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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...
Here at AfroTech, we’re all about building the next generation of Black millionaires, and there’s no better way than having conversations with people who are actively doing the work to make it happen. On the latest episode of the Black Tech Green Money podcast, host Will Lucas is joined by the founders of Collab Capital to discuss not only what’s missing in the venture capital space to meet the needs of Black founders, but what is required beyond capital to fully succeed as a Black Founder. Managing partners, Barry Givens, Jewel Burks and Justin Dawkins have some tips on how and why they’re unapologetically Black when it comes to building up founders and making sure they’re on track to build successful startups. “It is so important right now to be supporting and investing in Black founders because we know that this year alone has been crazy for everyone, but particularly for Black founded businesses,” says Jewel. “There are some scary statistics out there around the fact that 40% of...
The market for licensing streamed music has seen an uptick in the last few years, with more consumers and creators using music as part of their productions on video-streaming platforms. In an effort to simplify the legal process involved with acquiring rights to use songs in said productions, Music Tech Works — a Black-founded music licensing platform — created a streamlined method to help assist TV, film, ad agencies, and video game production companies. Music Tech Works was founded by music/media industry veterans Jarrett Hines and Bryson Nobles to resolve the issues that arise across TV, film, video games, and advertising when trying to obtain licensing for commercial music. As a platform referred to as “the future of music licensing,” Music Tech Works holds one of the largest rights holder databases in the world with more than 60 million songs for its users. The innovative music platform is looking to expand on its growing database, and will now receive financial assistance from...
Staying true to its mission Collab Capital — an Atlanta-based alternative capital solution — is taking an all hands on deck approach to make sure Black founders don’t fall by the wayside during the COVID-19 outbreak. Led by tech entrepreneur and the first Head of Google for Startups, Jewel Burks Solomon; TechStars Directing Manager, Barry Givens; and successful entrepreneur, Justin Dawkins; Collab is centered around investing in tech startups and providing a pathway for wealth in Black communities. On April 5, Collab will host its Bet it All on Black online panel discussion featuring some of the industry’s top voices including Ryan Wilson of The Gathering Spot, Lecrae, Cortez Bryant, music manager to Lil Wayne, Kim Blackwell, founder of PMM Agency, and more. The online event is free and will focus on how Black businesses can come together in a collaborative effort to make sure all of our businesses not only survive but thrive on the other side of the outbreak. Along with their...