The Angel Capital Association's Response to Current Events

By: Pat Gouhin, Chief Executive Officer

We are deeply saddened and disturbed by the senseless deaths of George Floyd, Breonna Taylor, Ahmaud Arbery, and too many others.  The Angel Capital Association stands for social justice, equal opportunity, and social mobility through the power of entrepreneurship. We have no place for racism.   

Although diversity is one of our core values, unlike our gender diversity initiatives, we have not done enough to address racial inequities. Black CEOs represent a low single digit percentage of angel backed portfolio companies and an even smaller percentage of funding. Much more needs to be done. Forward, we are committing ourselves to building racial diversity in both the angel investing community and the entrepreneurs we support. 

First, we must listen and engage; then take meaningful action. We would like the minority investor community to help us shape our plans and work with us to implement real change in our industry. After conducting a town hall to gather perspectives and ideas, we will issue a roadmap of smart practices to help the ACA and our members take specific steps to increase minority membership and investments in start-ups led by minority founders and CEOs.  We commit to measuring and reporting our progress.  We encourage your participation and feedback as we move forward.