Cook, Lisa D.; Marx, Matt; Yimfor, Emmanuel - National Bureau of Economic Research - 2022
We analyze determinants of access to venture capital for Black founders of high-growth startups. We combine image- and … funding. Black founders raise roughly one-third as much venture capital in the five years after founding vs. other startups … located in geographies with plentiful venture capital, and Black startups are less likely to have a patent. We then bound our …