🏳️🌈 Embracing Diversity: Pride Month, LGBTQ+ Market, VC Diversity, Early-Stage Funding Checklist, Investor List, and More!
This is a monthly newsletter of curated actionable insights and resources for over 20,000 underestimated founders, funders, and friends.
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🏳️🌈 Happy LGBTQ+ Pride Month! And now, let's dive into the LGBTQ+ tech market and discover how you can benefit from it as a founder, funder, or ally.
According to the National LGBTQ+ Chamber of Commerce (NGLCC), the LGBTQ+ community boasts significant spending power, with LGBTQ+ consumers spending $1,200 more per year on average than heterosexual consumers, and presents a $3.7 trillion market opportunity. And Out Leadership has found that investing in LGBTQ+-founded and led startups has proven to generate outsized returns, with LGBTQ+-led startups outperforming the market by 2.5x over five years. Example of a successful LGBTQ+-founded startup that’s made its mark: Grindr, which went public at a $2.1 Billion valuation in 2022, is a dating app for gay men that has achieved remarkable success.
Research shows that LGBTQ+-friendly companies are more profitable than those that are not. Furthermore, according to the NGLCC, 1 in 4 LGBTQ+ adults have started their own businesses. LGBTQ+ entrepreneurs are also known for their social responsibility, giving back to their communities and making a positive impact.
For founders and funders, I encourage you to consider investing in LGBTQ+-focused tech startups. This helps create a more inclusive and equitable tech industry and presents the potential for exceptional returns. If you're an LGBTQ+ founder, I recommend submitting your company to Ganas Ventures at ganas.vc.
✨ Lolita Taub, GP at Ganas Ventures | twitter | luma
Featured in Forbes, Nasdaq, Techcrunch, Thrive Global
Congrats
You for helping Lolita’s Newsletter surpass 20,400 subscribers. Yehong Zhu of Zette (port co) for winning the Harvard Alumni Startup Pitch competition. Anita Hossain and Rei Wang of The Grand (port co) for their partnership with Angel City FC. Miriam Rivera of Ulu Ventures for making the AfroTech Future50 list. Divya Kakkad and Pam Kostka (Ganas LP) for becoming Graham & Walker Board Advisors. Maryam Banikarim of MaryamB and Mallun Yen (Ganas LP) of Operator Collective for being selected as guest co-chairs of the 2023 Fortune Most Powerful Women Summit.
Sponsored | Underestimated founders, funders & friends: join Lolita Taub’s panel on June 15th at the 4th StartOut Equity Summit, a virtual event dedicated to empowering underestimated founders from diverse backgrounds to thrive in different industries and regions. RSVP below.
Funders
Deloitte | Get the US Venture Capital gender and ethnic talent breakdown
Techcrunch | Learn about VC fund performance today
Asking for a founder | Meet investors backing diverse founders and join them
Startup-Investor Matching Tool | VCs: meet thesis-aligned underrepresented founders
Sponsored | Attention seed-stage founders! 43North is on the hunt for its next cohort. Five companies will receive a $1 million investment, plus access to mentorship, connections, and more. Apply now at 43North.
Founders
Asking for a founder | Get the Pre-Seed thru Series A funding requirement chart
Asking for a founder | Find Pre-Seed and Seed investors backing diverse founders
Asking for a founder | Learn whether you should pay for investor intros or not
LaaS | Underrepresented founders: get resources made for you
Sponsored | Underestimated founders, funders & friends: welcome to the Ganas Ventures Expert Series show, where we aim to help you on your startup-investor journey to success! RSVP and join talks with industry experts whose backgrounds include 500 Global, Gitlab, Republic, Didi, Nubank, Spin by Oxxo, VISA, and more!
Money
Techstars | San Diego founders: apply for $120K by 6/14
Stella | Women founders: apply for $10K by 6/16
Hearst Lab | Women founders: apply for $100K by 6/17
CCWC | BIPOC women: apply for a $5K grant by 8/1
Fearless Fund | Black women founders: apply for a $20K grant by 8/31
Ganas Ventures | Community-driven founders: apply for $100K
Workers Lab | BIPOC women: apply for $200K
Amber | Women founders: apply for <$10K grants
Z Fellow | Technical tinkerers: apply for a $10K grant
TechRise | Chicago founders: apply to win $50K
MEDA | SF women founders: apply for <$5K grants
SoGal Foundation | Black women founders: apply for $5-$10K in grants
1863 Ventures | Black founders: apply to get a 3Rs $5K grants
Non-dilutive capital | Create a profile to find non-dilutive capital
Equity Crowdfunding | Raise up to $5 million
Startup-Investor Matching Tool | Founders: get intros to investors
Want more? Follow me @lolitataub, and let me know how I can help. Want to support our newsletter and get featured? Become a sponsor.