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Richmond Inno

“If you think of five in 100 startups getting funded and then one percent of those five being Black, it would take a lot of pipeline [for Black startups to get funded] even if there was no bias,” he added.

On the investor side, Laura Markley , managing director for Richmond-based VC firm NRV , agreed that this problem comes down to pipeline. While there is a bottleneck of who can get access to information about funding opportunities, the industry presents a diversity problem from the very beginning.

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