Showing 141 results for:
Black investors
Popular topics
All results
Los Angeles, CA-based venture capital firm Slauson & Co. has announced a new cohort of its Friends & Family program. According to its website, the Friends & Family program benefits founders of emerging category-defining businesses across various sectors, including artificial intelligence (AI) , consumer technology, health and wellness, and fintech . The initiative offers essential capital, connections, and community support to help the founders advance business operations, attract investment, and connect with like-minded individuals in its early stages. On Wednesday, March 19, 2025, the firm announced 10 founders selected from over 800 applications, including Ballin AI, which provides AI-powered scouting and recruiting tools for athletes and athletic departments worldwide, and Coblr, a streamlined platform that connects fashion repair shops, brands, and consumers to unlock the $700 billion circular fashion market. “I couldn’t be more excited to learn from, and grow alongside, this...
Tyler Perry has provided great financial relief for 85-year-old Anniece Tisdale. According to WSMV-4, Tisdale hired an unlicensed contractor to renovate her East Nashville, TN, home to accommodate her disability and growing family. However, the project took a turn for the worse when the contractor abandoned it altogether after not meeting completion expectations. Tisdale was then left with a home unsafe to live in and thousands of dollars lost. After an interview with the local news station, Tisdale was asked by Sherri Shepherd to appear on her “Sherri” talk show, and was joined by her daughter, Yolanda, who revealed that at least $180,000 had been invested into the home renovation project. Yolanda and her husband both took out personal loans and pooled from savings and credit cards to gather the funds. Yolanda also helped to refinance her mom’s mortgage to pay for the $200,000 in renovations. “We signed the contract in January. We were supposed to be f inished March 31. It was a...
There were some initial hesitations around Unrivaled’s 3-on-3 women’s basketball league, but that has not stopped it from attracting notable investors. Unrivaled is a startup founded in 2023 by WNBA players Napheesa Collier and Breanna Stewart. As AFROTECH™ previously told you, its business model is unprecedented, offering the highest salaries in women’s sports and granting participating players an equity stake in the league. Its concept has proven to be a success among its players. “Everybody got equity coming into this league, that’s the most important thing…I know five years from now this thing is gonna be bigger than ever,” Angel Reese from Unrivaled’s Rose BC team shared during a virtual press conference held in January. View this post on Instagram A post shared by Rose BC (@rosebc) The potential of Unrivaled was not understood by all. In fact, Collier recalls receiving various “no’s” during the league’s inception. “It was hard because you think the same thing like, ‘Oh, I’m an...
Junior Bridgeman has passed away at 71 years old, leaving behind a lasting legacy. The former NBA Milwaukee Bucks player who became a prominent businessman died on March 11, 2025, following a medical emergency. He had collapsed during a luncheon at the Galt House Hotel in Louisville, KY, for the Lincoln Heritage Council of the Boy Scouts of America, according to WDRB. His exact cause of death has not been confirmed, but various Louisville television stations reported that he was seen holding his chest at a point during the event, per ESPN. “We express our heartfelt condolences to Junior’s wife, Doris, their children, Eden, Justin and Ryan, the Bucks organization, and his many friends and admirers in the basketball community,” NBA Commissioner Adam Silver said in a statement, notes ESPN. Bridgeman was a well respected figure for his accomplishments on and off the court. In fact, his jersey was retired at Fiserv Forum, the Milwaukee Bucks’ home arena in Wisconsin, in 1988 to honor his...
Former NFL player Marques Colston is making it easier for other athletes to enter the investment space. Drafted into the NFL in 2006 by the New Orleans Saints, Colston had a playing career that spanned more than 10 seasons and included securing a Super Bowl ring in 2010. He earned over $40 million throughout his time in the NFL, per Spotrac. Colston’s NFL career ended in 2015 when he was released by the Saints due to injury, according to the team’s webpage. Champion Venture Partners Today, Colston is still involved with athletes but in a new light. He is the founding partner in Champion Venture Partners, alongside former professional mixed martial arts (MMA) athlete Nick Edwards. The North Dakota-based private equity firm, established in 2024, is making “growth alternative asset investments” accessible to all, according to the firm’s website. “A lot of our team are former athletes, and what you see is there’s a really short time horizon on your athletic career where you have your...
