I've seen this happen as well. As a black male CEO of a VC-funded startup, I've also seen it happen to me in a slightly different way. I gotta hype up the nerdiness, the glasses, and casually name-drop my college degree just to help those around me not embarrass themselves by assuming "I'm not the guy writing the code". Unfortunately, I'm quite used to this though and rarely think to share this experience with anyone because this has been My Whole Life.