The VC industry is an aggregation of aggregators. When we talk about their biases against people who look like us, let's not focus on the symptoms but the root cause. Their money is almost always from people who don't look like us and they select for VCs who look like them.

The VC also select for LPs who look like them because it is easier to convince them. In my short time in the industry, I have met very few genuine people who are above perception games but that is another story. Question is, can there be VCs who aggregate mainly from black LP?

I know many rich Black people globally who don't understand the asset class. They give money to fund managers who don't look like them and depend solely on their reputation and ”competence” based on their track record. That same money is aggregated by VC who don't do black.

Many of the Africa focused VC who do black have money from DFIs whose agenda are not only questionable but also not long term. I asked a potential DFI LP once what they were doing about inner-city founders in America and Europe? I didn't get an answer. Their money helps though.

The truth is that black money doesn't see color, it searches for efficiency. VC who don't do black see color and correlate it with efficiency due to ”pattern matching.” The solution to all of this is data. Let's start showing that those patterns are flawed and short circuit them.

This is why I love what @chamath is doing with @socialcapital. I don't worry about dinosaurs in decline, I am more concerned that we don't lose out in the new age of entrepreneurship resourcing. Keep building while black. The data will get you noticed.

As for VCs who do black, keep trusting your data and you will become dominant. It is a game of iterations.