Pre-seed venture capital firm Symphonic Capital has announced the launch of its inaugural fund of $13.5 million to invest in early-stage companies. Symphonic Capital focuses on founders who are closing critical access gaps within healthcare and financial services.”That’s because we believe everyone should have access to reliable healthcare and financial freedom, regardless of their race, gender or ethnicity,” Founder Sydney Thomas and partner Shruti Shah said in a press statement. The fund is led by experienced pre-seed investors and operators and backed by leading institutions, such as Known, Candide, Illumen
Campus, an online community college, has announced a $46 million Series B investment, bringing its total amount raised to over $100 million. The community college offers students live classes with highly regarded professors who have backgrounds from colleges and universities such as Stanford, UCLA, and Howard. Additionally, students receive wraparound support such as on-demand tutoring and personal success coaching, as stated in a press release. Who founded Campus? Before there was Campus, there was Campuswire, an online learning software Tade Oyerinde founded in 2016. In 2018, Oyerinde conceived the idea for Campus
President Donald Trump has commuted the prison sentence of Carlos Watson, the founder and former CEO of Ozy Media. Watson was just hours away from reporting to a federal prison in California when he received word of the clemency, CNBC reports. Watson, 55, was sentenced to 116 months in prison following his conviction on multiple counts of fraud and identity theft related to his leadership of the now-defunct digital media company. Trump also commuted the sentence of one year of probation imposed on Ozy Media for the company’s conviction in
Vince Martin, Founder and CEO of Atlanta-based Upsides Network LLC, has announced the launch of his new platform, BlackShares. The platform aims to bring the Black community together for social and professional networking, as stated in a press release. The company is calling for a boycott of X, Threads, Bluesky, and LinkedIn and suggests switching to BlackShares to support a Black-owned platform instead. The platform will allow experts to be paid for their knowledge, encouraging wealth within the Black community. Putting money back into the community Black consumers’ collective economic
The Black Economic Alliance Entrepreneurs Fund LP, which is raising $50 million to support young startups, is over halfway towards its goal. As stated in a filing last week with the Securities and Exchange Commission, the fund has currently raised $28.5 million and is led by venture capitalist Melissa Bradley. The Washington Business Journal reported that she shared that the fund’s investment will focus on young companies that specialize in products or services in four key areas: financial inclusion, health and wellness, sustainable communities, and what she called “narrative change”—companies focused
In 2024, US startups with Black founders received just 0.4% of total funding, the lowest share in recent years and down more than two-thirds from just three years ago. According to Crunchbase data, overall startup funding increased to $314 billion last year, but only $730 million went to Black founders. Which Black startups received the most funding last year? Twelve picked up a $200 million Series C in September, led by Capricorn Investment Group, Pulse Fund, and TPG. The startup converts carbon dioxide into jet fuel and other practical products. The company also
CEO and co-founder Eric Collins of Impact X Capital Partners announced the final close of its latest fund. Illumen Capital, a BIPOC-led investment firm based in Oakland, California, and Basecamp Fund, a fund of funds investing in upcoming managers from London’s Phoenix Court, supported the fund, as stated by the Voice. This fund will help Impact X fulfill its commitment to tackling systemic barriers in venture capital by assisting underrepresented entrepreneurs in high-growth industries such as technology, healthcare, and targeted creative sectors. “This fund close is about more than capital—it’s
Entrepreneur and award-winning personality Tabitha Brown has become Clover’s first Chief Empowerment Officer. As a previous small business owner herself, this partnership highlights Brown’s dedication to supporting small businesses. “Small businesses are my passion. The equity in helping them is the joy you bring to someone’s household and community,” Brown said in a press release. “My goal is to always uplift and empower small businesses and encourage others to do the same in their communities. I’m overjoyed to work with Clover to do my part.” What is Clover? In the
Mastercard Foundation, an international nongovernmental organization, has ended its commitment to invest $100 million in 54 Collective, the most active investor in Africa. 54 Collective (formerly Founders Factory Africa) and Mastercard Foundation “will be pursuing different strategies moving forward, and the partnership will end on 30 April 2025,” the venture capital firm told Rest of World in an email. A setback for Africa’s most active investor On February 20, the leadership team of 54 Collective informed staff that the new changes would lead to layoffs as the firm would end
It’s difficult for Black female founders to get their foot in the door, especially when it comes to raising capital for their business. However, billionaire businessman Mark Cuban told ESSENCE that Black women shouldn’t necessarily be looking for funding. Instead, he believes they should take a different approach, one that he has personally followed in his own journey. Why should founders stop looking for funding? The Shark Tank investor spoke with ESSENCE at SXSW in Austin, Texas, ahead of his panel discussion on entrepreneurship with Tabitha Brown and entrepreneur Justin Fenchel.
