Note: Investors should be aware that our minority founder data relies on a combination of founders self-reporting their identities and our analysts doing their own research. So these numbers may not reflect the entirety of minority founders who are raising money online. (KingsCrowd is always working on improving our data collection methods, and we’re open to feedback on this.) 

  • Of the 634 raises that went live this year between January 1 and May 31, 196 had at least one minority founder. This comes out to around 31% of raises.
  • The top five industries represented by minority founders through May 2023 are as follows:
    • Food, Beverage, and Restaurants
    • Business Services, Software, and Applications
    • Media, Entertainment, and Publishing
    • Consumer Products, Goods, and Services
    • Healthcare and Pharmaceuticals. 
  • The Food, Beverage, and Restaurants industry had the most minority-founded companies across all of the industries, with 32 companies total — approximately 5% of the total raises that went live between January and May 2023.
  • The Food, Beverage, and Restaurants industry also saw the biggest representation among self-identified LGBTQ+ founders.
  • Business Services, Software, and Applications companies had the second most significant representation, with 23 raises.
  • If you’re looking to support minority founders, you can easily filter using KingsCrowd’s company search tool. The search tool also allows you to filter by industry.
  • Many platforms will highlight minority founders as a tag on a company’s raise page — like Republic did with JuneBrain’s raise in the image below.

Note: All data on online startup investing used for the Chart of the Week comes from the KingsCrowd database and represents a snapshot of the U.S. crowdfunding market.