
Andreessen Horowitz launches $2.2M fund to invest in underserved founders - tr33house
https://techcrunch.com/2020/06/03/andreessen-horowitz-launches-2-2m-fund-to-invest-in-underserved-founders/
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dzonga
as a black person in tech. this is the wrong move. what's 2m to a fund like
AH. if this program is to work, they need to invest in the community i.e
scholarship funds or dinners etc - have people of color like me interact with
VC's on the regular. my disdain for VC's as they're more like vultures these
days. most people of color suffer from the lack of opportunity - n the lack of
opportunity starts at a grassroots level. I have been privileged enough to be
able to afford college get a CS degree, work at tech companies. not be
arrested etc. but most people with the color of my skin are not. also
scholarship funds need to like a machine gun - not based on some artificial
merit metric.

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jjeaff
I think it's offensive. I thought surely the m was supposed to be a b. But
nope, the $12B gorilla in VC launched a tiny $2.2m fund. Not even enough to
fund a single round in a single company at the levels they usually fund. I
hate to down a good idea. But at least make an effort. Is this all that one of
the biggest VC firms on the planet can muster?

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redis_mlc
AH is clearly doing this as a counter to YC.

On the one hand, it doesn't sound like much, but on the other, 2000-era angel
investments were really small - $25k - $50k were typical.

(Woz's seed funding to Google was $100k.)

Also, VCs are really into larger, later-stage investments this decade, usually
more than $2 million per startup.

Having said that, $2.2 million is like 8-9 senior engineers in SV for a year,
so not much.

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enonevets
Not to detract from the point but I never heard of Woz funding Google.

As far as I know, first $100k (and only seed round) was funded by Andy
Bechtolsheim, co-founder of Sun Microsystems.

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1cvmask
The underserved fund for the underserved founder.

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0zymandias
"A16z has $12 billion in assets under management across its funds, so a $2.2
million fund is not groundbreaking from a monetary perspective"

The math comes out to 0.018%.

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joejerryronnie
They should invest in establishing local VC firms in underserved communities.

