Most large, public companies today, including Bank of America, have been increasingly vocal about their efforts to improve minority representation, diversity and equity in their businesses. As minority entrepreneurs initially try to launch their businesses, they’re facing a disproportionate number of hurdles and funding acquisition challenges.

HI Mark Capital Managing Partner, Herbert Drayton III, joins us today to delve into some of these issues. His North Charleston based venture firm invests in black-owned, women-owned and other minority-owned businesses, with the financial impact mission to empower and fund minority businesses. He addresses some of the disadvantages minority entrepreneurs face, including lack of clearly defined expectations from investors and emerging from a different ecosystem than the Silicon Valley investors.

In this fourth episode of our December mini-series on funding hosted by Lauren McIntosh, Herbert helps define the problem and explain specific funding challenges and misconceptions minority entrepreneurs encounter. He suggests finding a reputable, transparent mentor to provide direction in the early stages. Listen here for more of his recommendations about what business leaders and investors can do to make an impact.