Emma Grede recently announced on her book tour why she didn’t invest in Diarrha N’Diaye’s company, Ami Colé. On the “She’s So Lucky” podcast with host Les Alfred, Grede shared that she doesn’t back first-time founders unless she sees something “extraordinary” about both the person and the company, explaining she didn’t see that with Ami Colé. Emma Grede hiring Diarrha N’Diaya at SKIMS Whilst Grede did not think Ami Colé was worth supporting, she evidently thought she was worth hiring. After Alicia Scott of Range Beauty introduced N’Diaye to Grede,
Chris Gray, founder of the Black-owned scholarship app Scholly, is suing its acquirer, Sallie Mae, alleging that it sold data collected on the app, as reported by TechCrunch. Scholly, which allows Black students to easily search for scholarships, was acquired by Saille Mae in 2023. However, Gray is now alleging that his acquirer sold data his app collected, including information on minors, without telling users. He is also suing the company for wrongful termination. Chris Gray’s lawsuit against Sallie Mae In the lawsuit, Gray alleges that Sallie Mae fired his
Social network platform Series has raised a $5.1 million in a pre-seed round, according to TechCrunch. The round included investors such as Venmo co-founder Iqram Magdon-Ismail, Pear VC, Reddit CEO Steve Huffman, and GPTZero founder Edward Tian. Founders Nathaneo Johnson and Sean Hargrow met at Yale after both joining the university’s Society for Aspiring Entrepreneurs. About Series Users on Series can request support from other network users, such as an entrepreneur seeking help writing a business plan. The request is made to an AI-powered agent, which Series calls the agent your “AI friend.”
This Married Couple Built a $38M Haircare Brand. And They Just Raised Capital while Keeping Control.
The Doux, a Black-owned hair care brand, has received a minority investment from VMG Partners, according to WWD. Maya Smith and Brian Smith launched the brand in 2011 as a salon in Germany, where Brian was stationed as a US Air Force veteran. “I opened a salon because at the time, there weren’t really any hair spaces overseas that really focused on curly hair. I started developing [the product line] in 2010, but we launched in 2012, and then when we came back to the States, our official mass launch was
Fresh Bourbon wins the appeal to have the right to say that they distilled the first Black-produced bourbon in Kentucky, at least for now, according to the Lexington Herald Leader. Black-owned Louisville-based Brough Brothers sued Fresh Bourbon’s marketing, alleging that the claim from Fresh Bourbon “to be the first Black-owned distillery in Kentucky” was false advertising because they didn’t have their own distillery at the time. The appeal Sean and Tia Edwards released a bourbon in 2017, distilled at Hartfield Distillery in 2018. The Kentucky General Assembly recognized the brand
BKR Capital, previously known as Black Innovation Capital, recently announced that its Fund II has closed CA$20 million (around $14.5 million), as reported by TechCrunch. The Fund II Managing partner Lise Birikundavyi told TechCrunch that the fund, which is close to reaching its CA$50 million target, will support “high-growth technology companies led by founders from the Black community, building solutions for the future of work, living, and global connectivity.” It will focus on backing companies in Canada, but will also consider supporting companies worldwide. Companies will receive $250,000 and $1.5 million
The event and ticketing platform Posh has raised $37 million in Series B funding, according to Fortune. The round was led by FirstMark Capital, with participation from Causeway Ventures, Goodwater Capital, Companyon Ventures, and Epic Ventures. New York University students Avante Price and Eli Taylor‑Lemire founded Posh in 2019 after experiencing the limitations of Eventbrite. Speaking to Fortune, Price said, “I was using Eventbrite and other products to manage events, and then realized that the technology components were missing a ton of the capabilities that I needed.” About Posh Price and Taylor-Lemire, both rooted
Farm Credit is accusing Uncle Nearest of fraud, which includes an attempt to conceal a $20 million loan from Jay-Z, as stated by the Lexington Herald Leader. Nearest Green Distillery and the flagship Uncle Nearest whiskey brand have been under the management of a receiver since September, after lender Farm Credit Mid-America claimed the Weavers defaulted on more than $108 million in loans. Farm Credit Mid-America claims that Fawn and Keith Weaver have “egregiously mischaracterized” a $20 million loan from Jay-Z’s venture capital firm, MarcyPen. Jay-Z loan to Uncle Nearest being questioned
Nigeria’s federal government launched the iDice Startup Bridge, a two-track program giving idea-stage founders grants of up to ₦10 million ($7,215) and equity investment of $100,000 for post-MVP startups, according to Techcabal. The initiative will be executed by the Bank of Industry, with financial support from the African Development Bank, the Agence Française de Développement, and the Islamic Development Bank. iDice will be part of the wider Investment in Digital and Creative Enterprises (iDICE) program, a federal initiative aligned with Nigeria’s digital economy agenda. “Founders Lab is a bridge that
Applications for the Morgan Stanley Inclusive & Sustainable Ventures 2026 cohort are open through March 31. Apply here. Morgan Stanley Inclusive & Sustainable Ventures (MSISV) provides early-stage innovators with access to capital and resources. During the five-month program, founders receive mentorship and networking with experienced industry leaders. The accelerator’s mission is to catalyze innovation and impact by supporting startups and nonprofits building a more inclusive and sustainable future. Meet the founders Miho Shoji, co-founder of Moodbit, developed autonomous AI agents that act as digital teammates and seamlessly integrate with enterprise
