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Roc Nation is launching yet another culture-shifting platform for the world of luxury. Today, the Jay-Z founded company announced a partnership with Modern Luxury Media — America’s largest luxury media company — to launch a new disruptive brand and multimedia platform called “EDITION by Modern Luxury,” a press release reports. The new outlet aims to both “amplify and elevate voices that are shaping popular culture.” “The importance of elevating the voices of such a powerful community has never been greater,” Brett Yormark — president of business operations & strategy for Roc Nation — said in a statement. “We are excited to devote our efforts in creating a platform that is not only exciting but necessary in order to push the luxury media industry forward.” Roc Nation co-founder and CEO Desiree Perez echoed his statement noting Modern Luxury Media’s history of building brands in luxury that drive impactful content. “We couldn’t think of a better partner to launch EDITION,” she said,...
Don’t just talk about it, be about it! Managing Director of venture capital (VC) firm Insight Partners knows exactly how to use his privilege to level the playing field when it comes to funding for Black founders. Richard Wells is the son of an Ecuadorian immigrant mother but carries the name and appearance of his white father which he notes has helped his career tremendously. “When I sit on a panel of folks that do what we do, I have joked that I have the same haircut and look very similar to everyone else, all the white guys,” said Wells in an interview with Forbes. “And I recognize that’s an advantage for me. No one knows that I had a grandmother that didn’t speak a word of English.” As veterans in the industry, Wells and his partners have continuously been informed about the hardships that fund managers, specifically, women and people of color, face when it comes to raising money. It was this that motivated both him and his partners to put $15 million of their own capital into a...
Last year, Naj Austin — founder and CEO of people of color-focused social workspace Ethel’s Club — had a vision to reimagine the way social media platforms work by creating Somewhere Good, a one-stop-shop space for Black and people of color to connect freely online. This week, Austin and her team announced a $3.75 million seed round to help the platform continue to innovate a digital space where our communities can center our identities. According to a press release, the funding round was led by Silicon Valley venture capital firm True Ventures with participation from celebrities such as Gabrielle Union and Harrison Barnes. Other investors who participated include Slauson & Co., NextView Ventures, Ellen Pao (Project Include), Ashley Mayer (Glossier), Toyin Ajayi (Cityblock), Jackie Nelson (Tribe AI), Lindsay Ullman (IAC), Helena Hambrecht (Haus), Tina Bou-Saba (Big Future Fund), Jillian Williams (Cowboy VC) and 2PM Inc. “I invested in Somewhere Good because I deeply believe in Naj’s...
Black-led tech companies are doing their part to shape the digital future, and startup company Centri Tech’s newest launch is continuing that same mission. Centri Tech — a social venture that mobilizes the full potential of tech to help humanity through digital advancement — has announced a launch in Portland, OR, where the company will continue to function as a leader in revolutionizing tech for the advancement of society. According to a press release, this hands-on approach intersects real estate, housing, technology, culture and innovation to help overcome the socio-economic disparities we succumb to. This approach involves three different points of focus for Centri Tech including: A widespread technology policy and practice agenda focused on both public and private sectors A network of like-minded entities from the public sector, technology and corporate industries, philanthropy, as well as the community development and housing sector Digital innovation practices to leverage new...
Impact America Fund founder and General Partner Kesha Cash is on a mission to invest in companies that offer solutions for the world’s overlooked and underserved communities. In the process of achieving this goal, she’s also making history for herself and her company. This week, Impact America Fund announced that it has raised a $55 million second investment vehicle to fulfill the company’s goal. Thus, making it a significant increase from the first $10 million fund raised in 2014 and the largest fund raised by a Black woman general partner, Crunchbase News reports . According to Crunchbase News , fundraising for the second fund included a large investor base with 67 limited partners comprised of numerous foundations, large wealth managers, and global investment banking firm, UBS, which committed capital through its CRA portfolio. The goal for this fund is to further invest in companies with an “outsized impact on low and moderate income communities,” Cash told Crunchbase News ....