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Growth Warrior Capital has raised new funding to support enterprise companies being fueled by artificial intelligence (AI). The operator-led venture firm, which invests in early-stage Enterprise AI companies, was created by Promise Phelon, a former Silicon Valley tech CEO with more than 15 years of experience as an angel investor. According to a news release shared with AFROTECH™, her career trajectory has led to an expansive network , some of whom have now invested in Growth Warrior Capital’s first fund, which totals $26 million. Limited partners include Ho Nam and Han Kim (Altos VC) and well as Seth Levine and Brad Feld (Foundry). Amazon Catalytic Capital, Bank of America, Bessemer Venture Partners, Pivotal Ventures, and more are also listed as limited partners. “My goal is to be the first VC fund of significant scale run by a woman of color,” Phelon, founder and managing partner, said in a news release. “We have the backing of VC industry legends, and their support is proof of...

Black wealth, especially at the billionaire level, remains a statistical anomaly in global finance. But in 2025, that narrative continues to shift — if only incrementally. According to Forbes, out of 3,028 billionaires worldwide, only 23 are Black, representing less than 1% of the list. Despite this underrepresentation, these 23 individuals collectively hold an impressive $96.2 billion in wealth. The figures tell one story. The names behind them tell another story — one of legacy, innovation, cultural power, and long-game strategy. This year, two notable newcomers joined the global roster of Black billionaires: Sheila Johnson, the media and hospitality powerhouse, and Herriot Tabuteau, a biotech founder with a focus on brain health. Both represent not only financial achievement but industry-specific influence in spaces where Black leadership is often overlooked or underestimated. Who’s New To The 2025 Black Billionaires List? Sheila Johnson, widely known as the co-founder of Black...

Spill is allowing its users to have a stake in its success. As AFROTECH™ previously reported , the social media app was created by Alphonzo “Phonz” Terrell and DeVaris Brown who had both worked for Twitter. In 2022, Terrell was laid off around the time Elon Musk had acquired the platform now known as X, while Brown had exited the company in 2020. Terrell says the focus in Spill’s creation was to support his colleagues and to answer a personal call, which was branching out to build a new platform. “Starting as a non-technical founder, that was a pretty daunting challenge. And I think it was that mindset of just determination that no matter what, I’m going to figure out a way to make something,” Terrell shared on the “Black Tech Green Money” podcast hosted by AFROTECH™ Brand Manager Will Lucas. “If I don’t raise a dollar, if I got to do whatever, everything starts, I think, from that particular mindset, and that is what’s magnetized.” He continued, “I think the type of energy that...

President Donald Trump’s 10% tariff on all countries took effect over the weekend, and on Monday, April 7, U.S. stocks fell by at least 20%, entering what is known as a “bear market,” CNN reported . According to Dictionary.com, a bear market — the opposite of a bull market — is a prolonged period of declining stock prices , generally defined as a drop of 20% or more from a recent high, though not a formal measurement. On Thursday, April 3, stock markets had already experienced their worst day since the start of the COVID-19 pandemic in 2020, AFROTECH™ reported. Then came Friday with another record drop. The S&P 500 index, which tracks 500 leading U.S. companies, fell by over 4%, marking a decline of more than 16% from its peak. The Russell 2000 index, which follows smaller U.S. companies, plunged by 5.3%. The tech-heavy Nasdaq Composite index — already in a bear market — had experienced a decline of over 5% on Thursday, marking its worst trading session in more than five years. It...

Unrivaled, a 3-on-3 women’s basketball league, had solid revenue in its first year. Investing In Its Athletes From The Start As AFROTECH™ previously reported, the Medley, FL-based league with 36 players was created by Napheesa Collier and Breanna Stewart and offers the highest-paid salaries in women’s sports, with an average salary of over $200,000. The league has also provided incentives to players, with $50,000 allocated to each player on the winning 2025 Playoffs team. This year’s reigning champion is the Rose BC, led by Coach Nola Henry and featuring players Brittney Sykes, Angel Reese, Kahleah Copper, Azura Stevens, Lexie Hull, and Chelsea Gray. View this post on Instagram A post shared by Rose BC (@rosebc) What’s more, Unrivaled is pushing the boundaries of what it means to invest in women’s sports. The league provides a makeup room, weight room, and daycare center for practice and games, per Front Office Sports, and it has partnered with Samsung as its official presenting and...

The U.S. job market is sending mixed messages — and workers are caught in the middle. On one hand, employers are adding jobs at a pace that suggests economic growth. On the other hand, unemployment is rising and confidence in long-term stability is shrinking. It’s a win-loss moment for the American workforce: The numbers are up, but the foundation feels shaky. According to CNN, the U.S. economy added 228,000 jobs in March, beating expectations and extending a 51-month streak of job growth — one of the longest in U.S. history. Yet, in the same report, the unemployment rate ticked up to 4.2%, indicating that while more people are entering the labor force, not everyone is finding a place in it. The Strengths And Limits Of The Job Market March’s numbers were encouraging in many ways. Job creation exceeded expectations, and average wages rose 0.3% for the month, slowing to a 3.8% year-over-year increase. Economists had predicted slower growth — around 130,000 new jobs — but the market...

CoCo Gauff is on a mission to “take greater ownership” of her tennis career, starting with launching her own management agency. On Wednesday, April 2, Gauff, describing herself as an “athlete, entrepreneur, and changemaker,” announced the launch of Coco Gauff Enterprises. The initiative is supported by talent representation agency WME (William Morris Endeavor), which Gauff asserted has the “vision and resources to help me explore all of the opportunities ahead.” “From the moment I first picked up a tennis racket, I’ve always believed my purpose extended far beyond the court,” Gauff’s post said. “Today, I’m thrilled to announce CoCo Gauff Enterprises, a venture that reflects my passion for making an impact—not just in tennis, but in business, philanthropy , and beyond.” View this post on Instagram A post shared by Coco Gauff (@cocogauff) The venture marks the end of Gauff’s partnership with Team8, the boutique agency co-founded by former Swiss professional tennis player Roger Federer...

Friday, April 4, 2025, marked the second consecutive day major U.S. stock indexes fell sharply, a downtrend that follows President Donald Trump’s recent tariffs announcement and China’s Friday morning declaration to impose a 34% duty on U.S. goods in retaliation. According to NBC News, significant market losses included Tesla , Elon Musk’s electric vehicle company, which fell by approximately 10%; agricultural equipment leader Caterpillar, down about 6%; and top AI chip manufacturer Nvidia, which declined by approximately 7%. The S&P 500 index, which tracks 500 leading U.S. companies, dropped more than 4%, down more than 16% from its peak. The Russell 2000 index, which follows stocks of smaller U.S. companies, plummeted by 5.3%. Global markets also experienced significant sell-offs, with European stocks declining 10% from recent highs and Asian markets facing sharp drops. After the market had closed on Wednesday, April 2, 2025, Trump announced from the White House’s Rose Garden that...