I was thinking about my business as a legacy that I would build and pass down, and that is not something investors love. They want to know if it's a solid idea, there's a need for it in the market, and how quickly you can get out of it and pay them.
Women entrepreneurs launched some 3.5 million new businesses over the past decade, with as many as 78% of them owned by women of color. Yet despite this economic impact, VC funding remains elusive, with only 4% of women-owned businesses and 13% of minority-owned businesses receiving VC funding last year.
Despite these long odds and her own reservations, Janine Truitt's experience highlights the broader challenges faced by underrepresented minority entrepreneurs in accessing venture capital, with a significant lack of diversity among VC investment partners hindering opportunities for funding.
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