Last month, on behalf of our work at Supply Change Capital, Noramay Cadena participated in the second Latino Venture Capital Summit at The White House hosted by the Office of Public Engagement and Office of Intergovernmental Affairs. Colleagues and friends came together for a roundtable conversation with top Biden Administration officials from the U.S. Department of the Treasury, U.S. Economic Development Administration, U.S. Small Business Administration, White House Office of Science and Technology Policy, Federal Retirement Thrift Investment Board. 💪🏽 Latinos make up 19% of the US population, represent $3.2T GDP, and Latino-owned businesses contribute $800B annually to the US economy. On the other hand, Latinos manage only 1.4% of the ~$85T dollars in the asset management industry and the number of Latina-owned venture capital firms is <50 across the country. During the Summit, topics including how to create an institutional capital investing marketplace that provides equal access to opportunities to the best fund managers were discussed. Thank you Director Tom Perez, Taylor Wright and Janis Bowdler for facilitating the conversation, and thank you to all the Biden Administration officials for participating: Justina Gallegos, Stacie Olivares, Bailey DeVries, Carolina Ferrerosa Young, Ph.D., Michael H., Tonantzin Carmona, Andrea M. O'Neal, Vincent Cordero among others.
