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Nigerian Mobility Fintech Company Shekel Mobility Raises $7M To 'Transform' The $30B African Automotive Market

A Lagos, Nigeria-based B2B marketplace is further supporting auto dealers in Africa with affordable financing.

Nov 14, 2023

Exclusive: MaC Venture Capital, Michael B. Jordan Name Healthy Hip Hop As The Winner Of Legacy Classic Startup Pitch Competition

The winner for the Invesco QQQ Legacy Classic Startup Pitch Competition has been announced.

Feb 4, 2023

Michael B. Jordan, MaC Venture Capital Return For Invesco QQQ’s Legacy Classic Startup Pitch Competition

The Invesco QQQ’s Legacy Classic is making its grand return with MaC Venture Capital and Concrete Rose Capital. And, it’s set to be even bigger. Courtesy Photo

Nov 9, 2022

MaC VC Managing Partner Marlon Nichols Gives A Play-By-Play On Investing In Valuable Companies

Let’s talk equity and investing! The latest episode of Black Tech Green Money is a blast from the past with Marlon Nichols — a founding managing partner at MaC Venture Capital — from AfroTech 2017. For those who may not understand the ins and outs of startup funding rounds and all that it entails, listen closely because Nichols gives AfroTech a good play-by-play.

Dec 28, 2021

Gerome Sapp's Sneaker Investment App Rares Secures $4M In Seed Funding Round

Fintech startup Rares, a sneaker investment app, launched earlier this year and recently earned $4 million in a seed funding round. The round was led by MaC Venture Capital on Oct. 11 and participants included Cake Ventures, Portfolia Rising America Funds I and II,  Evolution VC, W Fund and Gaingels, according to a press release. As previously reported by AfroTech, Rares was founded by former NFL player Gerome Sapp and his business offers its users fractional ownership through rare, high-priced sneakers. Rares’ mission is to give back to the Black community through providing accessibility to the sneaker market “by creating a new class of sneaker enthusiasts powered by financial literacy and cultural equity.” View this post on Instagram A post shared by Rares (@raresapp) “Access to significant capital has been the achilles heel for many entrepreneurs, especially women and other minorities,” Sapp said in a press release. “So as a minority, being able to close this significant SEED...

Oct 19, 2021

Exclusive: Michael B. Jordan, Serena Ventures, MaC Venture Capital Partner To Give HBCU-Bred Founders A Chance To Win $1M

Invesco QQQ Legacy Classic — a college basketball showcase — is bringing Historically Black College and University (HBCU) culture to television screens across the nation. View this post on Instagram A post shared by Invesco US (@invescous) Airing on Dec. 18, the TNT broadcast will feature a doubleheader competition of Hampton University versus North Carolina Central University and Howard University versus North Carolina A&T University. The inaugural Legacy Classic is set to bring viewers into a full-blown HBCU experience, and now, the event is also creating opportunities for current HBCU students and alumni. According to a press release provided exclusively to AfroTech, the Invesco QQQ Legacy Classic has partnered with MaC Venture Capital and Serena Ventures — tennis legend Serena Williams’ investment firm — to create a Startup Pitch Competition for HBCU founders. “At MaC we like to say that talent is ubiquitous but access to opportunity is not,” MaC Venture Capital General Partner...

Oct 18, 2021

MaC Venture Capital Raises a $110M Inaugural Fund to Invest in Visionary Tech Leaders Building the Future

Seed-stage VC firm MaC Venture Capital is on a mission to invest in today’s visionary tech founders and startups that are creating cultural trends to build a better tomorrow. To support this mission, the majority Black-owned firm has announced that it’s just closed on its $110 million inaugural seed fund. According to an announcement shared with AfroTech, MaC Venture Capital designed this fund to back seed-stage tech startups across several different business sectors — including fintech, e-commerce and marketplaces, interactive media, connectivity, enterprise SaaS, space and aerospace, logistics, and more — that are leveraging shifts in culture and behavior. Limited partners for the fund include Foot Locker, Inc., Goldman Sachs, Greenspring Associates, Bank of America, Howard University, MacArthur Foundation, the University of Michigan, State of Michigan Retirement System, and Mitch and Freada Kapor, among many others. MaC Venture Capital — made up of founding general partners...

Mar 25, 2021

African Supply Chain Sote Raises $3M Seed Round to Build Digital Logistics Infrastructure For Continent

Global logistics — which is the process of managing the flow of goods through the supply chain — is a trillion-dollar industry that’s in dire need of a technological overhaul, with Africa nearing the top of the list. Africa plays a huge role in transporting goods all around the world and requires a great deal of coordination between commercial and government sectors. As the logistics system spans across languages, borders and customs, it also requires much assistance from a host of tech-based platforms as well. Thanks to the business model of African supply-chain-focused company Sote , the continent’s narrative of being a rising global competitor has potential to grow as it ushers itself more into the tech space. The company — co-founded by Felix Orwa and Meka Este-McDonald — has launched Africa’s first licensed tech-enabled customs clearing and forwarding service in order to build its digital logistics infrastructure up. Moreover, today Sote announced that it has raised a $3...

Nov 12, 2020

MaC Venture Capital's Latest Report Reveals Gaming Industry's Potential to Change the World

Gaming companies are reaching incredible milestones this year far beyond revenue expectations set for the industry. With this in mind, it’s safe to assume that gaming is becoming a bigger entity central to the growth of tech and it will only continue to expand. Today, MaC Venture Capital — an early-stage venture capital firm that invests in growing tech companies — released a report as part of their “Culture Shifts: The State of Technology and Culture” series identifying societal and behavioral trends that influence global pop culture. Gaming Takeover outlines how the gaming industry is shifting the world’s practices as well as the growth opportunities it offers for innovation and investment in the near future. The report shares how the billion-dollar video game industry merges both the physical and digital worlds, pulling cultural references from every sector including education, music, movies, TV, sports, medicine, national defense, construction, and politics. “What started in the...

Sep 29, 2020