Robert F. Smith’s Vista Equity Partners has marked off a new milestone. Axios reports that the private equity firm has raised over $20 billion for its new fund — making the fund its largest to date. As a platform that invests in technology companies, Vista Equity Partners is set to focus on artificial intelligence (AI). According to the outlet, Smith wrote to investors ahead of Vista Equity Partners’ annual general meeting in April about what they can expect soon. “You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as a pivotal component of our value creation and underwriting processes,” Smith wrote, per the outlet. He added, “This has enabled us to identify and capitalize on opportunities, including dramatically expanding TAM [total available market], product innovation, GTM [go-to-market] strategies, with greater precision and speed, ensuring that we stay ahead of the curve in a rapidly evolving market landscape.” Before its...

Blavity Inc. has assembled a coalition of leaders to drive equity in technology. In a news release, the technology and news media company has shared it has formed the AFROTECH™ Advisory Board. The board will dedicate its focus to workplace equity and ensuring underrepresented employees, founders, and startups can obtain access to capital and economic mobility.   View this post on Instagram   A post shared by AFROTECH (@afro.tech) “Mobilizing this consortium is a crucial move towards amplifying our impact and reach in creating a more equitable tech industry,” Morgan DeBaun, founder and CEO of Blavity Inc., said in a press statement. “Our concerted effort will focus on practical initiatives that not only enhance workplace equity but also promote significant access to capital and opportunities for our community’s members.” The AFROTECH™ Advisory Board includes representatives of Amazon, American Express, Black Economic Alliance, Chewy, GAP, Google, Infoblox, Jordan Brand, Lam Research,...

Founder Mateus Chipa wants the Black community to be more involved in space exploration. According to a Scripps News report of the 360 astronauts enlisted with the National Aeronautics and Space Administration (NASA), just 18 had been Black astronauts as of Feb 5, 2024. For Chipa, he believed that to increase representation and empowerment it would be necessary for an influential Black entrepreneur to launch a company to break down barriers. According to his website, he waited eight years for Black leaders to step forward. In frustration after that time had passed, he decided to take matters into his own hands and established Theby Space Services (TSS) , a Black-owned private rocket company. “TSS came in a place of a lot of frustration, a lot of accountability and responsibility…For the last 10 years, I’ve been frustrated because I haven’t seen any Black nation or individual talking about going in a space,” Chipa said in a video shared on YouTube. “I’ve been asking myself why? Why...

Today, 645 Ventures announced 645 Ventures Fund III, a $160 million fund “to invest in exceptional Seed and Series A companies.” The firm revealed they normally invest $1 million and $2.5 million per seed round and $5 million per Series A. The company also stated that it’s backed by leading institutional investors, “including university endowments, foundations, funds of funds, and pension funds.” “Fund III allows us to continue partnering with early-stage visionary founders who aspire to build iconic businesses that transform industries and reach large scale M&A and IPO events,” the announcement reads. In addition to the new fund, 645 Ventures is also launching “ Connected Network ,” a team of individual investors, including top technology leaders, business founders, and financiers who’ve scaled their early-stage startups to growth-stage businesses. “We have built and scaled a unique Connected Network of LPs and formed an ambitious internal team of engineers, operators, and...

The onus to create safe spaces for Black creatives has always been on other Black people. Before the public health crisis, these welcoming locales, where creatives could openly exist and express without the judgment of white gaze — whether virtual or IRL — were precious and rare. Founded by Naj Austin, Ethel’s Club is one of these sacred centers: a social club where members of the Black community have access to healing through “conversation, wellness and creativity.” Following the pandemic, Austin pivoted to an all-virtual membership, offering the same much-needed resources and space to her members. “We understand that lots of people are currently out of work, have no idea if that work will even come back and still need some semblance of peace and space,” she says. “Amid all of that, we started offering free group healing sessions once a month or twice a month to provide for people who, you know, need a space to then talk to someone, meet a therapist, whatever it may be, because the...

As a Black entrepreneur, the location of your startup is an important decision. Fit Small Business compiled a list of best states for Black entrepreneurship, and the state of Georgia ranks number one followed by Texas and Florida. The study found that the top-ranking states had high numbers of African American-owned businesses as well as fair average corporate tax rates. With Black-owned businesses, on the rise these states offer unique assets to Black entrepreneurs. States were ranked according to social and financial equality, Black-owned business success, economic health, and startup climate and opportunity. Fit Small Business recognizes that Black-owned businesses and entrepreneurship are at the foundation of the U.S. economy. Around 39 percent of participants believe the American economy will see improvement and be in a better position if Black entrepreneurs had more opportunities. “With this being the inaugural study, our goal was to focus on the data that paints an overall...

The days where employees tiptoe on the outside of the inner circle of highly-ranked executives are long gone. Now, as founders, CEOs, and small business owners, let’s stay true to only being as good as our team by actively engaging with our employees. According to Gallup, employee engagement not only increases company morale but also increases productivity and boosts profitability by 21 percent. To began interacting with your employees, follow the tips below: Don’t Hide in Your Office Many CEOs have an open-door policy, but true employee engagement happens when you actually come out of your office. Sometimes an open-door policy is not enough, and in certain situations, it can be counter-intuitive to the CEO and employee’s relationship. According to CBS News , a Cornell University professor actually thinks an open-door policy could deter employees from communicating with higher-ups. Think about it — who would want to knock on the door of the boss who is rarely seen and gives off an...

If you want groceries delivered to your door, you might choose between Amazon Fresh or Instacart. If you want to book a last-minute appointment with a beautician or a makeup artist, you might turn to StyleSeat. Spotlist, Inc. wants to be the one-stop-shop for various kinds of services so that customers never have to leave the house for their needs. The on-demand New Jersey-based platform is set to provide services across industries whether customers are in need of a makeover, a new hairdo, deliveries, or in-home massage. Spotlist, Inc., founder and CEO, Jae Pesante began developing her idea for the company while caring for her father, who was healing from surgery. “I always tell people that Spotlist wasn’t a company I came up with sitting around thinking of a way to make money. My father suffers from heart disease, and after his defibrillator surgery, he couldn’t drive,” Pesante said. “He told me that he wished he could have someone to service him at home.” Spotlist allows users to...