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business7h ago
Latino-owned businesses grow, but venture capital remains an issue
- Latino-owned businesses rose about 48% from 2017 to 2023, driven by growth in several sectors.
- California and Florida lead the creation of Latino-owned firms, with many operating internationally.
- Early-stage venture funding for Latino founders remains extremely small, under 2%.
- Isabel Aznarez of Stoke Therapeutics describes being one of the few Latinas in fundraising rooms.
- The 11th Annual State of Latino Entrepreneurship Report underpins the study’s findings.
- Launchers say access to capital remains a top challenge for smaller Latino-owned firms.
- Tech remains a notable focus within Latino entrepreneurship, despite funding gaps.
- Stoke Therapeutics is highlighted as an example of capital-intensive Latino-founded biotech.
- The report emphasizes networks as key for early fundraising for Latino founders.
- Overall growth and capital challenges are set against a backdrop of international expansion for Latino-owned firms.
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