Measuring the Representation of Women and Minorities in the SBIC Program

The goal of this report is to contribute to a growing body of knowledge about gender and racial diversity in the venture-capital (VC) and private-equity (PE) arenas using data collected exclusively by the SBA under the Small Business Investment Company Program. The report addresses key questions comparing the diversity and performance of SBICs with the broader VC and PE community, and asks whether diverse SBICs are more likely to invest in diverse portfolio companies or in low- and moderate-income communities.