Suites Capital was founded by attorney and business advisor Shimite Obialo, after her experiences working closely with entrepreneurs as a Venture Lawyer in New York City. She saw that there is a major gap in the funding ecosystem for women and minority founders. And while over the last several years diverse fund managers have stepped in to fill that gap, it’s simply not enough.
More specifically, total capital flows to Black founders has fluctuated between 0.8% and 1.3% since 2017 as a portion of total US venture funding. Latino founders received between 1.8% and 2.1% of venture capital funding since 2018. And funding for female founders has floated between 2% and 2.8% of venture capital since 2019.
We need to join forces – across racial, ethnic and gender lines. We need to collaborate across private funds and angel groups. And, we need to lean into our collective power to help bridge the resource gaps – through our connections, coaching and capital support.
So much of the investment community operates according to referrals and personal networks, and therefore the best way to create more opportunities for minority and women entrepreneurs, is to get our networks organized in order to create a global community of likeminded executives and entrepreneurs who are ready to lean-in, together.
Join us at the Suites – where capital and community meet.
@2022 Suites Technologies, Inc.