Showing 42 results for:
equity-partner
Popular topics
All results
Dr. Valerie Camille Jones Ford, an educator with over 25 years of dedicated service, was inducted into the National Teachers Hall of Fame on June 20, becoming only the sixth Black woman to receive the honor. The induction joins a long list of accolades, including the Presidential Award for Excellence in Math and Science Teaching, recognition in the U.S. Congressional Record by the late Rep. John Lewis, and multiple honors from President Barack Obama for her work advancing equity and excellence in education. As a Black female leader in STEM education , Jones Ford is committed to using her platform to inspire underrepresented students to pursue similar paths. “I’m incredibly proud to be among such amazing educators, but it lets me know there’s still work to be done as far as bringing recognition, because I know there are so many teachers of color who deserve this platform,” Jones Ford told AFROTECH™. She said that she wanted to use her platform to share her experience and to bring...
Fanbase Founder Isaac Hayes III wants content creators to understand their worth. Creators Are The New Major Network The pendulum is swinging in favor of the creator economy. According to Forbes, the top creators on Instagram, TikTok, and YouTube generated $853 million in revenue, excluding brand deals and other income streams, marking an 18% increase from 2024. Collectively, these creators amassed 3.4 billion followers, a 24% jump from the previous year. By 2030, the number of creators is projected to grow from 67 million to 107 million. As AI’s influence grows across industries, content creation is expected to become even more streamlined and efficient, fueling further revenue growth. This year’s list included fashion creator Wisdom Kaye, who generated $5 million in revenue in 2024, AFROTECH™ previously reported. Kai Cenat is also listed, taking the 28th spot, with a reported $8.5 million in earnings. Cenat is well known for organically growing his presence on Twitch, which...
These founders are leaning into AI to help patients combat their medical bills. Avelis Health Founded in February 2025 by Angel Onuoha (CEO) and Ahmad Shehu (chief technology officer), Avelis Health employs AI agents to find errors, audit, and negotiate medical bills, which can help lead to direct savings as well as prevent rising premiums and less favorable coverage. Onuoha shares that its inception derived from an injury that left him with piling medical debt. “I’ve dealt with a chronic knee injury for the past decade and had multiple surgeries on my right knee. What inspired me to start Avelis was having to fight down over $250K of inflated hospital bills as a result of these procedures,” he mentioned in an email to AFROTECH™. “If I was struggling with this system, I knew millions of other Americans were facing the same problem without the resources to fight back. The medical billing system is broken, 100 million Americans have medical debt, and 50-80% of bills have errors in...
Amazon CEO Andy Jassy announced that the company plans to decrease its corporate workforce as it adopts more generative AI tools. “We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs. It’s hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company,” Jassy said in a company memo on Tuesday. He added that Amazon is utilizing AI to optimize inventory placement, enhance demand forecasting, and improve its robots, noting that this has resulted in lower costs and faster delivery speeds. Amazon announced in February that it will spend $100 billion on capital expenditures, driven by investments in artificial intelligence, according to CNBC. The company has reduced its workforce in recent years, having laid off over 27,000 employees since 2022, CNBC reported. AI’s Influence...
HarbourView Equity Partners just landed a major financial boost to supercharge its growing empire. The Black-founded investment firm, led by Sherrese Clarke Soares, has secured $500 million in debt financing from KKR, according to a press release. The funds will be used to expand the firm’s portfolio of music, media, and sports-related intellectual property. The financing was structured by Barclays, with Barclays and KKR Capital Markets serving as placement agents and Fifth Third Bank as passive placement agent. “We are thrilled to have KKR’s continued support as we further scale the firm,” Soares said in the press release. “This additional capital will help us accelerate our strategy to align with where the media, sports, and entertainment markets are headed. We see a tremendous opportunity to continue investing in evergreen intellectual property, which we believe is historically uncorrelated to broader market volatility and forms a powerful diversification tool.” The new capital...