Dave’s Hot Chicken is considering a sale that would bring the company’s valuation to nearly $1 billion. The popular fast-food chain, founded by Dave Kopushyan, Arman Oganesyan, Tommy Rubenyan, and Gary Rubenyan, has locations in states such as Arizona, Massachusetts, California, Missouri, and Texas. In total, the chain has over 250 locations worldwide, per Reuters. It all started in 2017 with a $900 investment that led to the restaurant’s grand opening as a pop-up in an East Hollywood, CA, parking lot, its website mentions. Its menu features chicken tenders and sliders with spice levels ranging from Lite Mild to Reaper. Sides include fries, mac and cheese, and kale slaw. View this post on Instagram A post shared by DavesHotChicken (@daveshotchicken) The company’s business model appears to be a success with each franchise earning on average $2.19 million in revenue (AUV) per year, according to Sharp Sheets. In total, its locations generate an estimated $1 billion in total annual...
Former NBA players Grant Hill and Chris Webber are looking to bring a WNBA team back to the city where they once played. According to a press release, an ownership group led by Pistons owner Tom Gores has formed and placed a bid to bring the league to Detroit, MI. The state previously had a team between 1998 to 2009, named The Detroit Shock, which had been quite successful, CNBC reports. In fact, the team won three WNBA Championships. However, the franchise no longer represents the city after first moving to Tulsa, OK, and then to Arlington, TX, where it has played as the Dallas Wings since 2015. Now, a group that includes Hill and Webber is hoping to reignite momentum for the city to regain a WNBA team. This marks a full-circle moment for both Hill and Webber as they both played for the Detroit Pistons at different times during their professional careers. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into...
Black residents in Chicago, IL, will be able to invest their dollars in its first casino. The TRiiBE reports locals gathered for an information session hosted by City Treasurer Melissa Conyears-Ervin and members of the Chicago Aldermanic Black Caucus to buy shares in Bally’s Casino, a $1.6 billion project in the 21st Ward that will also feature a hotel, a 3,000-seat theater, and a Riverwalk extension to Chicago Ave. A requirement for the casino is that at least 25% of the investment must come from minorities and women. “Tonight is about a new opportunity on how to participate, about not just being a consumer but to be an owner,” Ald. Ronnie Mosley (21st Ward) said at the pulpit of Third Baptist Church, according to the outlet. Conyears-Ervin added: “Remember when they legalized marijuana a few years ago? We knew that we were the community that was affected the most by it, but we felt that we did not have access to being owners. Well, this, ladies and gentlemen, is quite different.”...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. President Donald Trum p, who was once a cryptocurrency skeptic, has now yielded to many of the industry’s demands, such as easing federal regulations and oversight. From appointing cryptocurrency advocate and former Securities and Exchange Commissioner Paul Atkins to reprise his old role, to launching his own meme coin, Trump has chosen to embrace cryptocurrency . A few years ago, cryptocurrency was touted as the new form of currency. We wouldn’t be using archaic financial currency and stick to this revolutionized way of transactions. Although some people have made a lot of money off of crypto, its intended use as a decentralized banking system hasn’t been realized. Cryptocurrency is still very new, so new that engaging in it feels comparable to gambling. Trump lifting regulations to give cryptocurrency his blessing bodes well for the industry. A day after announcing Paul Atkins as his pick, the...
LeBron James’ portfolio now includes a new sports team. Forbes notes the Los Angeles Lakers star is taking his dollars to the seas as an investor in the UIM E1 Series, an all-electric and sustainable raceboat competition that kicked off in 2024. Its launch is supported through Motorsports E360, a partnership between the Public Investment Fund (PIF) and Formula E, Extreme E, and E1. James is now the owner of the platform’s latest arrival, Team AlUla Championed by LeBron James, with Rusty Wyatt and Catie Munnings signing on to pilot the powerboat. What’s more, James joins other E1 Series team owners such as Will Smith (Westbrook Racing) and Tom Brady (Team Brady), which was victorious in the 2024 E1 Series championship. “For me, I’m a huge fan of sports and I’ve always loved competing,” James told Forbes. “There’s nothing like seeing athletes compete at the highest level of their sport. Now with E1, we’re seeing a whole new type of competition on the water where everything is...
