Less than a year after taking up the role, the managing director of All Raise Mandela SH Deacon she retired from her post at a non-profit organization. The entrepreneur, who previously ran Founder Gym, an online training center for underrepresented founders, said in a blog post that the decision was made after she realized her passion was “being on the ground working directly with entrepreneurs.” Dixon said she will explore new opportunities accordingly.
Her resignation is effective February 1, 2023. She will remain an advisor to the Bay Area-based nonprofit.
This is the second CEO to leave All Raise since it was first founded in 2017. In 2021, Pam Kostka stepped down as the nonprofit’s helm to rejoin the startup world; Kostka is now a resident operator and limited partner at Operator Collective, according to her LinkedIn. With Dixon gone, Paige Hendricks Buckner, who joined the company as chief of staff nine months ago, will step in as interim CEO. In the same blog post, Buckner wrote that “Mandela leaves All Raise in a strong position, and I am grateful for the opportunity to continue the hard work of diversifying the VC-backed ecosystem.”
Dixon did not immediately respond for comment on the record. It is not clear whether All Raise is immediately launching a permanent executive search.
The nonprofit has historically defined its goals in two ways: first, it wants to increase the amount of seed funding going to female founders from 11% to 23% by 2030, and second, it wants to double the percentage of female decisions. manufacturers in American companies by 2028.
In previous interviews, Dixon said the company will work to create explicit goals around what impact it wants to have on historically overlooked individuals. The data underscores the challenge ahead. Black and Latina women receive disproportionately less venture capital money than white women; Non-binary founders can also face greater hurdles when seeking funding, as All Raise board member Eileen Lee noted in a blog post. The nonprofit has created special programs for black and Latino founders, but has not yet revealed a specific target for the cohort. These breaks can be lost if not followed. All Raise’s last impact report was published in 2020 and they are working to bring that analysis back, Lee says TechCrunch in an interview.
“All Raise is in great hands with Paige as interim leader and we have many exciting things we are shaping and developing,” Lee said. “We all need to continue to join hands to try and continue to improve our industry … We’ve made good progress that we can’t let go.”
Since launching, the nonprofit has raised $11 million in funding and opened regional chapters in New York, Boston, Los Angeles, Chicago, Washington, D.C., and, soon, Miami.