West Coast
Angel Network
A purpose-driven network of Angel investors driving forward diversity representation on the cap table
We know inclusion and diversity matters. And yet: diversity is still not represented equitably in most positions of influence.
The current state of diverse representation in venture capital is lacking...
Studies demonstrate that unconscious or implicit biases negatively affect Black, Indigenous, and people of color (BIPOC) in all structures and institutions of American society, including those who make decisions on the use capital. 1
According to a 2017 report, investment firms owned by women and people of color manage less than 1% of the $70 trillion in US assets under management despite the fact that 70% of the US population represent women and BIPOC. 2
Funding offered to women-owned startups before the pandemic was lower than their male counterparts, and the pandemic has only exacerbated the issue. According to CrunchBase, women-only founded ventures only received 2% of funding dollars in 2020, with the historical peak year being at 7% in 2018.
Analysis of 142K founders and 95K high-growth companies across the United States between 2000 to 2022 found that only 0.5% of the $2.1T in startup funding was raised by LGBTQ+ founders while nationwide 7.1% of the population identifies as LGBTQ+.3
Why does this matter?
Diversity reduces unconscious/ implicit bias and contributes to economic growth by increasing the talent pool, fostering innovation, and promoting better decision-making within organizations.4
Diverse teams are more likely to consider multiple viewpoints and approaches, which can lead to better decision-making and improved outcomes.5
Diverse shareholder representation and active participation in venture investing leads to increased diversity in board directors, advisors and leadership.
Promoting diversity is an essential part of working towards a more just and equitable society, where all individuals have equal opportunities.6
We want to help close the gap. Through an investor-led model, members learn the investment process through hands-on experience in a risk-managed forum while expanding their network of like-minded professionals. With a focus on culture and representation, we strive to create an inclusive, supportive and fun learning environment for underrepresented peoples and allies within the venture capital ecosystem. As the Managing Partners, we take no fees or carry: like our investors, we're here to learn, have fun, expand our networks and return a profit on our investments.
Our Partners
We are so grateful to our network of supporters for helping us to achieve our vision. If your organization would like to know more about our experiences, and/or would like a warm connection to any of our partners, please email us!
We are so grateful to Katrina Paddon and Gemini Strategy & Governance for the expertise, diligence and many hours of effort put in to WeCAN. From corporate entity establishment to developing our governance processes, Gemini's support has been integral to our success.
We have so much gratitude for Emily Wu's diligence, knowledge, patience and kindness in helping us to draft appropriate contractual documents for WeCAN's unique investor-led model. We're thrilled to share our partnership and experience with Emily and Lumia as a trusted legal advisor.
We are so excited to partner with Finally for our Fund Admin. From values alignment to customer service, we can't say enough great things. Justine Baity, Darryl Bandoro, Sky Fernandes and Jenna Fernandes - thank you and we look forward to our journey together!
We are so grateful to Masha Herzbrun and Sensiba for their generous time and provision of high-quality tax advice as we work to establish WeCAN.
Contact Us
If you align with our vision, values and culture, and meet our criteria for members or potential investees (as relevant), we invite you to reach out to us using the links below. Note that all potential investees must submit an application to be considered for funding. For any other enquiries, please email us.