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It’s no secret that the startup world needs more Black investors and venture capitalists. Inc. Magazine reports Black founders are raising “record amounts of venture capital” in 2021, even though they only rang in 1.2 percent of all venture capital in the first half of the year. Last year, Black founders received only 0.6 percent of venture capital (VC) deployed. That’s unacceptable, and Black investors are stepping up to the plate to change that. Some notable Black venture capitalists making major moves in the VC world include Jarrid Tingle, co-founder and managing partner of Harlem Capital; Marlon Nichols, managing general partner at MaC Venture Capital; and Austin Clements, partner at Slauson & Co. The trio will hit the virtual stage at AfroTech 2021 during the “Black VCs: Raising Millions with a Mission” panel to discuss how they are working to raise millions of dollars to diversify venture capital investments. Ultimately, Nichols, Clements and Tingle want to put more dollars in...
Nonprofit firm BLCK VC teamed up with Sequoia Capital and Lightspeed Venture Partners to launch a network that supports the next generation of Black investors. There has been an emergence of scout programs in the venture capital sector, which have helped better connect founders, operators, and angel investors (If you’re unsure of what venture capital scouts are, think of them as the bridge between venture funds and promising companies looking for support). Through the BLCK VC Scout Network, Black investors will be able to tap into training, mentoring and networking opportunities. BLCK VC launched this initiative after recently discovering that only three percent of venture capital investors are Black. The firm is working to increase diversity in venture capital, so this new network is a step in the right direction. The BLCK VC Scout Network program will take place over six months, across three phases focused on education, community , and deal flow. Twice a year, BLCK VC will welcome...
Steph Curry is getting into the investment game and he’s kicking things off by backing an innovative pay-equity company. Bloomberg reports that the two-time NBA MVP has a new early-stage investment firm and he’s starting off the company’s slate of investments by putting money into Syndio — a leading company in the equity tech space. Fortune also shares that Curry’s company, Penny Jar Capital, has pledged a $1 million investment for Syndio this week to help the startup maintain its “momentum as the first and the best equity tech platform,” according to CEO Maria Colacurcio. Colacurcio tells the outlet that Curry’s interest in her company was sparked by Syndio’s ability to reveal pay gaps by race and gender. And although Curry’s new firm has only been registered with the Securities and Exchange Commission (SEC) since May, his passion for equal pay predates that. “Ensuring people are paid fairly is long overdue, and is a fundamental issue that needs to be addressed to progress towards...
Early-stage investment fund Collab Capital is continuing its mission to support Black communities and Black-founded companies with its inaugural fund. Today, the Black-founded company announced the close of their $50 million fund to support its overarching goal to build generational wealth in Black communities. According to the company, the purpose of the debut fund is to invest “financial, human, and social capital” to effectively grow and sustain innovation amongst Black-owned businesses. “For far too long, Black founders have been overlooked despite being the fastest growing entrepreneurial segment remaining the most under-funded and under-resourced group,” Collab Capital founder Jewel Burks Solomon tells us. “As founders ourselves, we’ve witnessed first-hand how difficult it can be to attract VC attention and secure funding, despite having successful business track records. We truly believe this is an important step in narrowing the racial wealth disparity while driving...
In the wake of the global pandemic, Black and brown businesses have become top-of-mind priorities for many companies looking to give back and show their support during this time. According to a press release , Blaylock Van, LLC is the longest continuously operating Black-owned investment banking firm in the country. It has prioritized diversity within the company and now pivoted its efforts to focus on helping investment managers, pension funds, clients, and others interested in diversifying their portfolios. The investment banking firm announced that it is aiming to focus its inclusion efforts on Black and women-owned firms in a press release . “More and more clients are reaching out in need of thoughtful solutions for their businesses and funds going forward,” said CEO and president of Blaylock Van, Eric Standifer. “Fortunately, we are well-positioned to help firms and governments affected by the pandemic as well as those seeking to solidify their inclusion of African-American...