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The cryptocurrency market has drastically fallen over the years, with the market decreasing in value by more than $1 trillion. The recent downfalls have shaken the entire cryptocurrency market and resulted in many Black investors experiencing severe losses. One of the most popular cryptocurrencies, Bitcoin, fell below $20,000 for the first time in 2020 and has been steadily declining by more than 70%. Over the past seven months, its value has shrunk more than ever, consequently impacting millions of investors in the cryptocurrency market. According to the Financial Times, 25%

Black-founded startups recently saw record amounts of investment, with quarterly funding commitments nearing or even topping $1 billion. But according to new data from Crunchbase, venture capital funding has dropped significantly in the second quarter of 2022, down to just $324 million. So far in 2022, only 100 U.S. startups with a Black founder have received funding, with $100 million invested in seed rounds, $591 million in early-stage rounds, and approximately $876 million in later-stage rounds. Startups with at least one Black founder received 1.9% of deal counts and 1.2% of

The National Football League has announced its partnership with Ice Cube’s Contract With Black America Institute (CWBA) to support Black-owned businesses and increase diversity amongst NFL vendors. In addition, the partnership aims to boost the economic equity within Black communities by tackling the wealth gap and offering various opportunities in the financial, tech, and production sectors. The CWBA was launched in 2020 by rapper, actor, and filmmaker Ice Cube, alongside his business partner and entertainment lawyer, Jeff Kwatinetz, and works to address the systemic racism in the sports industry. In

Minority-owned early-stage cannabis fund, JourneyOne Ventures, has closed a $10 million fund to invest in businesses within the growing cannabis industry. The fund includes a range of investors like Paul Bown, founder of Bowen; Elizabeth Yin, general partner at Hustle Fund; Eric Manlunas, general partner at Wavemaker Partners and Fred Kang, a former partner at Andreessen Horowitz.  JourneyOne Ventures, founded in 2017 by Helene Servillon, is committed to building a community of genuinely talented entrepreneurs. The investment company, 100% women-led and minority-owned, invests in bold performers within the cannabis industry

Businessman and investor Baron Davis has announced his partnership with Hennessy for their “Never Stop Never Settle Society” campaign. The serial entrepreneur and former NBA player is set to join the team as a board member and hopes to use his experiences to help champion Black entrepreneurs.  The initiative, launched by the famous liquor brand in 2021, works to accelerate the growth of Black business owners across the US. The $1 million campaign, which Hennessy developed in partnership with talent development platform Marcus Graham Project, provides 20 Black entrepreneurs with

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

Black-owned food waste startup, Goodr, has closed $8 million in their latest round of financing. The funding round, led by venture capital firm, Precursor Ventures, included investment firm Collab Capital, Emerson Collective, Backstage Capital, Innovations for Impact, Kimbal, Telus Pollinator Fund, and a series of other private angel investors. This round brings Goodr’s total funding to $9.4 million. The Atlanta-based startup, founded by Jasmine Crowe in 2017, works to feed people who may experience food insecurity. The community first focused on helping feed a small number of people experiencing homelessness

London-based venture capital firm, Octopus Ventures, has launched its first £10 million ($12 million) pre-seed fund to support fresh startups in the fintech and health sectors. The firm, founded in 2007, works to fill the growing gap in early pre-seed funding for European founders.  Kirsten Connell and Maria Rotilu, veterans of Seedcamp and Uber, will lead the company’s first-ever investment fund. They will bring their extensive experience and knowledge of growing firms from the beginning to the job, enabling them to work closely with start-ups in their early years.  Octopus

Nigerian health tech startup, Healthtracka, has raised $1.5 million in its first official funding stage. The funding round, which was hosted by Africa-focused VC Ingressive Capital and US-based venture fund Hustle Fund, also included Angel investors, Flying Doctors, and Alumni Angel Alliance. Healthtracka, which was co-founded by Victor Amusan and Ifeoluwa Dare-Johnson in May 2021, works with lab partners to help detect early cancer patients. The organization has set up a website that allows people to book lab tests online and get their results back within 48 hours. “As a

Google and Visible Hands, a two-year-old venture capital (VC) firm dedicated to helping underrepresented founders, announced on Tuesday they would jointly conduct a program to help Latino entrepreneurs build new businesses. The program will make a considerable impact given that Latino founders accounted for only 3.9 percent of the venture capital invested in Boston between 2015 and August of 2020, according to a report by Crunchbase. While this percentage is higher than in California (1.2 percent) and New York (2.2 percent), it is still a long way from being representative. Yasmin Cruz

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