Editor's note: This is the third in our series examining diversity in venture capital. Read the first story here, our second one here and sign up for our newsletter to get the latest updates.

For all the well-intentioned talk on social media and beyond about the need for diversity and inclusion after the killing of George Floyd, there is one thing that speaks louder than anything else in venture capital: Money.

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Editor's note: This is the first in our series examining diversity in venture capital. Read the second and third stories here and sign up for our newsletter to get updates.

The nationwide protests in response to the killing of George Floyd led to a flurry of discussions and self-reflection in the overwhelming white male world of venture capital about what needs to change to make the industry more diverse. While many VCs were quick (or not so quick) to take to social media to say they support diversity or attend webinars on inclusivity, meaningful concrete action has been less common.

"The venture field has been probably the slowest to let minorities and women in," said Sue Toigo, co-founder of the Toigo Foundation, which helps underrepresented minorities get careers in finance. "It has the worst record of all asset classes."

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