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Illustration: Lazaro Gamio / Axios
A group of Latino venture capitalists in the Bay Area have formed an organization called LatinX VC to help peers advance or start their careers, raise new venture funds, and connect with limited partners in Latin America.
The big picture: Latinos make up just 1% of the America's venture industry, despite widespread conversation about increasing diversity.
LatinX VC drew inspiration from organizations like All Raise and BLCK VC, founding member and Unshackled Ventures principal Maria Salamanca tells Axios. It plans to host various member events throughout the year and expand to cities like Miami and Los Angeles.
- She adds that there are a growing number of Latin America-based family offices and other institutional investors seeking to back new U.S. venture capital groups and cross-border funds.
- LatinX members needn't invest in Latin America-based startups, but the region is included among the organization's focus areas.
Go deeper: The (slowly) changing face of VC's next generation