Chicago VCs get more diverse, but still behind nationally

Jan 19, 2022 - Business

Justin Kaufmann

Chicago's tech industry saw a record year for fundraising, but a new study says it lags behind other cities when it comes to diversity.

Why it matters: According to the annual VC Diversity Survey from Chicago:Blend, 2021 did see growth in both minorities and women working in venture capital, but Chicago is still behind national averages.

What they're saying: "Although we are pleased that the share of underrepresented professionals working in Chicago's venture industry increased last year, we know that much more needs to be done to bring greater equity to this sector," says Joey Mak, executive director of Chicago:Blend. "Especially given that Chicago is demographically more diverse than the nation as a whole."

Survey takeaways: Latino professionals saw the biggest spike from 2020 to 2021, with an 80% increase in the VC workforce. They now represent 4.3% of Chicago's total VC employees, lower than the national average of 7%.

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