The spirit of Robert F. Smith inspired the launch of a multi-million-dollar hospitality fund. As AFROTECH™ previously told you, Smith is the founder of Vista Equity Partners, which invests in technology companies and fulfilled its largest raise to date in 2024, amounting to $20 billion to lay the groundwork for its focus on artificial intelligence (AI). Smith’s strategy has served as a blueprint for innovation in the hospitality sector. According to information shared on LinkedIn, Will Huston — founder and chief investment officer of Bay Street Hospitality — shares a similar interest in leveraging technology, but with a focus on uncovering overlooked investment opportunities. The group is backed by a $430 million investment fund, according to Shoppe Black. “We’ve meticulously developed a quantamental model that provides strategic foresight, enabling us to pinpoint high-potential investments in markets where wealth inequality (distinct from income inequality) presents both a social...
Five Howard University students have earned a $1 million grant for their school after winning the fifth annual Goldman Sachs Market Madness competition, as part of its HBCU Possibilities Program, according to an announcement posted on the university’s website. As AFROTECH previously reported, Spelman College won in 2024. The winners of the 2025 Market Madness competition, Keyla Arrechea, Jordan Atkins, Aaron Harrison, Kadijah Mansaray, and Jada Rabun, were among the Howard students in the semester-long program, which is designed to provide, immersive introduction to key financial concepts and their real-world applications, as Goldman Sachs’ website states. During the competition, the Howard team competed against students from 11 other HBCUs. Most of the team had not yet completed their first semester of college when the program began, yet they advanced through two virtual rounds and ultimately delivered their final pitch live at Goldman Sachs’ New York headquarters. They were tasked...
Black wealth, especially at the billionaire level, remains a statistical anomaly in global finance. But in 2025, that narrative continues to shift — if only incrementally. According to Forbes, out of 3,028 billionaires worldwide, only 23 are Black, representing less than 1% of the list. Despite this underrepresentation, these 23 individuals collectively hold an impressive $96.2 billion in wealth. The figures tell one story. The names behind them tell another story — one of legacy, innovation, cultural power, and long-game strategy. This year, two notable newcomers joined the global roster of Black billionaires: Sheila Johnson, the media and hospitality powerhouse, and Herriot Tabuteau, a biotech founder with a focus on brain health. Both represent not only financial achievement but industry-specific influence in spaces where Black leadership is often overlooked or underestimated. Who’s New To The 2025 Black Billionaires List? Sheila Johnson, widely known as the co-founder of Black...
Wiz Khalifa views his decision to sell a portion of his catalog as a sound business move. In July 2023, the artist sold a portion of his music and publishing assets to HarbourView Equity Partners, a global alternative asset management company, according to a press release. The sale included hit singles such as “See You Again,” “Black & Yellow,” and “The Thrill.” “Wiz Khalifa has already made a profound impact on culture as a musician, executive, media visionary, and creative force. We celebrate his talent and creativity and are thrilled to welcome him and Taylor Gang to the HarbourView family today,” said Sherrese Clarke Soares, Founder and CEO of HarbourView, in a news release. Khalifa commented: “Sherrese and HarbourView truly understand the value of music and artistry. We are excited to partner with them as they continue to build a dynamic media company that is in line with the values and goals we all have here at Taylor Gang.” More than a year after the transaction, he explained...
When it comes to investment, one of the first key tips you’re likely to receive is the importance of diversification. Usually, there’s a sweet spot of 20-30 different types of stocks spread out over various industries, with other assets like bonds, real estate, and CDs on top of that. Private equity investing can be an excellent way to diversify your portfolio and access opportunities not available in public markets. However, it can also be more complex and risky than traditional investments. In this article, we’ll break down what private equity is and how you can get started with it. What Is Private Equity? Private equity refers to investments made directly in private companies, or in the buyout of public companies, to take them private. These investments typically involve purchasing shares in a company that is not listed on a public stock exchange. Private equity investors aim to increase the value of these companies over time and eventually sell them for a profit. Types Of...
