Founders Factory Africa (FFA) has raised $114 million in funding to scale its model to better serve founders across the African tech ecosystem. Founders Factory Africa Founders Factory Africa, founded in 2018 by Roo Rogers, Alina Truhina and Sam Sturm, is an African early-stage investor supporting founders across the continent. With a portfolio of over 55 ventures across 11 countries in East, West, North and Southern Africa, they combine capital investment with support for entrepreneurs. They invest up to $250,000 in ventures at idea, pre-Seed and Seed stage for ventures
Black-owned venture capital firm, MaC Venture Capital, has hired finance and operations veteran Jennifer Randle as its first Chief Operating Officer (COO). MaC Venture Capital MaC was launched in 2019 by four founding partners: former Washington D.C. mayor Adrian Fenty, former talent agent Charles D. King, VC veteran Marlon Nichols, and investor Michael Planak. The firm had its first $100 million fund in 2021 in seed-stage funding and a second $203 million in 2022. The team uses their skills and knowledge to support the next generation of tech companies, focusing on reshaping the culture
ISACA and Blacks In Technology (BIT) are collaborating to prepare underserved communities in Atlanta for emerging tech careers, through ISACA’s Digital Trust-Workforce Inclusion Program (DT-WIP) and One In Tech Foundation. ISACA And Blacks In Technology ISACA is a global professional association and learning organization of nearly 170,000 professionals in 188 countries. Their members work in digital trust fields such as information security, governance, assurance, risk, privacy and quality. Through its foundation, One In Tech, ISACA supports IT education and career pathways for underresourced and underrepresented populations. “Enterprises across all industries need qualified professionals
Endeavor Miami is partnering with venture capital firm DeepWork Capital to funnel more capital into underrepresented early-stage founders. Endeavor Miami and DeepWork Capital Endeavor Miami was founded in 2013, with the support of the John S. and James L. Knight Foundation, as the first U.S. affiliate of Endeavor, an organization supporting entrepreneurs worldwide. According to Biz Journals, Miami’s Endeavor entrepreneurs generated over $700 million in revenues and employed over 5,000 individuals in 2021. Now the organization has partnered with DeepWork Capital, an Orlando-based early-stage venture capital firm that primarily invests in tech and
This article was first published by Cheryl Lyn here. Many African American small business owners face challenges with funding due to post-pandemic hardship, inflation, and fierce competition. Yet black-owned businesses have been integral to the U.S. economy in the past and present. To help you out, we’ve rounded up a list of 20 places where you can seek grants and funding for your business in 2023. Backstage Capital What’s cool about Backstage Capital is that they intentionally back underrepresented founders, particularly those of color, female genders, and LGBTQ orientations. Founded in 2015, this private firm
Libbie Health, an AI-powered app that gives women of color tools to reduce anxiety, was announced the winner of this year’s Make It in Brooklyn pitch contest. Libbie Health The app was founded by behavioral health coach Colette Ellis in 2022 to address racial and cultural disparities in mental health care. It also aims to create positive health outcomes for women, BIPOC, LGBTQ+ and marginalized leaders. Ellis was trained in Emotional-Freedom Technique (EFT) tapping in 2013 and began building it into her client work. “If you’ve ever been in a situation where you smelled
Black-owned web3 social marketplace, Calaxy has launched its app, helping creators to monetize their content and connect with their fans. Helping Creators to Monetize Tech entrepreneur Solo Ceesay and NBA player Spencer Dinwiddie founded Calaxy in 2021 to build a new infrastructure allowing content creators ownership and equitable value exchange compared to the current social media landscape. It’s described as reimagining how people use social media, empowering more meaningful and fulfilling fan experiences. Despite the creator economy being one of the fastest-growing sectors of the internet, creators still need help to monetize with the rise of
Today, Robert F. Smith announced that Vista Equity Partners, his market investment firm, has surpassed $100 billion in assets under management (AUM)—the total market value of all its investments. Vista Equity Partners Smith is the wealthiest Black man in the United States, surpassing Oprah Winfrey in 2018 as the richest Black American. He founded Vista Equity Partners in 2000 to invest in businesses that use tech to promote economic equity, ecological responsibility, and diversity and inclusion. He recently announced plans to sell Apptio – a company that helps connect technology investments to business
Acclaimed filmmaker and founder of Array Crew, Ava DuVernay, is collaborating with Oscar-winning filmmakers Brian Grazer and Ron Howard, founders of the Impact network, to create the “largest hiring network” for the entertainment industry. Array Crew In 2021, DuVernay founded Array Crew, a searchable personnel database designed to connect below-the-line crew professionals. The database focuses on amplifying women, people of color and those from underrepresented backgrounds, connecting them with producers, studio executives and department heads. The database has gained the support of major studios and streamers, including Warner Bros.Discovery, Amazon Studios, Apple TV+
Nonprofit organization Blacks In Technology Foundation (BIT) has announced a strategic partnership with RoadPitch, the most extensive multi-city pitch tour to help Black tech founders to raise pre-seed and seed capital from investors. For over a decade, BIT has offered training, education, networking and mentorship opportunities to elevate Black professionals in the tech industry. The nonprofit aims to “stomp the divide,” influencing and effecting change in an industry that has historically not sought parity concerning Black workers. The Collaboration The collaboration will see RoadPitch become BIT’s official international pitch competition organizer. RoadPitch will
