Black-owned venture capital firm, MaC, has raised $203 million for its second fund, building on the initial $110 million they secured in seed-stage funding last year. The firm focuses on investing in underrepresented founders of color. The highly resourceful team uses their skills and knowledge to support the next generation of tech companies, focusing on reshaping the culture and providing resources to underrepresented communities. 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
Jenna Wills, a former vice president at Afresh, filed a lawsuit against the company in April. Wills, who is Black, alleges she faced racial discrimination at the grocery-software startup. But an Afresh spokesperson said that Wills’ race was not taken into account in her termination. Here’s what happened. Wills joined Afresh in June 2021. Joining the startup was an easy decision for her because she was inspired by what they were building and their “incredible” mission to use artificial intelligence to help grocery stores order just the right amount of
Recently, Esusu, a firm that builds the accountability and systems you need to save more, joined the list of growing Black-led startups that have hit the $1 billion valuation mark and it got me thinking…how many of you know that there are quite a few unicorns that have been led by Black founders or CEOs? So here’s a small but mighty list that might act as a source of inspiration to you. Firstly – a “Unicorn” is a venture capital term used to describe firms that have achieved a valuation of more than
Precious Drews’ personal story is one of perseverance and passion. She’s the second youngest of eight children and first became an entrepreneur in middle school – making YouTube videos for her favorite artists in exchange for easy money. Although she didn’t consider herself an entrepreneur – anyone that hears her story can be quick to identify her as a natural-born leader. She was also the first in her family to go to college and later start her own small business – a natural skin care line that uses recycled coffee
Wale Ayeni, the regional head of venture capital investments for the IFC in Africa, has left the International Finance Corporation (IFC), it was reported on Wednesday. Wale Ayeni wrote: “After 5+ thrilling years at the IFC, last week was my last. I cannot but be grateful for the years filled with purpose, joy, learning and growth working alongside extremely passionate and mission-driven colleagues focused on changing the narrative in emerging and frontier markets, with action, and through technology. “The wealth, breadth & depth of the experience was only possible by
Microsoft said this week that it had fired some employees and terminated partnerships in relation to allegations made public Friday of bribery in its sales efforts in the Middle East in recent years. The disclosure came regarding allegations of bribery and corruption in Microsoft operations in the region made public by a former manager for the company named Yasser Elabd, who worked for the tech giant throughout the Middle East and Africa from 1998 to 2018, when he says he was fired. In an essay published Friday on Lioness, an outlet that documents
A lawsuit filed last week has accused Google of systemic racial bias against Black employees, saying the company steers them to lower-level jobs, pays them less, and denies them opportunities to advance because of their race. The complaint was filed in the federal court in San Jose, California, according to reports. The plaintiff, April Curley, said the Alphabet Inc unit subjected Black employees to a hostile work environment, including by often requiring they show identification or be questioned by security at its Mountain View, California, campus. Curley said Google had hired her in 2014
Briana Marbury, executive director of the Interledger Foundation has spoken candidly with POCIT for an in-depth interview. As one of the only Black women leading the major tech philanthropy, she is overseeing a $100 million foundation and the Grant for the Web fund that has already committed more than $10 million to projects around the world. Growing up in Detroit, she witnessed the lack of financial access that many people who were living below the poverty line endured, forcing them to use predatory check-cashing services and now she’s working directly
Ahead of international women’s day – Instagram announced that it will be introducing a special tag for professional accounts and influencers that ensures they receive credit for their content. The enhanced tagging feature lets Instagram users show additional information on “People Tags” on their posts. Beyond just a profile’s username, the tags will highlight the creators’ self-designated profile category (titles are chosen from Instagram’s list of categories, like “rapper” or “fashion stylist” or “photographer”) as well as their account’s full name or title. The information is shown when users tap
Taking a trip down memory lane has gotten Nas in a bit of trouble and he’s now facing a new lawsuit with none other than Hip-Hop photographer Al Pereira, who also went into a legal battle with Kyle and Kendall Jenner back in 2017. Pereira has reportedly filed over 450 copyright infringement lawsuits since 2015. After Nas posted a picture of himself, Tupac, and Redman from July 1993 to his Instagram, Pereira filed a lawsuit against him in February for sharing it without permission or licensing the work, according to
