Six families

1 min read · February 14, 2025
New Power Labs

A founder often depends on their friends and family to raise their first round of financing to build their venture. 

In the US, the average friends and family round for a founder is $23K (Fifth Star Funds, 2023). However, the average liquid wealth of a Black family is only $3,630 (United States Census, 2019). 

According to Fifth Star Funds, that means for a Black entrepreneur to raise the average friends and family round, they would need to secure the entire liquid wealth of 6 Black families combined. 

When the opportunity to build is dependent on the wealth of your network, we leave a lot of talent and prosperity untapped.

Narinder

New Power Labs

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