Alpaca VC just revealed the six emerging GPs (General Partners) selected for their $2.5 million diversity commitment!

Back in July, the company vowed to write three to five checks ranging from $500,000 to $1,000,000 each, according to a blog post. However, they ultimately ended up writing six thanks to their initiative to commit $2.5 million of independent GP capital to Black and Latino/Latina investing partners.

“We are thrilled to partner with these managers to create an impact in the ecosystem while driving impact to our fund,” the company wrote in an article on Medium. “Our chosen, diverse GPs can provide us access to underserved founder networks far better than we can ourselves today. In turn, we can help these select GPs beyond just providing them money. We can follow on to their investments; we can introduce them to LPs and other funding sources, and we can help them institutionalize their fund and processes. A truly synergistic relationship.”

The process wasn’t easy, with the company revealing their criteria for selection among the 80 submissions they received.

Alpaca VC selected Hometeam Ventures, Lightship Capital, Harlem Capital, Slauson & Co, Maple VC, and Rarebreed Ventures based on the following: synergy with their direct investing strategy, impact, and strong financial returns.

Following these guidelines, the company screened pitch decks of all 80 managers before taking 35 Zoom calls. From there, Alpaca VC narrowed the list down to a dozen candidates before they embarked on the second round of calls with various GPs on the Alpaca team.

Once that round ended, the company ran founder, LP, and co-investor references where possible which led to their decision to invest in a portfolio of six managers.

For more information on the emerging GPs, who not only met the criteria but will now go on to receive big bucks from the Alpaca team, click here.