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Biden-Harris Administration Commit $32M To North Carolina Women- And Minority-Led Venture Capital Firms

The Biden-Harris Administration is directing millions of dollars toward entrepreneurs located in North Carolina. On Friday, March 1, Vice President Kamala Harris visited Durham, NC, to shed light on a $92 million plan to invest in historically underserved small businesses and entrepreneurs, according to Technician, North Carolina State University’s student newspaper. Harris was greeted by Gov. Roy Cooper during an event at the city’s historic Black Wall Street, in which she revealed 10 North Carolina women- and minority-led venture capital firms will be given $32 million in federal funds. The financial commitment will be provided through the U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI), and awardees include Nex Cubed (Founders Fund); RevTech Labs (majority female and Latina-owned entrepreneurship center and accelerator); LaVert Ventures (woman-owned AgTech fund); and Latimer Ventures (early-stage venture capital fund). The investment will trigger an...

Samantha Dorisca

Mar 4, 2024