1%
of public pension fund commitments went to diverse-managed funds in 2022, up from 7.6% in 2012. Minority women-led funds face a 37.8% commitment gap.
NAIC