Instagram has partnered with Brooklyn Museum and writer Antwaun Sargent to debut this year’s #BlackVisionaries program. The initiative, designed to help invest in and support Black talent, will include a grant of $650,000. The support program, co-founded by the social media giant, writer Antwaun Sargent and the Brooklyn Museum in 2021, is designed to help uplift and champion underrepresented voices within the creative industry. Last year, five Black designers and Black-led small design businesses were awarded $205,000 in grants last year. The funding allowed each participant to pursue their biggest
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
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
