East Chop Capital has closed its funding and will deploy capital to Black investors. According to a press release provided to AFROTECH™, the private equity firm’s founders and HBCU graduates Calvin L. Butts Jr. and Carrington Carter have closed an $11 million fund, which draws equity investments from 93 limited partnerships, including Liberty Financial Services. This brings East Chop Capital’s total raise to $15 million. As previously reported by AFROTECH™, $4 million in 2021 had been raised to support its presence in the global vacation market, which is projected to reach $132.7 billion in 2033, as reported by Future Market Insight. East Chop Capital is poised to achieve a 25% return, taking into consideration the fees or expenses involved in overseeing the fund. With additional capital at its disposal, East Chop Capital is poised to amplify its efforts in the initial round, with plans already set in motion to invest in Florida and Texas. “Fund II is about scale and pattern...

AT&T continues to lead the charge when it comes to paving the way for future Black changemakers! The network has announced the top 25 honorees from its inaugural Dream in Black Rising Future Makers class made up of students who currently attend Historically Black Colleges and Universities (HBCUs). “This year’s applicants were the strongest submissions we’ve received to date and their stories spoke to the core mission we seek to amplify through our AT&T Dream In Black initiatives,” said Angela Burgin, AT&T Director of Marketing and Special Experiences in an official press release shared with AfroTech. “We are thrilled to recognize this dynamic group of students for their amazing accomplishment and support them in furthering their dreams as future leaders in their communities.”

Sometimes small businesses face the challenge of learning how to develop effective bookkeeping practices. This obstacle could lead to disrupted cash flow and a failure to meet the financial obligations of one’s business. Looking to resolve this issue in Nigeria is the startup Kippa, which markets itself as the country’s simplest accounting software. Founded by Kennedy Ekezie alongside Duke Ekezie and Jephthah Uche in February 2021, the application is designed to help small business owners create a bookkeeping system that will help them “recover debts 3x faster,” TechCrunch reports. According to Kippa, a stand-out feature on its application is customers who have not made payments can not only be tracked, but they will receive an automated reminder message for the business owner to recover debts. In addition, businesses can manage inventory, track daily cash flow and expenses, create invoices and generate receipts. “For us, what we do is we have such a unique opportunity to provide...

In 2020, Ayo Davis was hired as the executive vice president of creative development and strategy for Disney Branded Television, where she had the authority to direct all live-action programming for scripted and unscripted series in addition to movies and specials. Under her role, the Dillard University graduate would report to Gary Marsh, who had served 32 years as the former president and chief creative officer for Disney Channels Worldwide. Well, it looks like Davis has been doing a stellar job within her role because, in case you missed it, she received another major promotion within the company in September of 2021, replacing Marsh as the new president of Disney Branded Television. In her new role, Ayo Davis will report directly to Peter Rice, the Chairman of Disney General Entertainment. “Ayo is a focused leader with impeccable creative instincts who’s excelled in every role she’s held at Disney,” Rice shared in a statement. “Her creative eye for talent has made a meaningful...

Beyoncé will be blessing us yet again through her Peloton x Beyoncé Artist Series set to release Tuesday, Oct. 19. If “The Drunk In Love” singer is in the mix, you know everything will be on a bigger scale. The installment marks one of the most anticipated events produced by the world’s leading interactive brand since its inception in 2012. View this post on Instagram A post shared by Peloton (@onepeloton) The 72-hour fitness phenomenon will include 17 classes spanning three days with content streaming globally from Peloton Studios in London and New York. For the first time, Peloton will include classes in three languages — English, German and Spanish — to be more inclusive. According to a press release from PR Newswire, the upcoming series will dive into “the relationship between our inner and outer power, how we harness motivation and source our strength with inspiration from the world around us, and from within.” “The Beyoncé Artist Series allows you to mentally draw deeply from...

For recent Delaware State University (DSU) graduates, student debt will be less of a burden. According to the university , they will cancel up to $730,655 in student debt for recent graduates that have faced financial hardship during the COVID-19 pandemic. The historically Black university has used its stimulus funds from President Biden’s American Rescue plan to help its students by canceling their debt. Forbes reports that The Education Department updated guidance in March to allow institutions to use the money for different needs which includes canceling some student debt. “Too many graduates across the country will leave their schools burdened by debt, making it difficult for them to rent an apartment, cover moving costs, or otherwise prepare for their new careers or graduate school,” said Antonio Boyle, a vice president for the university. He also notes that 87 percent of DSU graduates either enter the career of their choice or enroll in graduate school within six months of...

Morgan State graduate Duane Myko, Bowie State alumna Danita Jones and Chef Jumoke Jackson recently launched Everything Legendary , a vegan burger business. According to BOTWC , co-founder Myko was inspired to create “a flavorful alternative to meat products” after his mother’s strict vegan diet helped her battle lupus for over 35 years. In 2019, he and his business partners put their money where their mouth is. “Our goal is to educate the community on the benefits of a healthy vegan lifestyle,” Myko said. View this post on Instagram A post shared by Everything Legendary™ (@go_legendary) The healthy burger company, which pivoted to nationwide delivery due to the pandemic, offers soy-free and gluten-free burgers in four flavors: classic burger, pepper jack, cayenne pepper, and cheddar. They also sell a signature sauce. Not only is Legendary serving customers right at their door; they’re also giving back to their old stomping grounds—HBCUs. View this post on Instagram A post shared by...