For nearly 30 years, Robert F. Smith’s Vista Equity Partners has invested in enterprise software companies. As AFROTECH™ previously reported , in August 2023, Smith announced that the global investment firm had reached over $100 billion in assets under management. “Since Vista was founded over two decades ago, we’ve expanded to 650+ team members operating around the world, built a comprehensive library of enterprise software best practices and much more,” Smith shared in a LinkedIn post at the time. “We’ve also been committed to supporting the communities in which we live and work, creating opportunities for individuals who have traditionally been underrepresented.” As a leader championing underrepresented technologists and tech entrepreneurs, Smith was among the speakers at AFROTECH ™ Conference 2023. Joined by Base10 Partners Co-Founder and Managing Partner Adeyemi Ajao, the two founders led the panel titled “ Powering Forward: Creating A Shared Digital Future.” During the...
Nicky Saunders has tips and tricks to scale your digital presence. Saunders, a content strategist and CEO of Deeper Than The Brand since 2018, understands firsthand what it takes to build online. Called “the voice of content branding,” her platform offers helpful content creation suggestions that can be beneficial to businesses and content creators. Of late, she has heavily geared content around the various ways technology can be a resource, such as using an iPhone to edit live photos or artificial intelligence (AI) tools like ChatGPT or Opus Clip. The latter allows users to repurpose long videos into shorter clips with one click, per its website. View this post on Instagram A post shared by Nicky Saunders | The Voice Of Content Branding 🏁🦁🏁 1 of 1 (@thisisnickys) Thanks to her expertise, Saunders has built an online following of 12,000 subscribers via YouTube while impressing on Instagram with 187,000 followers at the time of this writing. Screenshot taken via Instagram /...
Robert F. Smith is the second-richest Black man in America. Smith follows behind David Steward, the founder of IT management company World Wide Technology, who boasts an $11.4 billion net worth to secure the top spot among Black individuals, Forbes notes. View this post on Instagram A post shared by AFROTECH (@afro.tech) Smith’s return to the list is a result of his role as founder, chairman, and partner at Vista Equity Partners, a firm that invests in enterprise software, data, and technology companies, per its website. With more than $100 billion in assets since its inception, its portfolio companies include Forcepoint, Comply, Datto, Brainware, and InfoBlox, among others. In 2024, Vista Equity Partners made additional billion-dollar moves. This includes joining Blackstone in the acquisition of Smartsheet — an enterprise platform for modern work management — for an all-cash transaction valued at $8.4 billion in September, as AFROTECH™ previously told you. “Modern enterprises rely...
At this moment in time, a judge is washing his hands of a decision involving Jay-Z and Dame Dash’s shares. As AFROTECH™ previously mentioned, Dame Dash is soon having his shares in Roc-A-Fella Records sold at auction following an $800,000 judgement from a copyright infringement and defamation of character lawsuit. The auction has been gaining significant attention as the buyer and new stakeholder would have the rights to Jay-Z’s debut album, “Reasonable Doubt.” Even Drake reportedly showed interest in purchasing the shares through a direct message, Dame Dash had said. “Based on feedback I have received from interested parties (and I can’t mention names), this auction will likely bring out many household names in the sports and entertainment industries as well as those interested in a piece of a historically significant company, which holds an interest in a timeless debut album,” Dame Dash’s attorney Natraj Bhushan explained to Billboard at the time. Jay-Z’s attorney’s has since...
Following PowerSchool Holdings Inc.’s multi-billion-dollar acquisition, Vista Equity Partners has retained its minority stake in the company. According to a press release, PowerSchool Holdings Inc., which operates as a cloud-based K-12 education software, was acquired by Bain Capital through a transaction that was valued at an estimated $5.6 billion, with the company paying $22.80 per share in cash. Bain Capital plans to build on PowerSchool’s successful track record, with its software impacting 60 million students and 18,000 customers across more than 90 countries. “PowerSchool is aligned, throughout its entire organization, to its mission to personalize education and improve learning outcomes,” David Humphrey, a partner at Bain Capital, said . “We’ve had the privilege of seeing the leadership team’s dedication to this mission through a world-class product innovation engine.” Bain Capital Partner Max de Groen added, “We are thrilled to support PowerSchool’s mission and growth as it...