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The AFROTECH ™ community continues to push the mission and discussion of inclusivity in the tech space. As we gear up for AFROTECH™ Conference 2024, let’s dive into a session of the past. View this post on Instagram A post shared by AFROTECH™ Conference (@afrotech.conference) On the Executive Stage at the 2023 AFROTECH ™ Conference, Kapor Capital’s founding partners Freada Kapor Klein and Mitch Kapor were part of the panel “Closing The Equity Gap: C reating Wealth and Fostering Justice in Startup Investing” — titled after their book, released in March 2023. Alphonzo Terrell, co-founder and CEO of social media platform Spill, moderated the panel, addressing equity gaps in the startup landscape and how to build a more inclusive future. Klein and Kapor shared that the company has invested more than $106 million into over 170 companies, 62% of which are women-led or underrepresented founders , according to their website . In addition, Kapor Capital has achieved an internal rate of...
Investment firm partners Monique Idlett-Mosley and Erica Duignan Minnihan are level-headed in their approach to allocating capital to companies. Forming Reign Ventures The duo lead Reign Ventures, an early-stage investment fund targeting consumer technology and software startups led by women and minorities. Both founders, who met more than a decade ago during an executive MBA program, bring distinct experiences to their roles, which fall on opposite ends of the spectrum. Idlett-Mosley, co-founder and managing partner, brings 20 years of experience spanning entertainment, marketing, press, and entrepreneurship, and previously worked as CEO for Mosley Brands and Mosley Music Group. Minnihan, co-founder and general partner, has collected 15 years of experience as an investor and advisor. She began her career in investment banking with roles at Citigroup, Credit Suisse, and Cantor Fitzgerald. She later transitioned to venture capital as managing director at DreamIt Ventures, executive...
A Black venture capital firm, Fearless Fund, has been sued by a conservative activist. The man, Edward Blum, played a role in the U.S. Supreme Court’s June 2023 decision to reject affirmative action in college admissions. According to Reuters, American Alliance for Equal Rights, a nonprofit led by Blum, alleges that the Fearless Fund is practicing unlawful racial discrimination. The claim states that the firm is “violating Section 1981 of the Civil Rights Act of 1866, a U.S. law barring racial bias in private contracts, by making only Black women eligible in a grant competition.” Blum’s Affirmative Action Stance Another group led by Blum had brought forth a lawsuit opposing affirmative action, which had initially been struck down by a lower court, per Reuters. The group appealed to the U.S. Supreme Court, and the resulting ruling in June found race-conscious student admissions policies used by Harvard University and the University of North Carolina to be unlawful. View this post...