Announcing the BLCK VC Scout Network!

BLCK VC is thrilled to announce our newest program to train and empower the next generation of Black investors, the BLCK VC Scout Network! We are proud to be launching this program alongside its Founding Partners Lightspeed Venture Partners and Sequoia Capital. As Founding Partners, Lightspeed and Sequoia will bring their extensive experience building scout initiatives to the program. They will share educational curriculum, provide partners from their firms as speakers and instructors, and engage their communities to ensure that Black scouts are equipped with the skills, knowledge, and networks they need to succeed. They are joining BLCK VC and our other Lead Sponsors, GV (formerly Google Ventures), Capital G, and Salesforce Ventures on the journey to make venture capital more inclusive.

The BLCK VC Scout Network is a continuation of our commitment to systematically change venture, and the broader tech industry, into an engine for equitable economic growth and opportunity. This program builds on the momentum created through our other programs, including Black Venture Institute, Breaking into Venture, and NYC Path to empower the next generation of Black check writers.

Across the venture industry, scout programs have emerged as an instrumental tool for venture capital firms to engage founders, operators, and angel investors within their ecosystem to augment deal flow and provide unique perspectives. Scout programs create an opportunity for those individuals to build an investing track record, expand their networks, and engage actively in the venture industry. Similar to the rest of the venture industry, scout programs have historically had low representation from Black individuals. Since scouts provide crucial deal flow and unique perspectives to these firms, the lack of Black representation not only hurts aspiring Black investors but also venture firms.

Through the BLCK VC Scout Network, we will equip existing and aspiring Black scouts with best practices taught by luminary investors, deep networks across the venture and tech ecosystem, and a community of supportive, Black peers to uplift and empower each other. This is how we are building the community for the future of venture capital.

Program Overview:

The BLCK VC Scout Network Program is a 6-month program, separated into 3 phases. BLCK VC will implement two cohorts of 15–20 scouts each year, with the first cohort launching this June. After completing the training program, Black scouts are invited and encouraged to participate in community convenings to connect with other scouts and further expand their networks. The program will be hosted virtually, with the opportunity for in-person events in the future. Each cohort will be composed of current and high-potential aspiring scouts, to ensure we’re expanding the pool of Black check writers in the ecosystem. Scouts will not be allocated funds through the program to invest but will leave with the education and community they need to be strong scout investors.

Phase 1: June 14th — July 2nd

The first phase of the Scout Network Program will be an intensive four-week curriculum that dives into topics such as deal sourcing, due diligence, and winning deals as a scout. The format of these sessions will be a weekly training and speaker session followed by bi-weekly Deal Group meetings, which will be small groups of scouts organized to share insights, deal flow, and connections. These sessions will all be hosted virtually.

Phase 2: July 19th — November 5th

Following Phase 1 of the program, the Scout Network Program will host monthly convenings with leading venture firms for educational and networking dinners. The Deal Groups will continue to meet bi-weekly during Phase 2, which will last 5 months.

Phase 3: November 19th

The final event in the BLCK VC Scout Network will be an in-person convening (public health guidance permitting) through which we’ll convene current and former Scouts, leading Black investors, our Founding Partners, VC firms, and other ecosystem supporters to celebrate the completion of the program, facilitate deeper connections into the ecosystem for the Scouts, and build a sense of continuity between the cohorts of the Scout Network Program.

Eligibility:

The BLCK VC Scout Network Program is mainly for existing scouts, although we are setting aside a few spots in each cohort for aspiring scouts. All scouts from any firm are eligible to join this program, not just those associated with Sequoia and Lightspeed Venture Partners. All candidates must identify as Black or African American to participate. Eligibility criteria is below:

Existing Scouts:

• Must currently be a scout, which is defined as an individual that receives compensation for sourcing and investing in deals from a venture capital firm
• Must be actively sourcing and vetting deals

Aspiring Scouts:

• Must actively be seeking to become a scout
• Preference is given to candidates that are actively looking for deals, either as an angel investor or as an informal scout
• Preference is given to candidates that are emerging from the Black Venture Institute Program

To apply, please visit the BLCK VC Scout Network page to learn more and apply. The deadline for applications is May 23, 2021, at 11:59 pm PST. If you have any questions, please reach out to Scout@blckvc.com