Black Tech Nation Ventures (BTN.vc) has recently received new funding to further champion Black tech entrepreneurs.
As previously reported by AfroTech, the VC fund’s mission is to invest in Black and diverse-led startups across the nation. To continue doing just that, F.N.B Corporation is making a $2.5 million equity commitment to BTN.vc, according to The Business Journal.
“We are happy to be in partnership with FNB and appreciate their commitment to support Black Tech Nation Ventures’ mission to democratize access to VC capital and generate wealth for marginalized communities,” founding partner of BTN.vc Kelauni Jasmyn said, according to the outlet.
As aforementioned by Jasmyn, the corporation’s funding “advances the company’s efforts to encourage growth in low– to moderate-income and marginalized communities.”
“Black Tech Nation Ventures has a proven leadership team and a mission that aligns with our own focus on providing resources for diverse communities,” said Vincent J. Delie Jr., chairman, president, and CEO of F.N.B. Corporation and First National Bank. “We are confident that our partnership will deliver on FNB’s high standards for creating jobs and increasing access to capital and support for underrepresented business owners in our markets.”
BTN.vc’s partnership follows after it raised $25 million in less than a year, as previously shared by AfroTech. As it continues to climb toward a goal of $50 million, Jasmyn hopes for the fund to pave the way for more underrepresented entrepreneurs to excel.
“I’ve done every single part of building a company [with BTN], so now to be able to take that and apply my personal knowledge to our future portfolio company is probably what I’m most excited about,” Jasmyn told AfroTech back in 2021. “To be able to use all of the literal blood, sweat, and tears to then hopefully make it a little easier for the next entrepreneur who looks like me.”