Showing 33 results for:
investing
Popular topics
All results
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...
Apr 23, 2024
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...
Apr 16, 2024
This Tuskegee, AL-based Historically Black College and University (HBCU) has received a whopping donation. According to a news release, an anonymous donor has donated $20 million to Tuskegee University, which is going toward developing STEM programs and applied research. “This gift will allow us to invest in our students, faculty, programs and infrastructure, enabling us to enhance our academic reputation, enrich the student experience, and continue our work to reach milestones within our strategic plan,” Tuskegee University President Dr. Charlotte P. Morris shared in a statement. “It will provide additional resources for us to implement vital initiatives, further securing the campus, and foster a more dynamic community.” She continued, “We are grateful for this extraordinary act of philanthropy, which will undoubtedly leave a lasting impact on our university and its community. This contribution is a testament to our collective efforts and the enduring trust inspired by the Tuskegee...
Apr 15, 2024
Something new is on the horizon when it comes to investing in companies that are often overlooked and underserved, and these Black founders are helping to lead the charge. According to Forbes , Westbound Equity Partners, a venture capitalist firm spearheaded by former nonprofit director Sean Mendy is on a mission to pour millions into companies led by Black, Latin, and diversity-driven founders. “We aren’t investing in underrepresented founders as this altruistic thing,” Mendy told the outlet. “This fund is about investing in the best companies and performance. Explicit impact is what we’re doing on the foundation side.” Since its inception in 2019, the firm formerly known as Concrete Rose Capital has managed to invest in over 40 startups as well as tap into what Mendy says is “the diversity opportunity,” which provides capital to underrepresented founders, especially Black and Latino companies. What’s more, there is a key focus on startups with goals of serving their communities....
Apr 11, 2024
Real estate investor Cheick Sanankoua is investing in African sports. Sanankoua, former Merrill Lynch analyst and Helios Investment Partners investment adviser, is the founder and chairman of Omega Sports Holding LLC, a private investment firm that launched in 2022 alongside Jean-Luc Agboyibo (CEO) to disrupt the sports industry. According to his Bloomberg, the firm is looking to fulfill a “ $50 million investment push into African sports over the next three years.” “We are coming in at an early investment stage, with a plan to bring more institutional investment into African sports and to try and create a bigger economy around the sector,” said Sanankoua, 40, according to Bloomberg. The outlet reports Omega Sports Holding previously invested in Abidjan Basketball Club. Now, the firm has signed off on a second deal, purchasing minority stake in Racing Club d’Abidjan. The Ivory Coast-based team, founded in 1948, is a partner club of OGC Nice, which is owned by billionaire Jim...
Jan 30, 2024
Chamillionaire’s status was destined once he chose his stage name. Born Hakeem Temidayo Seriki, Chamillionaire started in the music industry alongside Paul Wall after forming their group, The Color Changin’ Click. By 2005, the rapper was officially solo once he released his debut album, “The Sound of Revenge,” which featured his four-time platinum hit single, “Ridin’.” After his sophomore album, multiple projects, and parting ways with Universal Music Group, Chamillionaire became more focused on entrepreneurship. According to Celebrity Net Worth, the rapper-turned-businessman’s pivot has brought his net worth to an estimated $50 million.
May 10, 2023
Stackwell is on a mission to help students to build wealth.
Dec 12, 2022
Financial literacy does not have to be presented as a foreign concept, at least that’s what this founder believes. View this post on Instagram A post shared by nmc (@neonmoneyclub)
Sep 27, 2022
Seeing some people despite their availability to be there in person has just gotten easier. Proto, Inc. (formerly PORTL) and Diddy have joined forces, announcing that the Bad Boys founder is an advisor to the holoportation firm. Porto operates in numerous industries that include but is not limited to entertainment, education, retail, fashion, and marketing. Sean Combs invested in Proto’s advanced proprietary technology that allows interactive holoportation possible. The company’s technology allows any person to “beam” to any location in real-time when they cannot be there physically. The hip-hop mogul was first introduced to the holoportation technology when he beamed from Miami to Los Angeles to sing happy birthday to his son, Christian “King” Combs. “Sean Combs has always been an inspiring pioneer in music and business, constantly changing the game with whatever he does,” said David Nussbaum, CEO, and Founder of Proto Inc. “We were honored to bring his family together last Spring,...
