Pride Month and the private market: Celebrating 3 trailblazing LGBTQ+ leaders
As Pride Month unfolds, it's a time to honor the resilience, innovation and leadership of LGBTQ+ individuals who have made significant contributions to the private market. These trailblazers have not only broken barriers but have also paved the way for a more inclusive and diverse business landscape. Their stories inspire and remind us of the importance of diversity and representation across industries.
Sam Altman: Pioneering AI with purpose
Sam Altman, CEO of OpenAI, stands at the forefront of artificial intelligence (AI) innovation. Openly gay, Altman has been a vocal advocate for LGBTQ+ inclusion in tech. In 2017, he was honored with the Ric Weiland Award at the GLAAD Gala San Francisco for his efforts in advancing LGBTQ+ acceptance in the tech industry.1
Under Altman's leadership, OpenAI has stood at the forefront of AI development.2 His commitment to diversity extends beyond his company; as president of Y Combinator, he supported startups that prioritized social change, including LGBTQ+ rights.3 Altman's investments in companies like Airbnb and Change.org further reflect his dedication to platforms that champion inclusivity.4
In his personal life, Altman's openness about his identity has been equally impactful. He married engineer Oliver Mulherin in January 2024, and together they have pledged to donate the majority of their wealth to philanthropic causes, underscoring a shared commitment to societal betterment.5
Peter Arvai: Championing diversity and inclusion one presentation at a time
In 2009, Peter Arvai helped co-found Prezi, a presentation software alternative to PowerPoint. He stands out as a trailblazing figure in the private market—not only for his innovations in presentation technology, but also for his leadership as one of the first openly gay CEOs in the tech startup ecosystem. Under Arvai’s guidance, Prezi grew from a Budapest-based startup into a globally recognized platform used by over 150 million people.6 His entrepreneurial success helped put Hungary on the global startup map, but just as importantly, Arvai used his visibility to advocate for LGBTQ+ inclusion in the business world—an uncommon stance in both Eastern European and Silicon Valley venture ecosystems at the time.
Arvai’s advocacy extends beyond his personal story. He co-founded WeAreOpen,7 a nonprofit coalition that encourages companies to support openness and diversity in the workplace. Through this initiative and his public leadership, Arvai has shown how private market success can be a force for cultural progress, challenging outdated norms and expanding the definition of what leadership looks like in tech. His work continues to inspire LGBTQ+ entrepreneurs and investors to pursue bold ideas—and to bring their full selves to the table while doing so.
Since his coming out to customers and colleagues in Hungary, many of Arvai’s fellow employees have also come out as LGBTQ, with many of them stating that it made it much easier for them to have a gay CEO. "I feel [being openly gay] challenges me to be a better version of myself," Arvai told the Financial Times in a 2018 interview.8 "The most effective thing anyone can do to encourage openness is being open with their own personal identity and being open to meeting people with other identities."
Arlan Hamilton: Blazing a new trail in venture capital
Arlan Hamilton is a trailblazer in the private market whose impact reaches far beyond traditional venture capital (VC) circles. As the founder and managing partner of Backstage Capital, she continues to redefine what inclusive investing looks like. Launched in 2015, Backstage was born out of Hamilton’s vision to invest in founders who are too often overlooked—women, people of color and LGBTQ+ entrepreneurs. What makes her journey even more compelling is that Hamilton built her firm from the ground up while experiencing homelessness, embodying the kind of grit and determination that defines great founders and great investors alike. Her presence in the private market challenges long-standing norms, proving that venture capital can—and should—amplify voices from all backgrounds.
As a black, gay woman in a space dominated by white, male investors,9 Hamilton brings a perspective that is both urgently needed and refreshingly unapologetic. She has not only invested millions into underrepresented founders10 but has also inspired a generation of LGBTQ+ individuals to see themselves as stakeholders in the startup ecosystem. Through her writing, public speaking and bold investment thesis, Hamilton continues to disrupt the status quo, showing that the private market can be a powerful engine for social equity when capital is directed with intention and courage. Her legacy is not just in the checks she writes—but in the doors she’s kicked open for others to walk through.
Final thoughts
The contributions of LGBTQ+ leaders like Sam Altman, Peter Arvai and Arlan Hamilton have significantly shaped the private market. Their dedication to innovation, inclusion and advocacy serves as an inspiration and a reminder of the importance of diversity in driving progress.
As Forge celebrates Pride Month, acknowledging and supporting the work of these trailblazers is not only a tribute to their achievements, but also a commitment to fostering a more equitable and inclusive private market future for all.
