Illumen Capital, a leader in impact investing, has launched the $32.75 million Catalyst Fund to support first-time fund managers and entrepreneurs, particularly those from underrepresented backgrounds. For the first time, the impact fund of funds has integrated direct investments into its broader strategy, investing directly in diverse-led early-stage companies as well as fund managers. The Catalyst Fund The Catalyst Fund arrives at a critical moment, with Black founders receiving less than 1% of venture capital funding last year, according to Crunchbase. This decline shows persistent biases in the venture ecosystem,
Milwaukee Bucks star Giannis Antetokounmpo has launched a new venture capital firm, Build Your Legacy Ventures (BYL Ventures). Build Your Legacy Ventures This innovative firm aims to create growth in sports and entertainment industries by connecting founders with industry leaders. “This fund is not just about capital,” Antetokounmpo stated in a press release. “It’s about forging partnerships and opening my network to accelerate the growth trajectory for companies. I want to help other entrepreneurs, especially those who have faced barriers, to grow and succeed.” Backing Women in Sports BYL Ventures
Efforts to combat the disproportionate rates of Black maternal mortality are gaining momentum with the Virtual Black Maternal Health ECHO program. Launched by Indiana University (IU) in collaboration with the Indiana Minority Health Coalition, the program uses telehealth technology to bridge gaps in maternal healthcare and create collaboration among healthcare professionals nationwide. Addressing Urgent Maternal Health Disparities In the US, Black maternal mortality remains alarmingly high, with rates nearly double those of their white counterparts. Experts attribute this disparity to systemic issues, including healthcare access inequities, implicit bias, and fragmented
African entrepreneurs are deeply committed to their startups, but the cost of this passion often impacts their mental health, a new report from Flourish Ventures reveals. The study, which surveyed over 160 founders across 13 African nations, found that more than 80% experience mental health challenges, with anxiety (60%), stress (58%), exhaustion (52%), and depression (20%) being the most common issues. Key Challenges Affecting Founders External pressures like fundraising, inflation, and economic instability weigh heavily on entrepreneurs. Nearly 60% of respondents said raising funds is their biggest stressor, followed by
November is Native American Heritage Month, a time to celebrate the rich traditions, cultures, and contributions of Native American communities across the United States. In tech, Native Americans are making groundbreaking strides, breaking barriers, and inspiring future generations. Here we shine a spotlight on five trailblazers who are redefining success. Aaron Yazzie: Developing Tools for Mars Exploration As a mechanical engineer at NASA’s Jet Propulsion Laboratory, Aaron Yazzie, a Diné (Navajo) Nation member, designs critical systems for space missions. His work on the Mars Perseverance Rover, particularly the drill bits
Recently, REVOLT, a prominent Black-owned multimedia company, announced the launch of Black Shift. Developed by its creative agency, Six Zeros, Black Shift is an AI-powered research platform designed to help brands better understand and engage with Gen Z, particularly within the Black community. This initiative dives into the aspirations, values, and behaviors shaping one of the most culturally influential generations. A Data-Driven Approach to Understanding Gen Z Black Shift combines over 500 hours of interviews with insights from 700 Gen Z participants across the US. Using personalized AI tools, the
Joanna Smith-Griffin, founder of the education-focused AI startup AllHere Education, has been charged with fraud and identity theft after allegedly misrepresenting her company’s financial health and customer base. Smith-Griffin, 33, reportedly secured nearly $10 million in investments by inflating revenue figures and claiming non-existent contracts with major school districts, including New York City Public Schools. Misrepresentation and Personal Gain Launched in 2016, AllHere Education aimed to combat absenteeism in schools using an AI chatbot named “Ed.” By 2021, Smith-Griffin asserted that her technology was adopted by eight major districts. However,
Google has unveiled the latest cohort startups selected for its Google for Startups Accelerator: Africa program. The six Black-led South African startups were announced at an event coinciding with this year’s Africa Tech Festival, which was held in Cape Town, South Africa. Google for Startups Accelerator: Africa The three-month hybrid accelerator program supports Seed to Series A technology startups led by at least one Black founder. This opportunity includes ZAR1 million ($50,000) in non-dilutive funding, up to ZAR3.6 million ($200,000) in Google Cloud credits, and access to mentorship and industry networks. By
As Transgender Awareness Week shines a spotlight on the challenges and achievements of the transgender community, the tech industry offers inspiring stories of resilience and innovation. This week, we’re celebrating trans people of color in tech who are breaking barriers, creating opportunities, and shaping a more inclusive future in one of the world’s most dynamic sectors. From empowering marginalized communities to championing diversity in STEM, these leaders are making waves in the industry and beyond. Here’s a closer look at some of the trailblazers leading the charge for equity and
Shaquille O’Neal, former NBA star and current sports commentator, has reportedly agreed to an $11 million settlement to resolve a class action lawsuit over his promotion of Astrals non-fungible tokens (NFTs). Shaq’s NFT Lawsuit And FTX Links Under Legal Scrutiny The settlement, awaiting court approval, also addresses separate claims linked to the collapse of cryptocurrency exchange FTX. The lawsuit was filed after investors alleged they suffered financial losses tied to Astrals NFTs, a collection of 10,000 digital collectibles promoted by O’Neal. Plaintiffs argued that his celebrity endorsement heavily influenced their
