Posts in Category

Investors

Copenhagen-based Unconventional Ventures has announced the second close of its €30 million fund ($32 million), dedicated to investing in diverse founding teams and founders. Unconventional Ventures According to Tech Funding News, Unconventional Ventures (UV) is the only European fund with a diversity impact at its heart. It is an impact-focused investment firm investing in early-stage startups led by underrepresented founders in Europe. Launched by Thea Messel and Nora Barvey in 2018, UV has a VC structure and invests across the Nordics in healthcare, women’s health, diversity tech, sustainable fashion, food

Black-led venture capital firm Growth Warrior Capital is launching Elevo, an AI-powered pitch deck generator to help founders secure funding for their startups. Investing in overlooked founders Elevo is the brainchild of Promise Phelon, the founder and managing partner of Growth Warrior Capital. An experienced entrepreneur, Phelon’s track record includes raising $100 million in capital, transforming companies, and successfully navigating exits and acquisitions. Phelon’s early-stage venture capital firm, invests in “dangerous” startups led by traditionally overlooked founders that have the potential to “fundamentally change the way we work, earn, and

Alitheia IDF is a $100 million private equity fund that aims to grow African SMEs through gender-balanced businesses. According to a report from Africa’s The Big Deal, female-led start-ups in Africa had raised 4% funding in 2022, while male-led ventures raised 96%. Therefore, 25 times less funding had been invested in female-led startups in 2022 than their male-led counterparts. Alitheia IDF aims to identify, invest in and grow businesses led by gender-diverse teams to achieve solid financial returns and social impact for African communities. Alitheia IDF The Alitheia IDF invests

Congresswoman Ayanna Pressley has called on the five largest banks in America, asking them to update their racial equity commitments following the murder of George Floyd in 2020. The March on Washington for Jobs and Freedom Anniversary Approaching the 60th Anniversary of the March on Washington for Jobs and Freedom, Representative Pressley, a House Financial Services Committee member, has reached out to the five largest American banks for updates. Held on August 28, 1963, in Washington, D.C., this pivotal march sought to champion African Americans’ civil and economic rights. Its

Zanifu, a Kenyan fintech company that helps millions of African businesses to access financial services, has raised $11.2 million in debt-equity funding in a pre-Series A round. Zanifu Founded by Steve Biko, the Zanifu platform allows small retailers and businesses in Sub-Saharan Africa to access inventory from their suppliers and pay later.  They aim to support micro-, small-, and medium-sized enterprises (MSMEs) by bringing their businesses online while providing them with working capital finance. Biko told TechCrunch that the platform targets businesses that need help accessing credit from formal financial institutions for

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

Fearless Fund has responded to the lawsuit filed by the American Alliance for Equal Rights (AAER) after it accused them of racial discrimination. What happened? Conservative group American Alliance for Equal Rights, founded by Edward Blum, brought a lawsuit against Fearless Fund, which supports women of color who own small businesses. The lawsuit accuses Fearless Fund of violating Section 1982 of the Civil Rights Act of 1886, which bars racial bias in private contracts, by opening its grant competition to Black women alone. Lawsuits brought by Blum and the conservative group led

Fearless Fund has announced it has received multi-million dollar follow-on investments from Bank of America, Costco, and Mastercard. Investing In WOC Founded in 2019 by Arian Simone, Keshia Knight Pulliam, and Ayana Parsons, Fearless Fund invests in pre-seed, seed level, and series A women of color founders building scalable and growth-aggressive companies. Their portfolio includes Bitsy’s, the clean food and beverage brand co-founded by Gabrielle Union, Melissa Butler’s cruelty-free beauty brand The Lip Bar, Pinky Cole’s Slutty Vegan, and Sevetri Wilson’s Resilia. Read: Resilia Closes $35M Series B, Largest Raise Ever For A

A new report by Dropbox DocSend has shed light on the funding divide in the tech industry, particularly regarding race and gender disparities among founders.  While 2021 witnessed record-breaking levels of VC funding and increased engagement with diversity, equity, and inclusion (DEI) initiatives, 2022 proved to be more challenging for historically underfunded founders.  Turning tides In 2021, VC funding for early-stage founders experienced a significant boost, with record-breaking funding levels. Historically underrepresented founders also experienced a surge of investor interest driven by DEI-related investment initiatives in response to the murder

Helium Health, a Lagos-headquartered healthtech startup, has secured $30 million in Series B funding in the second-largest series B round for any African health tech company. Digitizing Healthcare Across Africa Founded in 2016 by Tito Ovia, Adegoke Olubusi, and Dimeji Sofowora, Helium Health has been a pioneer in is revolutionizing Africa’s healthcare sector through technology, finance, and data.  The company’s suite of digital solutions includes electronic medical records, hospital management systems, insurance and billing software, and analytics tools. The company currently operates in eight countries (Nigeria, Ghana, Senegal, Liberia, Kenya,

1 2 3 18 Page 1 of 18