The Los Angeles Business Journal shared findings from a UCLA Luskin report that analyzed the diversity of venture capital investments in the Los Angeles region in 2022. While Greater L.A. leads the country for the amount of capital funded to entrepreneurs from diverse backgrounds, progress in meeting racial and gender equity goals is lagging, according to the report led by Jasmine Hill, assistant professor of public policy. Hill’s team produced the report in partnership with PledgeLA, the Annenberg Foundation’s coalition of Los Angeles-based tech and venture capital firms that have committed to prioritizing equitable access to capital. The researchers found that less than one-third of PledgeLA firms’ 2022 investments went to companies led by women, Black or Latino founders, and these companies received only 4.6% ($6.4 billion) of the $139 billion invested. “If we’re being honest, it’s still way below where any of us would want it to be,” one founding member of PledgeLA said.