Somosvc

Somosvc is a nonprofit organization legally recognized as a 501(c)(3) entity in the United States. Its mission is to increase the representation of Latinx professionals in the venture capital industry. The organization achieves this by providing educational resources and career development opportunities tailored to Latinx individuals interested in entering the venture capital sector.

Background

Somosvc is headquartered in San Jose, California. It focuses on supporting the careers and networks of existing Latinx venture investors and improving access to capital for Latinx-led venture firms. By promoting diversity in venture capital, Somosvc aims to create a more inclusive financial ecosystem that reflects U.S. demographics.

Programs and Services

Somosvc offers several programs designed to support Latinx professionals:

• Fellowship Program: An 8-week program designed to equip participants with the tools and community needed to secure roles as analysts, associates, or senior associates at venture capital firms. The program includes mentorship by seasoned VC investors and hands-on learning experiences.
• Mentorship Program: Connects junior Latinx professionals with experienced venture capital experts to foster career growth and industry insights.
• Events: Hosts various events and summits, including the Avanza Summit and Annual Summit, which provide opportunities for networking, education, and career advancement.

Impact

Somosvc contributes to significant changes in the venture capital landscape by:

• Increasing Latinx representation in the industry, which is currently underrepresented.
• Facilitating access to capital for Latinx-led firms, thereby supporting diverse founders and creating jobs.
• Promoting diversity and inclusivity in the broader venture capital ecosystem.

Financial Information

As of 2022, Somosvc reported a revenue of $152,141. The organization relies on donations to support its initiatives and does not charge fees for its programs.

Governance

Mariela Salas serves as the Executive Director/Secretary of Somosvc. The organization is governed by a structure that ensures operational transparency, as evidenced by its compliance with Form 990 submissions.

Somosvc plays a pivotal role in shaping the future of venture capital by empowering Latinx professionals and fostering a more diverse and impactful investment landscape.

[1] https://givefreely.com/charity-directory/nonprofit/ein-863684224/ [2] https://www.somos.vc [3] https://latinxvcs.substack.com/p/somosvc-february-newsletter-big-wins [4] https://www.somos.vc/programs/fellowship [5] https://www.somos.vc/archive/community