Reports show that Black women are the most educated group in America, yet the most underfunded group when it comes to venture capital.
While others may be discouraged by this, Black Gems Investment Group decided to take matters into its own hands and transform small businesses for the better. The nine-member group including Kristen Trulear-Jackson, Ph.D., RoNeisha Mullen, and Nakisha Washington, to name a few, is composed of professionals from diverse backgrounds who come together to share their knowledge respective to their industry.
Officially founded in January 2021, Black Gems Investment Group empowers women by providing capital investment and expertise to women founders.
A ProjectDiane survey found that Black and Latinx women combined received just 0.64% of total venture capital investment. The Black Gems Investment Group aims to become part of the solution to alleviating the grave disparities that exist within the investment space. At the height of the pandemic, while identifying a growing need in the financing of women founders, the collective was inspired to launch their investment group.
Offering Diverse Skills And Services
With mentorship from top investment CEOs like Dr.Shante Williams, the collective is determined to continue to do the good work. By providing their services, they hope to inform business owners that banks and lenders are not the only sources for financing.
The investment group offers opportunities for women business owners to submit projects through funding through initiatives like their most recent pitch competition in May 2021, which offered 10k to the top pitch submitted.
Financial investment opportunities are not the only service Black Gems Investment Group provides. The group has unique sets of skills to offer, being made up of folks with extensive experience in education, human resources, healthcare, entrepreneurship, financial services, and more. With these diverse backgrounds incorporate experience, the group also provides expertise in their respective fields to further council new women founders.
Encouraging Women To Invest
Another priority of the group is to inspire women to dive into the investment arena.
The Angel Capital Association (ACA), reports that only 22% of angel investors in theThe United States are women. They hope to empower more women to become angel investors and tap into the community to support women entrepreneurs.
“A lot of us in the group are entrepreneurs and so we understand what it’s like for people — Black women, especially — to try and build businesses from the ground up,” group member Dr. Trulear-Jackson told QCity Metro. “I think that’s really where our passion comes in wanting to help minority-owned and women-owned businesses.”
Their purpose is to help small businesses flourish by providing them with the tools to thrive. As stated on their website, their “mission is to fuel minority-owned small businesses by providing financial investments, serving as business advisors, and connecting owners to resources to increase visibility.”
You can find out more information about Black Gems Investment Group here.