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Axios' Ina Fried (L) and Precursor Ventures Managing Partner and Founder Charles Hudson. Photo: Axios Screenshot

The venture capital firms that have best responded to widespread conversations about systemic racism have focused on their own hiring and funding standards and not public praise, Precursor Ventures Managing Partner Charles Hudson said at an Axios event virtual Tuesday.

The big picture: Hudson said some firms have reached out to him for advice on how to provide funding to a more diverse set of recipients. Progress will only come once those firms conduct rigid re-examinations of processes for hiring, retention and how they determine who gets funding, Hudson said.

Venture capital firms with more diverse staff will attract diverse founders to fund, Hudson said.

  • "It's a strong signal to black and brown founders when you look at a webpage, or you look in an industry, and they see there's almost no one who looks like me. I think it sends a pretty strong signal to founders that perhaps I'm not welcome here."
  • Hudson also said Black venture capitalists can influence founders and help them connect to untapped talent.

Watch the event.

Go deeper

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.

13 hours ago - Politics & Policy

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.