February may have come and gone, but the historic contributions of Black people are an everyday thing. This sentiment is proof positive by the founders of Base10 Partners, what’s said to be the world’s largest Black-led venture capital firm.
Recently, the firm announced it closed on a new $460 million fund for early-stage investments which takes its total assets under management to more than $1 billion. This newest fund is the largest to date. In 2021, the firm closed on what is now a $300 million growth-stage fund, The Advancement Initiative, which donates 50 percent of carried interest to Historically Black Colleges and Universities to create scholarships and bolster school endowments.
Ade Ajao and TJ Nahigian founded Base10 Partners just four years ago. Since its inception in 2018, the Bay Area firm uses a data-proven approach to determine how to invest in tech automation within companies across the food, logistics, global fintech, and retail industries.
Equity In Investment
Honing down on its commitment to equity in capital funding, Base10 is putting its money where its mouth is by helping to close the digital divide by providing minority-owned companies with tools and resources for wealth creation.
“Doing this job every day is a privilege and we are truly grateful for the continued trust our investors have placed in our growing team that allows us to keep working in what we love. It truly is a lot of fun!” said Ajao, co-founder and Managing Partner of Base10. “We have the honor of working with the best founders in the world, solving problems that impact all of us at a time when we all really need it, and we wouldn’t want to be doing anything else.”