Mellody Hobson is exiting her board role at Starbucks. Hobson is well regarded for her efforts at Ariel Investments, a global value-based asset management firm, where she is responsible for management, strategic planning, and growth beyond research and portfolio management as co-CEO and president, her LinkedIn mentions . In 2021, Hobson launched Ariel Alternatives, LLC, leading to a $1.45 billion raise for its private equity fund, Project Black. This initiative aims to support both non-minority-owned middle-market companies and those currently owned by Black and Latino entrepreneurs that generate $100 million to $1 billion in revenue, as AFROTECH™ previously reported. With funding, these companies would then be expected to transform into certified minority business enterprises of scale to serve as Tier 1 suppliers to the Fortune 500. Hobson has also been tied to various corporate boardrooms. She was a board member of the Estée Lauder Companies and chairman of the board of DreamWorks...
LeBron James’ business partner and Klutch Sports Group Founder Maverick Carter is looking to own an international league. Since 2006, Carter has been working alongside James within the business world. The pair had been playing basketball together in high school, and Carter was a trusted figure in James’ life. For that reason he was tapped by the NBA superstar to assist him on the business side as his sports career was taking off. “He betted on me at a time I didn’t know what I was doing,” Carter recalled during an interview on the “ UNINTERRUPTED” podcast . “And, you know, I’m still learning every day. But he really gave me a shot and was like, ‘I’m gonna empower you.'” Since that time, Carter has been a pivotal player in James’ journey to becoming a billion-dollar athlete today. Carter has served as his manager , and they have launched several business together, including SpringHill Entertainment, which merged with British television, film, and music production company Fulwell 73...
Erin Harkless Moore believes artificial intelligence (AI) can improve the Care Economy. Since 2020, Moore has served as vice president and managing director of investments at Pivotal Ventures, a company launched by billionaire philanthropist Melinda French Gates to advance social progress and accelerate women’s influence globally, per its website. Gates has even committed $2 billion towards the mission. Furthermore, alongside partners, Pivotal Ventures prioritizes an expansive list of pillars within the $648 billion Care Economy, including mental health, paid medical and family leave, and women and tech innovation. Moore is tasked with leading a team responsible for selecting, investing in, and managing a diverse portfolio that adheres to Pivotal Ventures’ mission, her LinkedIn states. “We really start with our investment thesis and our direct investments in care looking at you know tech solutions that reduce burdens of care, lower cost of care, and improve access to care, and...
Several salon owners have been awarded a grant from Beyoncé. As AFROTECH™ previously reported, the singer’s BeyGood foundation, in collaboration with her newly launched haircare line, Cécred, established a $500,000 annual fund. The initiative supports hairstylists in Atlanta, GA; Chicago, IL; Houston, TX; Los Angeles, CA; and New Jersey who meet specified criteria: They must be licensed for at least two years; have been in business for a minimum of one year; lease or own a suite, booth, or chair; and face financial hardship, according to the foundation’s website. Additionally, the fund includes a $10,000 scholarship opportunity for five cosmetology schools in the aforementioned markets. “Fostering talent, promoting professionalism, and supporting entrepreneurship within the hair industry is deeply important to us,” BeyGood commented on its website. “That’s why we’re partnering with Cécred to create the Cécred x BeyGOOD Fund, which celebrates the influence professional stylists have...
Investor and “Shark Tank” judge Barbara Corcoran has high praise for Kevin Hart. Hart made an appearance as a guest judge on the show during its 13th season alongside Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Greiner and others. The purpose of “Shark Tank” is to provide a platform for entrepreneurs across industries to pitch in front of powerhouse investors with hopes of securing their investment. Speaking of the importance of appearing on the show, Hart said, according to ABC Audio, “If I can reach back and give opportunities to others, to people of my community, to the younger generation that is coming up that should be our future leaders of tomorrow and our future groundbreakers of today and tomorrow, why not? I’m not in the business of just doing it for me. You know, I think that’s the role that we all play when we get to sit in these chairs, is the role of opportunity for not just ourselves but others.” Hart’s expertise in entertainment and business has made him an...