Black-Owned Venture Capital Firm Collab Capital Closes Its New $75M Fund
Venture capital firm Collab Capital has closed a $75 million Fund II, with backing from Apple, Goldman Sachs Asset Management, and The Leon Levine Foundation.
The fund will focus on Seed and Series A investments, supporting founders who, as Collab puts it, are “best equipped to solve real-world, consequential problems through unique market expertise and lived experience.”
Using Fund II to sharpen its investment model
Collab Capital was founded by Barry Givens, Justin Dawkins, and Jewel Burks Solomon, who gained Silicon Valley prominence as the first head of Google for Startups US.
Fund II will support early-stage startups addressing fundamental needs across work, healthcare, and community infrastructure. The raise comes on the heels of Collab’s successful $50 million Fund I and brings both new and returning limited partners into the fold, increasing the firm’s total assets under management to $125 million.
“Fund I showed us what’s possible when you back the right people with the right support,” co-founder Jewel Burks Solomon said. Following the success of Fund I, Collab continued to refine its investment model, organizing its approach around three key thematic pillars: economic mobility, healthcare access, and community infrastructure.
“Fund II is about scaling that belief and deepening our conviction that proximity is power and that founders closest to the problem are best positioned to solve it. We’re investing in the infrastructure of an inclusive economy, where real solutions generate real returns for our communities and for our investors,” Solomon adds.
Collab investing in over 30 companies
Fund II will enable Collab to invest $1 million to $2 million in approximately 30 companies over a five-year period. Six companies have already received investments, including SparkCharge – the world’s first mobile, off-grid EV charging platform for fleets; River Health – a telehealth provider delivering affordable, membership-based healthcare; and A0 – a platform transforming mobile development by using AI to generate fully functional React Native apps in minutes.
The VC firm will also continue to prioritize founder well-being, offering free therapy sessions through a partnership with CWC Coaching and Therapy to every founder in its portfolio.
“Fund II is designed to be a flywheel where early investment, deep founder support and long-term partnership build momentum and multiply outcomes,” Barry Givens, co-founder and managing partner said.
Image: Collab Capital
