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81% of VC firms don’t have a single black investor — BLCK VC plans on changing that

Venture capital has a diversity problem . BLCK VC , a new organization founded by Storm Ventures associate Frederik Groce and NEA associate Sydney Sykes to connect, engage and advance black venture capitalists, is ready for a new era in the industry. Their mission: Turn 200 black investors into 400 black investors by 2024. “We think of ourselves as an organization formed by black VCs for blacks VCs to increase the representation of black investors,” Sykes told TechCrunch. “You can look around and say well ‘I know five black VCs,’ but you can also say this firm does not have a single black VC, they may not even have a single underrepresented minority … We want to make firms reckon with the fact that there is a racial diversity problem; there is a lack of black VCs and every firm should really care about it.” BLCK VC has been at work since the beginning of 2018, building and expanding a network of black investors in the San Francisco area, Los Angeles and New York. They seek to provide a...
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The scooters arrive in Australia

The scooter startups are taking over the world — or trying to.


Earlier this week, Bird debuted its electric scooters in London’s Queen Elizabeth Olympic Park; today, Lime is announcing its foray into the land down under with the launch of a three-month scooter pilot at Monash University in Melbourne, Australia.


Lime has also released several hundred of its dockless electric bikes in Sydney and plans to introduce its scooters there, as well as in Brisbane, soon.


“Sydney’s need for innovative transport solutions, which cater to the first and last mile, gives us confidence we will see high uptake of Lime electric bikes within the community,” said Mitchell Price, Lime’s director of government affairs and strategy in Australia and New Zealand.


The company is also announcing that it’s clocked in 20 million rides just two months after it surpassed 10 million.


Using the nearly half a billion dollars it’s raised to date, Lime is rapidly expanding across the globe and filling out its C-suite. Last week, it brought on David Richter as its first-ever chief business officer, followed by the appointment of GV general partner Joe Kraus as its chief operating officer.


Headquartered in San Francisco, the startup is backed by GV, Andreessen Horowitz, IVP, Section 32, GGV Capital and more.

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