Gran Coramino Tequila, the premium tequila brand co-founded by Kevin Hart and Juan Domingo Beckmann, has disbursed over $1 million in grants to Black and Latine entrepreneurs across the United States to date. The Coramino Fund Since its inception in 2022, Gran Coramino has dedicated a portion of its sales to the betterment of underrepresented business owners, committing $1 from every bottle sold to this cause. The Coramino Fund, established in partnership with the Local Initiatives Support Corporation (LISC), has now dispersed over $1 million in grants. This funding has reached over 100
MyFiLi is a new AI-powered edtech platform designed to transform how families, schools, and nonprofits engage with financial literacy. The Urgent Need for Financial Literacy Currently, consumer credit card debt in the U.S. has hit an all-time high of $1.79 trillion, and savings account balances average just $4,521. MyFiLi.com addresses this gap by providing tools and knowledge that help users navigate the complex nature of financial management. According to BlackNews, Founder and CEO Joseph Green‘s mission is to empower everyone to develop a healthy relationship with money. “By making financial literacy education accessible,
Primary Venture Partners has partnered with over 25 leading New York-based venture firms and startups to introduce the Factor Fellowship. This program will tackle the diversity, equity and inclusion (DEI) challenges head-on by connecting the city’s VC-backed startups with top talent from underrepresented groups. Addressing Diversity in Venture Capital and Startups The data on diversity within the venture capital and startup landscape shows that only about 13% of venture capital decision-makers are women. Funding for Black founders also declined in 2023, failing to reach the $1 billion mark for the first time since 2016.
Robert F. Smith’s Vista Equity Partners has raised over $20 billion for its latest fund, making it the largest in its history. This new fund, known as the eighth flagship fund, passes the previous record of $17 billion raised in 2019. Embracing AI for Strategic Growth Vista Equity Partners, known for its investments in technology companies, is focusing on AI with its new fund. “You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as a pivotal component of our value creation
Parham Aarabi, a University of Toronto researcher, has developed an AI tool, named PRE, that could change how e-commerce sites cater to users with color vision deficiencies. AI-Powered Solutions for Improved Web Navigation “Around 8% to 10% of the population has a type of color-blindness,” said Aarabi according to Texh Xplore. “I wanted to see how this might impact web navigation.” Aarabi’s AI model simulates the browsing behaviors of virtual users, tracking interactions like page pauses, cart additions, and responses to discounts. The tool’s insights reveal that while colorful images typically attract users, those with color blindness respond differently, favoring monochrome imagery. By
TLcom Capital, a venture capital firm that partners with African entrepreneurs, has successfully closed its second fund, TIDE Africa Fund II, reaching $154 million. TLcom Capital From fintech to healthcare, TLcom has remained focused on seed to Series A investments, supporting transformative businesses like Andela and FairMoney through multiple funding rounds. With a majority-female leadership team, the firm not only champions gender balance but also backs initiatives like FirstCheck Africa to support women-led startups. TLcom’s approach involves partnering with entrepreneurs from the outset, aiming to build ventures that can deliver substantial returns. TIDE Africa Fund
Diagon, a new startup founded by former Tesla supply chain expert Will Drewery, aims to revolutionize equipment procurement for small businesses using technology and industry insights. Drewery learned a lot about buying high-tech equipment while working for Tesla, a company famous for its innovative electric cars. After years of handling big purchases for Tesla factories, Drewery decided to use his skills to help smaller companies through his new venture, Diagon. Co-founded with Shri Muthu, a former engineering VP at Snackpass, Diagon aims to share Drewery’s insider knowledge to help businesses
Tangent, a technology platform founded by former LinkedIn employee Gary Izunwa and Joe Adams, has secured $1.1 million in funding and officially launched out of beta. Tangent, an employee referral platform aims to make referrals accessible to everyone by increasing tech career opportunities for those from lower socioeconomic backgrounds. A Vision For Inclusive Tech Tangent’s approach centers on starting with tech sales roles, engaging companies like Revolut, Stripe, and Amazon to support the transition of talent from diverse backgrounds into the tech ecosystem. This strategy aligns with the broader vision of Tangent—to democratize access to tech careers and create
The Folklore, a platform known for connecting global consumers with African brands and diasporic fashion, has secured a substantial $3.4 million seed funding. This round was spearheaded by Benchstrength Ventures, with contributions from Techstars, Black Tech Nation Ventures, and Slauson and Co. Connecting brands with Major Retailers In 2022, Folklore underwent a transformation. Originally a shopping platform showcasing primarly African brands, it now aims to enhance how emerging brands integrate into the retail landscape. “[Brands] would come to me for advice on how to expand their footprint, how to get a loan or how
Zuri, a Pan-African beauty startup, has achieved its first institutional tech investment from Launch Africa Ventures. Zuri’s Journey So Far Founded in 2016 by Gisela Van Houcke, Zuri has evolved from Van Houcke selling products from her car to a tech-driven powerhouse. The startup distributes beauty products such as hair extensions and cosmetics while aiming to empower Black women entrepreneurs and customers. Zuri offers a wide range of culturally relevant beauty products distributed through a hybrid model of physical salons, e-commerce, and social channels. The company has also developed a software platform
