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, will leverage AI to improve efficiency and performance across the firm and its portfolio companies. “You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as
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
Nearly 60% of Black small- and mid-sized business (SMB) owners on TikTok say that the app is critical to their business’ existence, a new Oxford Economics report has found. TikTok’s Value For Small businesses Oxford Economics, in collaboration with TikTok, sought to understand the app’s economic value for local communities across the US. It surveyed 1,050 SMBs and 7,500 users in 2023 to gauge interactions and benefits derived from the app. Small and medium businesses generated $14.7 billion in revenues and supported 224,000 jobs on TikTok supported 224,000 jobs, the
Serena Williams, a legendary tennis champion, is making her mark in the tech investment world with her venture capital fund, Serena Ventures. Serena Ventures Following her retirement in September 2022, Williams has focused on the investment sector. With over 14 years of investment experience, she established Serena Ventures in 2014, a venture capital fund to empower women and underrepresented founders. This strategic move was born from Williams’ observation of the glaring lack of venture capital flowing toward specific demographics. As highlighted on its website, her venture proudly supports a diverse array of
