September 11, 2023

Amazon Catalytic Capital Expands: 4 New VC Funds Join The Mission For Diversity And Innovation

Amazon Catalytic Capital, launched in 2022, has announced four new venture capital funds, bringing its total portfolio to eight.

Amazon Catalytic Capital

Amazon Catalytic Capital was launched as a $150 million commitment focused on investing in Black, Latine, Indigenous, women and LGBTQIA+ builders in tech.

Specifically, the initiative provides capital to funds, venture studios, accelerators, or incubators that back startups led by underrepresented founders.  

Recipients also receive 1:1 mentorship from Amazon executives and unique business opportunities for partnerships, technical support, and scaling resources.

Amazon Catalytic Capital has announced its investment in four new venture capital funds, bringing its portfolio to eight.

“Amazon Catalytic Capital and broader Amazon agree with our mission of empowering companies led by diverse and female founders and changing the way we work, earn, and build wealth for these communities,” said Promise Phelon, founder and managing partner of Growth Warrior Capital.

The Four New Funds

Exceptional Capital 

Marell Evans and Andrew Van Next lead Miami-based Exceptional as a pre-seed and seed-stage venture firm.

It focuses on being the investor for B2B software startups in the U.S. and up to 15% globally.

Growth Warrior Capital

Austin-based GWC is a venture capital fund led by Promise Phelon, striving for a world where Economic Sovereignty is at the forefront.

It invests at the seed and Series A stages, focusing on startups building equitable solutions.

“We are excited to work with Amazon Catalytic Capital to continue our model of going beyond capital in the support we give our founders,” said Phelon.


Tristan Walker leads Heirloom as a venture capital fund investing in early-stage companies.

They focus on companies committed to developing culturally-connected products and services that improve the lives of people of color.

The Artemis Fund

Artemis is a venture capital firm on a mission to diversify the face of wealth.

Led by Stephanie Campbell, Leslie Goldman Tepper, and Diana Murakhovskaya, Artemis invests at the seed stage, focusing on companies led by women founders and innovating in fintech, e-commerce, and care tech.

Sara Keenan

Tech Reporter at POCIT. Following her master's degree in journalism, Sara cultivated a deep passion for writing and driving positive change for Black and Brown individuals across all areas of life. This passion expanded to include the experiences of Black and Brown people in tech thanks to her internship experience as an editorial assistant at a tech startup.