Black, Asian and minority ethnic (BAME) people are among the most entrepreneurial in the UK. According to the Startup Coalition’s December report, The Diversity Deficit, they are between 1.6 and 1.8 times more likely to “engage in early stage entrepreneurship” than their white counterparts.

But here’s the rub: between 2013 and 2023, BAME founders got just 9% of vc funding, despite making up 18% of the UK population. And it was even worse for Black founders in isolation, who received 0.9% of total investment value during that period. Black women? They secured just 0.14% of total vc investment.