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The U.S. is the best place in the world to raise money for black entrepreneurs. The market is mature and the check sizes are larger. More funds, more options, more opportunities are available.
The reality is that the heart of the American Dream is still beating, even though the funding and treatment of Black founders in the U.S. is abysmal.
Lotanna Ezeike, a serial founder, said he is looking to raise money for his new startup in the U.S., despite raising more than $1 million for his U.K.-based company.
He said that a seed in the U.K. is a pre-seed in the U.S.
The U.K. is small so the mind can only dream so large. It is a spiral of less wealth, less capital, and less ideas that turn into billionaires.
He said he looks to the U.S. for venture funds because there are more success stories of black entrepreneurs there.
He said that the U.S. is a better place for black entrepreneurs. What's the reason? There are more diverse investors in the U.S. More institutional investors are giving ticket sizes from $100,000 to $500,000 in the idea stage, more opportunities to build a founder network, and more investors that have already invested in Black entrepreneurs in the past.
The numbers show that the reception of Black founders is not different in the U.S. France and Germany don't track race data, but they do have anecdotal evidence of racism. Entrepreneurs look to the US for networking opportunities.
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