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Elevate Capital

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Elevate Capital Launches $40M Fund to Queue Up Investments in Six Startups All Led By Black Founders

Inclusive investing is seeing a huge uptick in the venture capital world, and Elevate Capital’s latest announcement continues this mission of bridging the funding gap between underserved and overlooked entrepreneurs. Elevate Capital — a VC firm that invests in early-stage underrepresented entrepreneurs, including women, people of color, and veterans — recently shared that it completed a $26.0 million first close of its Elevate Fund II, which aims to lend support to those often excluded from gaining access to capital. “According to Morgan Stanley, there is a $4 trillion wealth gap for women and minority-owned businesses,” said Nitin Rai — Founder and Managing Partner of Elevate Capital — in a statement. “We are showing with our performance that our model can support these entrepreneurs and get phenomenal returns for our investors. Fund II will allow us to expand our proven model to have more reach and make larger investments.” A press release shares that so far Elevate Capital and...

Njera Perkins

Jan 27, 2021