John Hope Bryant, CEO of Bryant Ventures and Operation HOPE, has donated $1.8 million to support the entrepreneurial ambitions of 70 Albany State University (ASU) graduates. Each recipient will receive $25,000 and extensive business resources to launch their ventures. $1.8M Grant to Boost Black Entrepreneurship The selected graduates will receive financial backing and also a “special forces team” offering tools like free domain names, Shopify accounts, and access to legal and financial experts. ““They get a free domain name that they own, a free website that they own, a free
Players Health, founded by former athlete Tyrre Burks, has secured $60 million in Series C funding to expand its mission of ensuring safety in youth sports. Led by Bluestone Equity Partners, the funding round also included Mosaic General Partners, RPM Ventures, SiriusPoint, and TriplePoint Capital, bringing the total raised to over $100 million. A Former Athlete’s Vision for Change Tyrre Burks founded Players Health to address the challenges he experienced as an athlete playing Division II football team while attending Winona State University, then in Europe and the Canadian Football
Penny Jar Capital, the early-stage investment firm backed by basketball star Stephen Curry, has filed paperwork with the SEC to raise a second fund, as first reported by TechCrunch. The filing for Fund II doesn’t list a specific target amount and also submitted a separate filing for a related entity called Fund II Collective. Both filings were made in October, signaling Penny Jar’s commitment to expanding its portfolio. As Penny Jar’s anchor investor and special advisor, Curry helps the firm source investment opportunities and works behind-the-scenes to drive impact for the portfolio
Marcy Venture Partners, co-founded by Jay-Z, has merged with Pendulum Holdings’ investment arm, Pendulum Opportunities, to establish a new firm: MarcyPen Capital Partners. The merger brings together two prominent Black-owned investment firms, combining resources to oversee a total of $900 million in assets, a spokesperson confirmed to TechCrunch. Two Black-owned investment firms Marcy Venture Partners was founded in 2018 by Jay-Z, Jay Brown (Roc Nation co-founder), and venture capitalist Larry Marcus. Known for backing brands like Rihanna’s Savage x Fenty, Partake Foods, and web3 startup Spatial Labs, the firm has
Carlos Watson, the founder of Ozy Media, was sentenced on Monday to 116 months in prison for defrauding investors and misrepresenting the company’s finances. The decision comes after Watson’s conviction in July for orchestrating a fraudulent scheme that included falsifying contracts and fabricating deals to gain investor trust, according to Reuters. Fraudulent Deals And Fabricated Contracts The sentencing, delivered by US District Judge Eric Komitee in Brooklyn federal court, marks the culmination of a high-profile case. Prosecutors accused Watson and his now-defunct media startup of inflating revenue projections and audience
Nigerian fintech startup Billboxx has raised $1.6 million in a pre-seed funding round, aiming to empower African small and medium-sized enterprises (SMEs) with cash flow management solutions. The funding, a combination of debt and equity, was led by Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures. Addressing SME Cash Flow Issues Founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx offers invoice financing and payment processing services to help SMEs combat cash flow challenges caused by delayed payments from enterprise clients. The platform facilitates upfront payments for
Grammy-winning artist Usher is giving back to the Atlanta community with the launch of a new initiative aimed at empowering young creatives, as first reported by Billboard. Usher Opens Content Studio In Atlanta On December 9, the R&B icon officially opened the Usher Raymond IV Spark Lab, a content studio located at the Whitehead Boys & Girls Club in Atlanta. The studio launch featured a ribbon-cutting ceremony and marks the start of a broader program to create creativity and innovation among local youth. The studio offers 14-to 24-year-olds hands-on experience
BlackCEO, a training platform for Black entrepreneurs, has announced the launch of its “Extreme Business Makeover” program. This initiative is designed to accelerate the growth of Black-owned businesses, tackling challenges that often hinder scaling to multi-million-dollar revenues. A Revolutionary Approach to Business Transformation The three-day program offers a hands-on transformation for selected Black entrepreneurs. BlackCEO’s team implements business strategies during the program including brand development, marketing automation, AI integration, and public relations execution. Participants leave the program with fully operational business systems in place. “Traditional business programs tell you what
Zimi, a startup simplifying cross-border commerce for international merchants, has raised $2 million in seed funding led by Fearless Fund, with participation from Y Combinator and other investors. Co-founded by Audrey Djiya and Peter Nsaka, Zimi’s platform tackles challenges like shipping, compliance, and payments to streamline global trade. Tackling Challenges in Global Shipping International merchants often face high shipping costs, long delivery times, and complex regulatory requirements. Zimi addresses these pain points by providing US-based localized fulfillment centers, cutting down costs and delivery times while ensuring seamless handling of taxes,
Moove, the Nigerian mobility solutions pioneer, has announced a partnership with Waymo, Alphabet’s autonomous vehicle division. This marks the first time an African startup has collaborated with a global leader in self-driving technology to manage fully autonomous fleets in the United States. Launching Autonomous Fleets in Phoenix and Miami The partnership will see Moove overseeing the fleet operations, charging infrastructure, and facilities for Waymo’s all-electric autonomous vehicles (AVs), starting in Phoenix in 2025 and expanding to Miami in 2026. Waymo will continue to provide its Waymo Driver technology through the
