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Several Black celebrities are facing lawsuits and investigations for promoting FTX, the crypto exchange that collapsed earlier this month, costing US investors $11 billion in damages. A Texas regular is investigating Steph Curry, among others, over payments received to promote FTX, as well as any disclosures made to determine whether any unlawful practices took place. “We are taking a close look at them,” Texas State Securities Board’s Joe Rotunda said in an interview with Bloomberg News. Rotunda emphasized that the celebrities under investigation “aren’t the most immediate priority [but] they’re

In a recent Twitter thread, Brandon Bryant, partner at the early-stage investment firm, Harlem Capital, broke down the steps every startup should know about VC fund returns. Venture capitalists (VCs) buy a stake in a founder’s idea, investing in their company’s balance sheet and infrastructure, before exiting. What VCs are aiming for are sufficient returns at an acceptable level of risk. This is because they, too, have investors whose money they need to multiply. Why should founders care about this? Bryant explains that by running the math, founders can understand

Black-owned real estate tech company, REZI, has secured $100 million in debt financing from Stratos Credit.  REZI’s $100M Investment   The announcement comes at a time of rapid growth for the platform, which has continuously shaken the status quo. The company, founded in 2016 by Sean Mitchell, has shaken the real estate space by creating space for the next generation of renters. The additional funding will go towards helping the company expand its services to more property owners and new markets.  “Stratos has been a core strategic partner of REZI since 2017,” said

Invesco QQQ’s startup pitch competition is back; this time, it’s even bigger than before. The competition has returned for its second year in partnership with MaC Venture Capital and Concrete Rose Capital.  Invesco’s QQQ Legacy Startup Pitch Competition Invesco QQQ, an exchange-traded investment firm based near Chicago, first launched the Legacy Classic startup pitch competition last year. Initially, the competition was only open to Black founders from HBCUs. However, according to AfroTech, the 2023 competition is open to all Black-founded seed-stage companies with less than $3 million. Since the news was announced,

Tech platform Mission 41K has partnered with former NFL player Emil Ekiyor to bridge the racial gap within tech.  What Is Launch Mission 41K?  Mission 41K is a movement designed to address the difficulty the tech industry faces today with finding and retaining tech talent. By prioritizing a skills-based hiring process, more people will be able to break into the sector through inclusive pathways.  The organization aims to provide a variety of entry points into the industry so people with ongoing apprenticeships and internships can still excel in a competitive

Despite making moves in the investment world, Kevin Hart has made it clear that he has not taken his eye off entertainment. After investing $500,000 in Black Sands Entertainment earlier this year, Kevin Hart’s Hartbeat Productions has announced it is working with the Black-owned comic house to adapt its “Black Sands” comic series into an animated film and television series. The move has been described as “one of the most significant moments in Black entertainment history” and will see Hartbeat provide Black Sands Entertainment with strategic advisory services as part

The East Los Angeles Community Union (TELACU) and Southern California Gas Company (SoCalGas) have announced $50,000 in scholarships for 14 first-generation Latino students pursuing careers in science, technology, engineering, and math (STEM). According to research by the Pew Centre, Hispanic and Latino workers make up 17% of the workforce but only 8% of people working in STEM. TELACU and SoCalGas’ collaboration couldn’t have come at a better time. The companies have partnered on initiatives to address social inequality and help students navigate the education system over the last three decades.

Founder and CEO of Resilia, Severtri Wilson, is the definition of #BlackGirlMagic. Nearly two years after raising $8 million in a Series A funding round, Wilson has made history again for making the largest raise ever for a Black female-founded tech company, according to AfroTech.  Who is Severtri Wilson?  Severtri Wilson is the founder of the SaaS platform, Resilia. The entrepreneur has been described as “different from your average tech company founder” as a Black woman with no coding experience and no co-founder.   A year after earning her master’s degree from

The latest figures from Crunchbase have revealed that Black founders raised just $187 million in the third quarter of this year, considerably less than the $350 million WeWork’s Adam Neumann raised for his latest venture. TechCrunch reports that this quarter’s figures mark a significant and continued decline in capital for Black-owned businesses. In total, Black founders have raised just over $2 billion in venture capital funding this year – although this may seem like a lot – it’s a massive decrease from the record-breaking $4.72 billion raised in 2021.  Lack of

Venture capital (VC) investment in African startups has seen a 33% increase compared to this time last year, according to gathered by The Big Deal. This follows similar reports of funding for African startups hitting new records in the first half of 2022. So far this year, more than 800 investors have contributed to at least one $100K+ startup deals on the continent.  Investors have also been far more active than in previous years. For example, 250 firms made at least two investments (45% more than in 2021), and 60 partook

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