(Crunchbase) Venture funding to Black-founded U.S. startups last year totaled only $705 million — marking the first time since 2016 that the figure failed to even reach $1 billion, Crunchbase data shows.
The decline in capital to Black-founded companies greatly outpaces the overall decline in startup funding. While total venture dollars in the U.S. fell 37% last year, funding to Black-founded startups dropped a staggering 71%, according to Crunchbase data.
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