Today, Sterling Road is releasing our 3rd annual diversity report.
Fund 3–2023
Female Founders — 33%
Black Founders — 25%
LatinX Founders — 8%
Outside of Silicon Valley — 75%
Overall, 50% of our investments are in founders from overlooked backgrounds. Previous Diversity Reports — 2021, 2022
Comparison with Previous Reports
As always, we have much more work to do. Across Female, Black, and LatinX founders, the numbers roughly track with Fund 2 from 2022, with small increases for Black and LatinX founders and a small drop for Female founders.
Venturing Beyond Silicon Valley
There has been a notable shift in our investment geography. Until this year, the majority of our investments were concentrated in Silicon Valley. We now invest the majority of our capital in Europe, Canada, and throughout the USA, often providing assistance to founders who want to transition to Silicon Valley.
Given the growth and wealth of talent in these startup hubs outside of Silicon Valley, such as London, Toronto and Manchester, we are keen to continue investing in entrepreneurs who might be otherwise ignored by investors in San Francisco.
Sterling Road invests in idea stage and pre-seed B2B startups based in the US, Canada and UK.
