BLACK FOUNDERS HIT FUNDING HIGH—WITH A CATCH

Black entrepreneurs reached peak funding levels this quarter, reversing a downward trend from previous years. Yet progress masks deeper challenges in venture capital access. Crunchbase head of research Gené Teare identified the core issue: access to networks, relationships, and early introductions. These informal channels—often the gateway to institutional funding—remain largely unavailable to Black founders. The funding spike reflects increased awareness around diversity in tech, but structural inequities persist. Black founders still face longer paths to capital compared to peers, with relationship-based gatekeeping limiting their ability to secure early-stage backing. The quarter's gains suggest momentum is possible, but closing the gap requires systemic change beyond quarterly metrics. Until networks and introductions become equally accessible, funding surges will remain temporary victories in a landscape still defined by exclusion.