A social activist and an entrepreneur remake the future of investing and business, offering a win-win road map for creating wealth and addressing inequalities by investing in groundbreaking tech companies that defy assumptions from Silicon Valley to Wall Street.
Companies backed by venture capital drive the U.S. economy, accounting for hundreds of billions of dollars in sales and profits. The problem is that most of the wealth created winds up enriching elites, while the businesses funded by venture capitalists widen economic inequality. Committed to doing things differently, tech venture capitalists Freada Kapor Klein and Mitch Kapor launched Kapor Capital to prove that investing in gap-closing startups--companies whose services or products close opportunity gaps for both communities of color and low-income communities--is good business. Over the past decade, they've broadened the definition of success to include profits and accountability for the impacts a business has on employees, communities, and the planet, helping to launch close to two hundred companies engaged in achieving social and economic justice while showing remarkable growth, with many valued in the hundreds of millions or billions of dollars.
Like every VC firm, Kapor Capital has experienced high-profile blowups and total losses. But its investing principles have created a stunning new ecosystem of Black and Latinx entrepreneurs, CEOs, and investors, all devising innovative, effective solutions to address the most pernicious problems afflicting many of America's poorest communities. In Closing the Equity Gap, Freada and Mitch share their core belief that all companies must make a positive impact and that the obstacles entrepreneurs overcome in life are a far better predictor of long-term success than the schools they attend or investment dollars they raise from friends and family.
Using stories behind some of the most remarkable companies ever launched, they show that the standard investment model doesn't work, how it can be fixed, and what the future could look like if more investors joined them.
About the Author :
Mitch Kapor is a pioneer of the personal computing industry and an entrepreneur, investor, and advocate for social change. As a founding partner at Kapor Capital, Mitch, along with his partner and wife, Freada Kapor Klein, invests in tech startups that close gaps of access, opportunity, and outcome for low--income communities and communities of color, and in founders committed to building diverse workforces and inclusive cultures.
Freada Kapor Klein is an entrepreneur, activist, and pioneer in the field of organizational culture and diversity.
Keyonni James is a well-read, self-proclaimed bibliophile with a love for historical and literary fiction, and a fetish for women's health. She unwittingly sweeps listeners along a narrative journey with her smooth and inviting sound. Her vocal dexterity keeps the listener wondering if it's the same person behind the mic, as she imbues each character and genre with a vocal quality and personality specific to the author's intent. Her personality is as light and warm as her gorgeous smile. Keyonni has formally trained and coached with leading industry narrators, and coaches and has trained at the Michigan Actors Studio. She is a fierce advocate and leader for diverse voices in audiobooks and is the creator of Voices of Color in Audiobooks (VOCA). Keyonni has an undergraduate degree in women's studies and international development and therefore she has a very keen understanding and affinity for women's and feminist studies and issues. She holds a Master of Public Health from the University of Pittsburgh and is very comfortable narrating work with medical and scientific terminology; these two degrees intersect in her love of women's and maternal child health advocacy. Keyonni was a study abroad student in India, and was a Peace Corps volunteer in Botswana, where she lived, working on issues around HIV/AIDS and development. She lives in Michigan and enjoys hanging out on any of the Great Lakes during the summer as well as RVing. When she's not working or narrating you will find her trying to get in some leisurely reading!
Review :
"This essential read for investors and activists illustrates the many intersections between smart investing and economic and social justice. It is a roadmap for shifting the standard investment model to address issues such as income inequality and the climate crisis."
-- "Al Gore, former US vice president and co-founder and chairman, Generation Investment Management"
"This playbook is not only for the technology and the VC community but also for leaders in all industries, who want to level the playing field for entrepreneurs of color."
-- "Carla A. Harris, senior client advisor, Morgan Stanley, and author of Lead to Win"
