It is not that they have been systematically discriminated against; it is that they are being systematically discriminated against with this very fund. Let's get this straight: You are not cleared of being racist if you are discriminating against a group you deem as "in power". It is simply your careless redefinition of the word racism to apply not to ethnicity or nationality, but to power. This redefinition clears those not in power from being called racist when they explicitly discriminate on racial grounds.

The reason why the majority of funded founders are white men is because white is the majority color in places where there is the most VC money, and men are less risk averse, especially in the more extreme male personality types.