The First 200 Index was built through a multi-source research and verification process designed to create the most accurate historical record of Black women venture-backed founders in the United States. Each founder was researched across Crunchbase, PitchBook, founder and investor interviews, LinkedIn profiles, company websites, prior founder lists, and venture capital databases.

​

To be included, every founder had to meet a strict verification standard. The qualifying funding round had to be confirmed through a publicly available source, including a company announcement, investor press release, reputable media coverage, SEC filing, or other verifiable public record. In cases where information was incomplete or conflicting, additional founder or investor verification was required.

 

Founders were required to publicly identify as Black women, be a founder or co-founder with a meaningful equity stake at the time of the qualifying raise, and have raised at least $1 million in a single venture capital round backed by one or more institutional investors. Eligible investors include traditional venture capital firms, corporate venture funds, and institutional seed-to-growth-stage funds.

 

To ensure consistency, only companies headquartered in the United States at the time of the qualifying round were included. While this Index represents the most comprehensive record assembled to date, it is intended to be a living archive and will continue to evolve as new information becomes available.