"When you look at the statistics when it comes to Black women founders, yes, I am an anomaly," says Denise Woodard, CEO and founder of Partake Foods. "If Marcy Venture Partners hadn't invested in us, we wouldn't be where we are today."
Companies led by Black women typically receive less than 1% of all venture capital funding, according to Crunchbase. During the Diversity Tipping Point in May 2020, the period when corporate America acknowledged that Black Lives Matter, there was a significant investment in diversity, equity and inclusion (DEI) initiatives. It also correlated with an uptick in VC funding for Black-founded and led start-ups. Then the ensuing DEI backlash happened, so the investments didn't last long. According to Crunchbase, financing for Black founders dropped 45% in 2022.
Since founding her business in 2016, Woodard has raised more than $25 million in capital. In the past two years, Partake Foods, a consumer products goods brand offering delicious and better-for-you snacks free of the top nine allergens, has achieved 69% revenue growth. The company has increased distribution from 6,000 doors to 14,000 doors. She has built an incredible business, receiving industry accolades, a loyal consumer following, high-profile partnerships and more investors knocking on her door. And yet, Woodard........