The evidence and impact of racism in America is everywhere. As investors, we don’t have to look far or hard to see it. Funding, mentorship, credentialing, access - the truth is simple: entrepreneurs of color have been systematically excluded. It's been a sustained economic discrimination that mirrors and amplifies the physical violence that Black people have endured for generations. It must end. Today.
If the last few weeks have taught us anything, it’s that talking about racism falls short. The excuse that Black and Brown entrepreneurs are not “far enough along” to be worthy of investment is a lie. Founders of color have been barred from participating in the networks that investors use to find and invest in new ventures. The founders are here. The investment community chooses not to see them.
We know this because we’ve challenged ourselves to look beyond our backyard for investable companies. Currently, 56% of the companies in the RevUp portfolio are founded by women, people of color, and military veterans; many based outside of top tier markets. These companies significantly outperform on year-over-year revenue growth and profitability, and have generated some of our highest fund returns.
This is just a beginning, and actions matter more than words. We will increase our investment in Black founders. We will make our investment program more accessible to people of color. We will increase our presence in Black and Brown communities. We will improve the diversity of the RevUp team, to bring more valuable perspectives to finding, selecting, and serving revenue-driven companies. The most important thing that we as investors can do (in the words of Tiffani Ashley Bell) is “make the hire or send the wire.”
Today, we send our love, support, and solidarity to the Black Lives Matter movement. We stand with them. We pledge to do our part, as investors and as citizens, to fight against the physical brutality AND the economic brutality of racism in America.
With love and respect,
Melissa Withers, Allan Tear and Bill Cesare
RevUp Capital Partners
More About RevUp Capital
RevUp Capital is a non-equity investment fund for companies moving fast up a revenue-driven growth curve. The RevUp platform pairs cash investment with a science-driven process to turbo charge growth and the tools and human capital to get it done. Core to this capacity is our in-house growth marketing team, which we deploy to our portfolio companies in tandem with our cash investment for ~12 months post investments. RevUp is led by an experienced team with 130+ investments under management. More at RevUpFund.com.