According to Diversity VC, only 1.87% of VC funds are given to startups with diverse leaders.
B. Pagels-Minor, Founder, and CEO of DVRGNT Ventures, a Venture Capitalist firm. Pagels-Minor is currently raising $10M to close the funding gap and plans to back more minority-led startup founders. Over the last decade, B. has noticed the lack of capital given to minority founders for their startups and plans to change the vetting process.
Tell me more about your line of work and what led you to it.
I am a venture capital investor. After spending over 15 years in tech and as a consultant, I became an investor. I realized that I have a knack for discovering and mentoring great founders. However, because my network is primarily in Middle America, it wasn’t easy to get founders the investment they needed. As a result, I launched my firm to support great founders in Middle America with the investment they need to continue to develop notable startups in the region.
What has been the mission of your company and how have you helped others in the community?
At DVRGNT Ventures, our mission is to fuel the next generation of world-changing technology companies. By investing in early-stage companies in Middle America, we accelerate their growth and scalability, positively impacting the world. We foster an entrepreneurial ecosystem that inspires audacious ideas, pushing the boundaries of what’s possible. With passion and dedication, we aim to leave an indelible mark on entrepreneurship, championing limitless innovation in a new era.
I mentor founders in accelerators, provide partnerships with other venture capital (VC) firms and incubators, and also support various universities in the region. I do this to help ensure that talented individuals in the region have the resources they need to succeed.
What’s something you are currently working on that people can take part in?
A key aspect of my mission is to raise awareness about the investment gap in Middle America and advocate for investors like myself who actively support the region. We can make a significant impact by sharing the content that I and other proponents of this cause generate. Spreading awareness is a crucial part of the battle, and your support in sharing this content would be greatly appreciated. Together, we can drive change and ensure that Middle America receives the investment it deserves.
Share with us why you feel there is a massive lack of funding for minority-owned businesses.
The core problem lies in the inadequate investment in Middle America, affecting a significant portion of the population. More than 66% of women, 77% of African Americans, and 55% of Latine individuals reside in Middle America, yet only a tiny percentage of overall investment flows into the region. Consequently, minority-owned businesses face significant barriers to connecting with investors.
To address this disparity, it is crucial to raise awareness among investors on the coasts regarding the vast economic potential that Middle America holds. By highlighting the untapped opportunities and the diverse talent pool, we can encourage increased funding for minority-owned businesses. This shift in perspective will pave the way for a more inclusive entrepreneurial landscape and drive meaningful economic growth.
Define your marketing strategy and ways businesses can accept what appears to be a rise in the use of AI.
As a VC, we don’t have a specific marketing strategy other than sharing our investment theories and companies we’re excited about.
The field of artificial intelligence (AI) is incredibly intriguing and offers numerous applications. However, the perfect product-market fit for AI remains elusive. While ChatGPT has demonstrated its capabilities, the question remains: Will users be willing to invest millions or billions of dollars in it? This uncertainty awaits resolution.
In my view, integrating AI into everyday tasks, starting with improving email functionality, holds immense value. For example, imagine a world where your email intuitively understands your priorities and ensures you see the most important messages first. Furthermore, envision a system that composes perfect responses, requiring just a simple click to send, enabling you to secure million-dollar accounts in seconds. These practical and efficient applications of AI can significantly enhance productivity.
By focusing on practical and useful AI implementations that optimize efficiency, we establish a solid foundation. As individuals regain more time and capacity through AI-driven automation, they can devote themselves to higher-level, strategic work. This, in turn, paves the way for even more dynamic and transformative AI implementations in the future.
Learn more about B. Pagels Minor by connecting below!
Website: http://www.bpagelsminor.com
Instagram: www.instagram.com/dvrgntventures
Twitter: www.twitter.com/bpagelsminor
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