Welcome to 20/30 Visions, a new Bridges series in which we ask experts and thought-leaders from around the globe: what needs to change if we want to build a more sustainable and inclusive future in the next decade? And how do we make that change happen?

In this episode we’re focusing on a critical aspect of building a more inclusive economy: ensuring that more funding flows to businesses led by diverse founders. The stats are stark: although venture capital investment hit record highs last year, businesses led by black, Latinx and female entrepreneurs accounted for a disproportionately small amount of this – low single digit percentages at best. According to Morgan Stanley, this means we are missing out on a $4 trillion opportunity in the U.S. alone!

To discuss how we can fix this, we’re delighted to welcome Kim Folsom, CEO of US-based Founders First Capital Business. A successful entrepreneur in her own right, Kim is now focused on using revenue-based financing to help over 1,000 diverse entrepreneurs access the capital and knowledge they need to build sustainable businesses. In our interview, we discuss:

• Her own journey as an entrepreneur,, and the challenges she had to overcame
• The scale of the capital gap facing diverse founders, and why it exists
• The disadvantages of traditional debt funding for communities of color (and the benefits of revenue-based financing)
• The need for more education and awareness-building
• Why funding diverse founder-led businesses is not about philanthropy
• And more

Watch the interview here:

Or you can download Kim’s insights to read as a PDF here