Apr 15, 2022
Looking to expose beneficial financial practices, Stackwell Capital will release a new application that will target Black Millennials and Generation Z Americans. Users will be introduced to educational resources and pre-built portfolios, according to information provided to AfroTech. The investing affinity application aims to eradicate the wealth gap for Black Americans. “Before founding this company, we fundamentally believed that the racial wealth gap is a social justice issue of our time that directly impacts many of the other gaps that have left people in the Black community feeling like they’re not set up for success in this country,” Stackwell Founder and CEO Trevor Rozier-Byrd told AfroTech. “Ultimately, I founded Stackwell to help more people in the Black community leverage the power of the market so that they could grow their wealth and have greater agency control to direct outcomes that better their lives, particularly those in the Millennial and Gen Z population where the...
Apr 7, 2022
Career Karma is still on a mission to help more people break into the tech industry . The company — founded by Ruben Harris — seeks to provide those wanting to launch careers in tech by equipping them with the right job training programs and support as they progress throughout their careers. Today, the company has even announced a $40 million Series B funding round that was led by Top Tier Capital Partners, a San Francisco-based global venture capital firm. With the latest funding round, the company will expand into higher education as well as lock in new key roles at Career Karma. “There is currently not one company that dominates the reskilling space. Whichever player aggregates demand will become the category leader in the $2.2 trillion post-secondary education market ,” said Credit Karma CEO Ruben Harris in an official news release shared with AfroTech. “With over 10 million job openings in the United States and more than 4 million people who have recently quit their jobs,...
Jan 10, 2022
As part of Harvey Ventures, Steve Harvey and his daughter Lori Harvey have invested in a variety of Black-owned businesses. The company’s website explains that in addition to investing in such companies as Wish and 23andMe, they’ve invested in Black-owned businesses like Brotha Bakes. Now, too, Harvey Ventures has added MOON Ultra to their investment portfolio. Co-founded by Edward Madongorere and Dishen “Dixon” Yang, this Black-owned business has invented a product that was named one of TIME Magazine’s “Best Inventions of 2020.” For Lori Harvey, though, the investment in the company was a natural one. “With the fast-paced growth that digital innovation continues to bring into our creator economy, it was important to me to align myself with a company that prides itself on empowering not only its internal team, but its direct consumers to be the best versions of themselves,” she told AfroTech exclusively. “And for me, that is MOON Ultra.” Based in Austin, TX, MOON Ultra has created a...
Nov 16, 2021
Goalsetter is making sure the next generation of Black and Latinx Americans is free from the financial burdens that have held us back for so long! As previously reported by AfroTech, Vista Equity Partners’ Robert F. Smith and Goalsetter’s Tanya Van Court announced the “One Stock. One Future.” initiative in October 2021. The initiative served as a call to action for both organizations and corporations to build up young people of color and set them on a path to financial freedom. It kicked off after Smith gifted five shares of stock — equivalent to about 15,000 total shares — to nearly 3,000 students, educators and staff members at the Eagle Academies for Young Men, a network of public, all-boys schools serving young men of color in New York City and Newark, NJ, according to a press release. As this called for a celebration, those Black students, the Black Billionaire, Black tech entrepreneur, Black educator and young Black men from the Morehouse Class of 2019 all graced the NYSE...
Nov 16, 2021
The spurious offspring of Twitch and Slack, Trading.TV recently announced the closing of a $6.1 million seed. The round was led by Tribe Capital, Navy Capital, L Catterton Growth, and Activant, Benzinga previously reported. A portion of the revenue will open a $1 million creator fund which will prioritize the monetization and growth of creative platforms before the fall projections for public availability. Founder and CEO Tobias Heaslip recognized a shift in lucrative revenue for the emerging creative economy during his decade tenure as a trader and analyst. His previous roles involved contributions for Morgan Stanley, Goldman Sachs, and Barclays. “It was sort of the golden age of investment banking as it relates to TMT deals and social media was just becoming an investable asset class,” Heaslip revealed in a statement.
Sep 2, 2021
What is forex trading and what’s the hype about it right now? Forex is short for foreign exchange, which is the trading of one currency for another. These trades happen on the foreign exchange market which is operated electronically through banks, brokers, and other financial institutions, Investopedia reports . Christopher Raxton first got his experience with forex trading during his undergraduate career at Michigan State University when he came across TradeHouse Investment Group. TradeHouse is a community of financial leaders who educate people on how to properly invest in the foreign exchange market. The group champions itself for being all about financial literacy while giving its members access to resources and tools to earn money. Raxton is 24 now, living in Atlanta and leading his own company called Money Team Investment Group . While he was in law school, he decided to switch careers when he found himself finding much success trading in the foreign exchange market. AfroTech...
Jun 9, 2021