The panel brought together investors and civic leaders to address a persistent problem: capital tends to flow toward familiar faces, leaving diverse founders underserved and investors with lower returns. The fix starts with exposure—getting underserved founders into rooms, onto campuses, and into conversations where venture capital feels like a real option. Durham, ranked #2 among the most resilient, future-ready cities, is well-positioned to lead that charge.
For founders, the panel was direct: know what you’re building and who it’s for. Not every company is venture-backable, and figuring that out early saves your most precious resource: time. When you do raise, raise enough (18–24 months of runway) to actually hit your milestones. Under-raising is a trap, especially for founders already conditioned to do more with less.
The closing note was simple: money follows relationships. Choose investors who bring expertise and networks, not just a check, and make sure your passion has a business model behind it.
Thank you to panelists Leonardo Williams, Zakiya Lee, and Doug Speight for providing their valuable knowledge of the venture ecosystem.
Leonardo Williams: Mayor Leonardo Williams was sworn in as Durham Mayor in December 2023 after an impactful career as a teacher and administrator. He is also an alum of North Carolina Central University, where he received his bachelor’s in music education and master’s in educational leadership.
Zakiya Alta Lee-Hill is a Principal at Idea Fund Partners, an early-stage venture capital firm investing in high-growth technology companies. She plays a leading role in deal evaluation, founder support, fundraising, and expanding the firm’s strategic network.
Doug Speight is CEO of AxNano, a venture-backed developer of innovative equipment platforms that capture and destroy PFAS “forever chemicals” and a broad range of other complex waste streams for military and commercial chemical customers.
Thank you to Brooks Malone and Ryan Keating at EisnerAmper for making the Durham Summit possible.
