Scout programs have emerged as an instrumental tool for venture capital firms to engage founders, operators, and angel investors within their ecosystem to augment dealflow and provide unique perspectives.
Scout programs create an opportunity for those individuals to expand their networks, build an investing track record, and engage actively in the venture industry. Similar to the rest of the venture industry, scout programs have historically excluded Black individuals. Since scouts provide crucial deal flow and unique perspectives to their firms, the lack of Black representation not only hurts aspiring Black investors, but also venture firms.
The Scout Network program will take place over 6 months with 3 phases focused on education, community, and deal flow. BLCK VC will implement two cohorts of 15-20 scouts each year. Scouts from any firm are eligible to participate. 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.
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 some in-person events in the future. Each cohort may have a few aspiring, high-potential Scouts participate to help them connect to scouting opportunities.
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 a 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.
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.
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.
The BLCK VC Scout Network Program is primarily for existing scouts, although we set aside a few spots in each cohort to prepare aspiring scouts. All candidates must identify as Black or African American to participate in addition to the criteria below.
Must currently be a scout, which is defined as an individual that receives compensation for sourcing or investing in deals for a venture capital firm
Must be actively sourcing and vetting deals
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