August 29, 2017
DONALD WHO?:
Investors Go Where Trump Won't: To Immigrant Entrepreneurs : A new crop of venture capitalists is specifically backing companies that have international founders. (Elizabeth Woyke August 29, 2017, MIT Technology Review)
These are tense times for foreigners who want to live and work in the U.S., due to President Trump's aggressive remarks and stringent policies about immigration. But skilled immigrants who want to start companies in the U.S. are finding support in a group of venture capitalist investors who aim to ease their challenges.Such assistance can be crucial to immigrant entrepreneurs because the U.S.--unlike Canada, France, Singapore, and the U.K.--lacks a so-called startup visa. In July, the Trump administration delayed an Obama-era rule that would have helped international founders stay in the U.S. for up to five years and has indicated it plans to rescind it. In its absence, several VC firms that explicitly invest in companies created by immigrants are filling some of the gaps.Though these firms, which include Unshackled Ventures, One Way Ventures, and One VC, were not created in direct response to Trump's actions, their focus on aiding immigrants is particularly timely and vital now. "As immigration issues pop up, we're seeing VCs answer the call and offer immigration counsel [to their portfolio companies]," says Jeff Farrah, vice president of government affairs at the National Venture Capital Association, a Washington, D.C., trade group.
Posted by Orrin Judd at August 29, 2017 7:15 AM
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