Los Angeles-based entrepreneurs Austin Clements and Ajay Relañ have announced the launch of Slauson & Co., an inclusion-focused VC fund that sets out to help the Black community.

In a press release, the company announced its inaugural venture capital fund, which has received backing from the likes of PayPal, which recently made a big commitment toward racial equity. Ashton Kutcher, will.i.am, True Capital Management and Alpaca VC are also early supporters, along with veteran technology investor Ron Conway who will advise Slauson’s founding partners.

The inclusion-focused VC fund isn’t an impact fund. However, they do promise to “be impactful” with their investment decisions.

“We’re thrilled to announce the launch of our firm and aspire to be the best in class,” Slauson & Co. co-founder Austin Clements told AfroTech. “With that, we’re ready to put in the work, and if done right, will result in access for untapped founders and inclusion in a space that until recently seemed unattainable.”

The firm makes investments in U.S. based startups and is driven by its mission of economic inclusion and democratizing access to entrepreneurship for
historically underrepresented founders.

“We’re grateful to have assembled such an amazing group of mission-aligned investors, advisors, and luminaries to join us in our journey,” said Ajay Relañ, the co-founder of the inclusion-focused VC fund. “The timing could not be better, and Slauson is perfectly positioned to provide much-needed access to the capital and resources in service of the founders were backing.”

For more on Slauson & Co. and their mission, click here.