Wrapping up with our Annual Report, Inaugural Summit, and a strong community.
LatinxVCs 2nd Annual Report on the State of Latinx VCs is live!
Hi LatinxVC Community,
Happy Holiday Season! ☃️ It’s been a monumental year for our community. Not to mention that INCREDIBLE World Cup win by Argentina! 🇦🇷 🇦🇷🇦🇷
This year we had gatherings in San Francisco, Los Angeles, New York, Miami, and Chicago throughout the year. We completed our 3rd cohort of Fellows breaking into VC (led by Jomayra Herrera and Jacob Mullins), kicked off the second cohort of our Mentorship Program, hosted our first-ever Summit in Miami, and announced (today!) our 2nd State of LatinxVCs Industry Report.
A huge shoutout to the Board, Board President Maria Salamanca, Board VP Lisette Tellez, and our newly welcomed Executive Director Mariela Salas for their part in building a generational organization as we finalized our 501c3 status. We also want to thank our incredible committee members Alexis Maciel, Ashley Ramirez Balla, Daniel Bronsoiler, Marlise Arellano, and Leonardo Arango who have been key to this year’s success.
Lastly, thank you to our founding sponsor, Silicon Valley Bank (Al Guerrero, Courtney Karnes, Sarah Ferreira, and alumni board member Alex Marshall); our first two years would not have been possible without your early support.
Mariela and our Board are excited for 2023 as we have plans to expand our programming to support our stronger-than-ever community.
In this issue:
Annual Report 2022
Inaugural LatinxVC Summit
Our community wins 🥳
Opportunities
LatinxVC Treasurer Application
As the broader venture capital ecosystem has reported making progress in achieving broader diversity, we wanted to dive deeper into the state of Latinos/as in the industry. This year’s report is broken down into three separate sections: 1) State of Latina/o VCs 2) State of Latino/a Founding General Partners 3) 20 anonymized VCs emphasize challenges and opportunities our community faces within the sector. You can access the full report here.
A few highlights:
Minority- and Woman-led firms manage ~1.4% of the $8 trillion venture capital and private equity industries, of which $2 trillion is VC
Although the number of Latino/a VC investors grew by 36%, to 197 (2022) from 145 (2021) we remain 2% of the industry (compared to 19% of US population).
At 100M+ funds, non-partner level Latina/o increased from 24 to 57 (+138% y/y), now 2% of non-partners are in institutional VC roles (up from 1%).
In 2021, the Bay Area had 50% of all Latino/a VCs, but in 2022, that dropped to 39%. The biggest increases have been on the East Coast. New York’s share of Latino/a VCs increased from 16% to 20%, driven by strong growth at institutional firms.
From 2021 to 2022, there was nearly a 2x increase in the number of funds $26M-$50M and over a 2x increase in the number of funds above $75M. In the last 12 months, there has been a 3.6x increase in AUM by Latino/a GPs.
There are only 50 Latino/a partners at institutional funds and only 13 funds $100M+ have had a Latino/a co-founder.
Our Inaugural Summit in Miami was a blast!
We had 100+ VCs and 20+ institutional LPs attend our first-ever LatinxVC Summit. This is officially the largest-ever gathering of Latina/o VCs and LPs in the history of our industry. The energy was unparalleled with Orlando Bravo kicking off the afternoon as our keynote speaker. We saw the summit as an opportunity to come together, learn from each other, and find ways to catalyze the growth of the Latinx investor ecosystem. We discussed crypto, market outlook, LP perspectives, and how to think about exiting in this market. Even our swag bag was historic, highlighting Latinx-led products. Thank you again to our sponsors Silicon Valley Bank, Kapor Center, Thomabravo, Nationwide, and Countsy.
Our Latinx GP and LP Dinner
The dinner in San Francisco had some of our favorite people come together for a night of great food and conversations. We can’t wait to host more of these in the upcoming year.
Our community wins!
Natalie Dillon was promoted to Partner at Maveron
Nico Berardi and Antonio Osio raised Animo Fund II ($78M)
Mariano Payano graduated GSB and re-joined ICONIQ Growth
Tiq Chapa joined Rocketship.vc as Senior Associate
Roble Ventures led by Sergio Monsalve closed Fund I
Maria Salamanca was elected as Florida's Orange County School Board Member, the 8th largest district in the US and 3rd largest employer in FL. She is the youngest and first-ever LGBTQ+ member on the board.
Opportunities
LatinxVC is looking for a Treasurer who would join our Board of Directors, apply here.