1863 Ventures Impact Report (2023)

“2023 was a year of turning tides. The Supreme Court struck down affirmative action in

academic settings, public institutions serving the Black community were sued, and the

reduction of DEI programs was rampant among the private sector.

While many individuals and institutions ran scared, 1863TM remained committed to

serving New Majority founders. Since our inception, we have been motivated not by

race but by the desire and commitment to equity, equality, and wealth through business

creation. We recognize that fear jeopardizes the United States' economic prowess.

In 2020, Citi produced a report that noted a GDP loss of $16T due to structural racism

in the US. More specifically, the study indicated that $13 trillion was lost in potential

business revenue because of discriminatory lending to African American entrepreneurs,

with an estimated 6.1 million jobs not generated as a result. Last time I checked, the US

could not afford such a loss with a gross federal debt burden of $34T.

We do this work because we believe that the historical and current contributions of

Black Americans and other communities of color form the foundation for the American

economy. From slaves as assets to Black founders as one of the fastest-growing

segments of entrepreneurs, 1863TM communities have been at the forefront of making

this country great and economically sound.

Reflecting on 2023, we are proud of our founders' work despite the daily headwinds and

friction points they face. We remain committed to supporting our founders because we

believe Black business is good business—for our communities, for our economy, and

for the world.” - 1863 Ventures