Reports

Access to Capital for Entrepreneurs: Removing Barriers (2023 Update)

By the Kauffman Foundation

The Kauffman Foundation continues to recognize, with urgency, the significance of the role new and existing businesses play in local, regional, and the national economy. This report continues our series of sharing the state of capital access for entrepreneurs highlighting the need for innovative products and models to improve capital delivery systems.

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Access to Capital for Entrepreneurs: Removing Barriers (2021 Update)

By the Kauffman Foundation

The need for access to opportunity, funding, knowledge, and support is greater than ever before to ensure that historically underserved entrepreneurs are able to access the capital required to survive and thrive. This report explores the work we have embarked on to generate more innovative and effective ways to support entrepreneurs in accessing capital.

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Access to Capital for Entrepreneurs: Removing Barriers (2019)

By the Kauffman Foundation

Lack of access to capital is often cited as one of the primary barriers entrepreneurs face in starting or growing a business. This report surveys the current knowledge landscape regarding access to capital with an eye towards innovative concepts for improvement to capital access systems.

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Deconstructing the Pipeline Myth and the Case for More Diverse Fund Managers

By Marlon Nichols, MaC Venture Capital
Collin West, Kauffman Fellows
Gopinath Sundaramurthy, Kauffman Fellows

In a novel approach to studying ethnicity in startups, we leveraged software to analyze the faces of startup executives to gather empirical answers. More specifically, the Kauffman Fellows Research Center analyzed the profile images of 260,000+ startup founders and executives in the United States using publicly available demographic models created by Clairifai.

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Emergence of New Capital Providers – Exploring Alternatives to Traditional Expectations and Structures

By Impact Terms

Through our analysis, we learned that funds investing in underserved entrepreneurs through alternative investment structures are often nimble investment vehicles that operate in the very early stages of the portfolio companies’ development, really enabling these companies to raise the first essential capital to fuel their growth.

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Finding the Right Financing for Your Capital Needs

By Lighter Capital

Learn about the startup fundraising options available today, and how to compare each option based on your company’s stage.

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Guidelines for Equitable Employee Ownership Transitions

By Jessica Rose, The Democracy Collaborative
Hilary Irby, Soros Fund Management
Marjorie Kelly, The Democracy Collaborative
Robin Varghese, Open Society Foundations

A collaborative project of practitioners and thought leaders in the fields of investment management, employee ownership, and socially responsible business who believe deeply in the promise of shared enterprise ownership to build a more just and inclusive economy.

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Race influences professional investors’ financial judgments

By Sarah Lyons-Padillaa, Stanford University
Hazel Rose Markus, Stanford University
Ashby Monk, Stanford University
Sid Radhakrishnac, Illumen Capital
Radhika Shahc, Illumen Capital
Daryn Dodson IV, Illumen Capital
Jennifer Eberhardta, Stanford University

Of the $69.1 trillion global financial assets under management across mutual funds, hedge funds, real estate, and private equity, fewer than 1.3% are managed by women and people of color. Why is this powerful, elite industry so racially homogenous?

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The Equity Capital Gap for Entrepreneurs of Color in Chicago

By Charisse Conanan Johnson, Next Street
Joan Spirytus, Next Street
Cristina Yoder, Next Street
Spencer Lau, Next Street

History tells us that entrepreneurs of color are disproportionally affected by recession and times of economic hardship. And while it’s important that small business owners have access to a range of debt and equity financing options and data show that entrepreneurs of color face more barriers to accessing capital across this full financing continuum than do their White counterparts, this report focused on the particular challenge associated with equity and equity-like capital.

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The New Face of a Founder

By Lauren Washington, Black Women Talk Tech
Brittany Kendrick, Black Women Talk Tech
Dulari Gandhi, Michael & Susan Dell Foundation

Black women are building valuable products and businesses with scalable market opportunities.

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The Rise of Revenue-Based Financing

By Lighter Capital

Discover why startups are increasingly turning to alternative financing options like revenue-based financing.