LatinxVC Report Reveals Continued Underrepresentation of Latinos/as in Venture Capital

LatinxVC, a non-profit group led by experienced venture investors focused on growing and supporting the Latino/a venture capital ecosystem, today released its second annual State of Latinx VCs report. Although the Latino/a population comprises 19% of the US population, Latino/a investment professionals make up only 2% of total venture capital investment professionals and 2% of partner-level venture capital investment professionals at institutional[1] VC firms.

A non-profit focused on increasing the number of Latino/a professionals in VC, LatinxVC has over 150 active members, including the majority of Latino/a general partners in the US. The organization has remained focused on its five core pillars: 1) increasing the representation of Latino/a professionals in VC, 2) supporting the career development of Latino/a VCs through mentorship, 3) building community among Latino/a investors by hosting intimate gatherings including its Annual Summit, 4) improving access to capital for Latino/a-led venture firms, and 5) being a reliable source of education and data for the industry.

Since releasing its first State of Latinx VCs Report just over a year ago, the organization found in its second LatinxVC Second Annual State of Latinx VCs Report:

  • Although the number of Latino/a VC investors grew by 36%, Latino/a investors remain only 2% of the industry. While the percentage has remained the same, we saw absolute numbers increase from 145 last year to 197 investment professionals this year. Given the small base, Latino/a investors remain 2% of the industry relative to 19% of the U.S. population.
  • The percentage of Latino/a investors at institutional firms rose. Latino/a partners at institutional firms and emerging firms increased by 39% and 40% respectively. More than 80% of non-partner level Latino/a investors who joined the industry joined institutional firms. As a result, of all Latinos/as in the industry, the share of those at institutional firms increased from 41% to 54%.
  • The Bay Area lost Latino/a investors while New York and Miami gained. 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. Miami’s share rose from 7% to 10% (Miami was part of “other” in the 2021 report, and it is now separate for this report). For the share of institutional investors, New York went from 13% to 24% in 2022 and has surpassed the Bay Area in total Latino/a non-partner investors.
  • Latinos/as make up only 3% of all institutional firm partners, and only 13 institutional firms have had a Latino/a co-founder. The number of institutional firms founded by Latinos/as continues to be very small and shows how much work is ahead of us.
  • The fund size raised by Latino/a emerging general partners (GPs) is increasing. 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 (AUM assumes successful capital raise if one is underway). Larger fund sizes enable fund managers to access a wider range of capital sources.

“While a slight positive change in representation is better than nothing, the industry has a long way to go in creating an environment that is conducive to the success of Latino and Latina VC professionals,” said Mariela Salas, Executive Director at LatinxVC. “We have reviewed extensive research that shows shared ethnicity increases the probability of funding matches. Put simply, people invest in those they look like and can relate to from a cultural standpoint. Without diversity on the equity investment side, VC firms will continue to miss funding opportunities and the benefit of working with talented Lationo/a professionals who can contribute new perspectives and ideas.”

The report was previewed at LatinxVC’s Inaugural Annual Summit on November 30th in Miami, Florida, the first-ever gathering of U.S Latino/a venture capital investors. “This has been a huge year for the organization, doubling down on our data-driven approach, our inaugural summit, and hiring our first Executive Director,” said Maria Salamanca, Board of Directors President.

The organization had early support from its founding partner, Silicon Valley Bank, as well as Fenwick, NEA, Norwest Venture Partners, GV, and Kapor Center.

Read the report here: State of LatinX VCs.

About LatinxVC

LatinxVC is a 501(c)(3) non-profit organization focused on growing and supporting the Latino/a venture capital ecosystem. The organization aims to increase the representation of Latino/a professionals in venture capital, help Latino/a venture investors build their careers and networks, and improve access to capital for Latino/a-led venture firms. When venture investors are empowered to show up as their authentic selves, the flow of capital from limited partners to venture capitalists and ultimately to startup founders becomes more diversified, impactful, and representative of U.S. demographics. For additional information, visit

Aisera Announces Integration of its AI-powered Service Experience Solution with Zendesk’s Sunshine Platform

Caravanserai Project Announces 5th Seed Lab Pre-Accelerator Cohort