The NAACP has announced the launch of NAACP Capital, a new fund of funds aimed at empowering fund managers and startups focused on closing gaps facing communities of color. Developed in collaboration with Kapor Capital, Kapor Center, and nine venture fund managers, the fund seeks to raise $200 million to reshape the innovation and investment landscape. Driving Impact Through Inclusive Investing The initiative is part of the #KeepAdvancing campaign, a modernized approach to civic engagement aimed at building a more inclusive economy. “Investment is the backbone of impact, and impact
On the Oct. 18 premiere of Shark Tank’s 16th season, Destin George Bell, 26, pitched his gamified fitness app, Card.io, securing a $150,000 investment from FUBU founder Daymond John and venture capitalist Rashaun Williams. The app, which launched in 2022, combines fitness tracking with a social, team-based game experience, transforming outdoor workouts into competitive turf battles. Card.io has already attracted a following of over 25,000 users across 70 countries. Bringing Gamified Fitness to a Global Audience Inspired by his struggle to stay motivated during the pandemic, Bell created Card.io to
Dean Forbes, CEO of software company Forterro, has claimed the top spot on the UK’s Powerlist 2025, recognizing him as the most influential Black individual in Britain. Known for his rise from homelessness to the helm of a €2 billion software company, Forbes’ journey has been seen as one of remarkable perseverance, entrepreneurial spirit, and philanthropy. Transforming Challenges into Career Milestones Forbes born in southeast London in 1978, recalls a challenging upbringing with financial hardships and a mother battling muscular dystrophy. As a teenager, he navigated periods of homelessness but maintained
Four-time GRAMMY® Award-winning producer Timbaland has joined Suno, a leading AI music creation platform, as a strategic advisor. This collaboration comes after months of Timbaland actively using Suno. Love Again Remix Contest To mark the beginning of this partnership, Timbaland previewed his latest single, “Love Again,” exclusively on Suno, inviting artists from around the world to participate in a remix contest. The contest, launching 24 hours after the announcement, will offer over $100,000 in prizes, with Timbaland himself providing feedback on submissions. The top two remixes will then be released on major streaming platforms,
Issa Rae has announced a new collaboration between ColorCreative, her management company, and the streaming platform Tubi. Together, they’ve launched “Stubios,” an initiative aimed at supporting up-and-coming creators by providing a direct path into the entertainment industry. This partnership offers five creative teams the chance to develop their debut projects, which will premiere on Tubi, with full funding provided by the platform. A Platform for Emerging Talent ColorCreative, co-founded by Issa Rae and led by CEO Talitha Watkins, is committed to amplifying underrepresented voices, according to their website. Through the
SoLo Funds, a Los Angeles-based fintech startup, is facing a class action lawsuit filed on October 16, accusing the company of “unlawful and deceptive” lending practices. As first reported by Bloomberg, the lawsuit alleges that SoLo misled users by disguising hidden fees as “tips” to lenders and “donations” to the company. While these fees are technically optional, the suit claims they are difficult to avoid, making loans more expensive than advertised. Deceptive Lending Practices Alleged in Lawsuit SoLo Funds allows users to request small loans, up to $575, which are
Forbes’ real-time billionaire rankings, these are the wealthiest Black individuals globally. Their investments span various industries, including telecommunications, technology, cement, media, and oil. While they have gained significant wealth, these billionaires also hold influence in sectors that are critical to economic growth, particularly in Africa and the diaspora. Here’s a roundup the world’s richest Black people as of October 2024. Read: The Top 10 Richest Black People In The World 2025 David Steward Net Worth: $11.4 billion Country: USA Industry: Information TechnologyDavid Steward co-founded World Wide Technology (WWT), a provider
Octavia Carbon, a Kenyan startup in Direct Air Carbon Capture (DACC) technology, has raised $3.9 million in seed funding. This funding, co-led by Lateral Frontiers and E4E Africa, will allow the startup to scale its efforts to remove carbon dioxide from the atmosphere, aiding the global fight against climate change. Pioneering Carbon Capture Technology in Africa Founded in 2022 by Martin Freimüller, Duncan Kariuki, and Mike Bwondera, Octavia Carbon is Kenya’s first DACC company. Its machines capture carbon dioxide (CO2) from the air and store it underground to help reduce
Black Girl Vitamins (BGV) has announced a $100,000 scholarship fund dedicated to Black women pursuing medical careers at Historically Black Colleges and Universities (HBCUs). This two-year initiative, part of their broader mission to support health equity, aims to increase representation in healthcare by easing the financial burden for aspiring medical professionals. Investing in Future Healthcare Leaders BGV’s scholarship program aligns with their mission to create a new generation of Black women in medicine, nursing, pharmacy, and public health. The scholarship is open to Black women enrolled in accredited medical programs
HSBC Holdings Plc has appointed Pam Kaur as its first female Chief Financial Officer (CFO), marking a historic shift for the global bank, which was founded over 150 years ago. Kaur, who has been with HSBC since 2013, will step into the role amid sweeping restructures under the bank’s newly appointed CEO and a challenging global financial climate. A Long Career in Risk and Compliance Pam Kaur, formerly HSBC’s chief risk and compliance officer, brings nearly 40 years of global finance expertise, specializing in risk management, compliance, and auditing. She
