Breega, a Paris-based venture capital firm, has announced the first close of its $75 million Africa-focused fund, designed to back pre-seed and seed-stage startups. Expanding Horizons With Local Presence Breega’s new fund, “Africa Seed I,” marks its first foray outside Europe and aligns with opening two new offices in Lagos and Cape Town. These new locations join Breega’s existing offices in Paris, London, and Barcelona, enhancing its presence across the EMEA region. According to Ben Marrel, Breega’s co-founder and CEO, the firm’s approach is rooted in its “founders-for-founders” ethos, offering
Goldman Sachs is standing firm in its commitment to support Black women through its One Million Black Women initiative as it expands its Black in Business program, according to The Guardian. Launched in 2021, the One Million Black Women initiative pledges $10 billion in investments and $100 million in philanthropic funding over a decade to address racial and gender inequality. Doubling Down On Black In Business Program This fall, Goldman Sachs is expanding its Black in Business education program, doubling the number of entrepreneuers it accepts. The Black in Business
Black Space Week Roll Call has taken over X, showcasing Black professionals in the space industry, leading them to The White House. Black In Astro Each year, Black In Astro hosts a Black Space Week to celebrate the achievements of Black Americans in space-related fields. The Black In Astro journey began in June 2020, in the wake of a series of violent police attacks against Black Americans. Founded by Ashley Walker, a PhD student at Howard University, Black In Astro was designed to link together a community of Black scientists
The Tech Talent Charter (TTC), a diversity-focused organizaton partly funded by the UK government, has announced that it is closing. Founded in 2015, the TTC aimed to bridge the diversity gap in tech by collaborating with industry leaders to foster a more inclusive environment. Despite significant achievements, shifting industry priorities and economic pressures have led to the difficult decision to dissolve the organization. The Tech Talent Charter When the TTC was launched, women held fewer than 15% of tech roles in the UK, and broader diversity data was scarce. Over
This year, on Juneteenth, angel investing group Untapped Investing announced its launch to support Black and underrepresented founders. Founded by Mica Eades Mayo, Attica Alexis Jacques, and Felicia Mayo, Untapped Investing aims to create lasting change through purpose-driven ventures. Empowering Underrepresented Founders By investing in Black and underrepresented founders, Untapped Investing aims to generate opportunities that lead to generational wealth and sustainable growth. This collective effort will reshape the venture capital landscape, ensuring that visionary founders, historically overlooked, receive the support they need to thrive, they wrote on LinkedIn. Untapped
At the Cannes Lions International Festival of Creativity, Will.i.am introduced an AI-generated host named Felicia from his SiriusXM show. Felicia: A Black Woman AI Felicia, an AI-generated Black woman host, debuted at the Cannes Lions Festival in France, during a conversation with Kim Last of The Wall Street Journal. Addressing the audience, she stressed the importance of representation and empowerment in technology. “AI is more than just cool tech. It’s a new frontier where every voice must be heard,” Felicia said, according to AfroTech. “We’re here to make it clear
Sam Bankman-Fried, the co-founder and former CEO of the failed crypto exchange FTX, is facing allegations of funding a group with racist ties. As first reported by The Guardian, FTX trustees allege that payments to the group were made with misappropriated funds. FTX and Lightcone FTX trustees allege that Sam Bankman-Fried and other company insiders used nearly $5 million of misappropriated funds to help a nonprofit called Lightcone Infrastructure purchase the historic Rose Garden Inn hotel. The property, now named the Lighthaven Campus, hosts conferences and workshops on the “Tescreal”
A growing trend among America’s largest corporations reveals a shift in how diversity, equity, and inclusion (DEI) metrics influence executive compensation. According to a review of approximately 1,200 companies by Farient Advisors, the proportion of corporations using DEI metrics to set compensation has decreased from 33% to 28% in 2023. High-profile companies like Best Buy Co., Johnson & Johnson (J&J), and Lazard Inc. are among those that have de-emphasized or removed DEI from their executive pay criteria. Conservative Pressure and Corporate Response This shift is partly attributed to conservative activists
UC Davis Health’s new telehealth program aims to address disparities in postpartum care for Black patients and improve maternal outcomes. Bridging the Gap in Postpartum Care Black patients at UC Davis Health and across the nation face significant disparities in postpartum care. These inequities, particularly during the six-week period after birth, contribute to an increased risk of complications and even death for Black people who give birth. To tackle this issue, UC Davis Health has launched a new telehealth program aimed at reducing these disparities and improving maternal outcomes for
Black executives believe that their companies have maintained a strong commitment to Diversity, Equity, and Inclusion (DEI) despite anti-DEI pressure, a survey by The Executive Leadership Council (ELC) has found. The ELC, which aims to increase Black representation in C-Suites and corporate boards, surveyed 180 top Black executives across various sectors. The results showed a strong and resilient commitment among Black executives to DEI in corporate America. DEI Is Linked To Job Satisfaction Despite today’s landscape with anti-DEI, nearly 3 in 4 (72%) Black executives feel their companies’ commitment to
