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Resilient Ventures, Inspired By Durham's Black Wall Street, Closes $3.45M On Fund For Black Startups

Back in the early 1900s Parrish Street’s four-block district in Durham, North Carolina used to be home to a plethora of Black-owned businesses. Though those businesses do not exist today, this venture capital fund is working to keep the district’s legacy alive. Resilient Ventures — a fund comprised of local angel investors — is a capital fund that was created to mirror the mission of Durham’s Black Wall Street in an effort to provide more opportunities for Black-led startups all across the country. According to its website, Resilient Ventures was founded on principles and values that aim to “disrupt systemic economic injustice by expanding access to capital, networks, and opportunity to companies.” As of this week, Hypepotamus reports that just two years after its launch and amid the pandemic, Resilient Ventures has closed on a $3.45 million fund from 24 investors total described as “mostly accredited individual investors from their network,” who contributed to the fund. Though the...

Apr 2, 2021