In today’s dynamic business landscape, access to legal counsel is crucial for the success and sustainability of any venture capital firm. According to a 2022 study by TechCrunch, 1% of all venture capital funding went to Black-founded companies — an estimated $2.3 billion of a total $215.9 billion. For women founders, the rate was slightly higher, at 1.9%.
However, Founder Dar’shun Kendrick recognizes that not all organizations have equal access to these resources, especially within underrepresented communities. That’s why she launched Project Esther with her firm, Kairos Capital Legal Advisors (KCLA). Project Esther is a bold move towards leveling the playing field by offering pro bono legal advice to three Black-led venture capital funds for one calendar year. By providing these vital resources, Kairos aims to empower these funds to navigate legal complexities confidently, enabling them to focus more on their core mission of driving innovation and fostering entrepreneurship within their communities. It also includes access to investment networks.
A way Project Esther can bring tangible benefits to their clients would be helping them navigate different legal climates. For example, the State of California passed a law mandating all VC firms must survey the companies in their portfolio each year. It measures demographics, including race, ethnicity, disability status, and gender identity. That data will then be made public in an online database. This is done in an effort to create an investment base that is more reflective of the population these companies serve.
Kendrick believes Kairos is perfectly positioned to make an impact. She says she is committed to paying it forward and creating opportunities for others, especially those who have historically faced systemic barriers.
“We are meeting the needs of VCs by providing strategic business and legal advice to navigate and prepare for the continued downturn in capital raising activity,” says Kendrick.
The deadline to apply is April 16th.
Kairos is a securities law firm and registered investment advisory firm providing comprehensive capital raising and investment legal advice and services. “Kairos” is Greek for “at the right time”. Dar’shun Kendrick is a Securities Attorney, Investment Advisor Representative, Business Coach, Public Speaker, and a member of the Georgia House of Representatives.