MaC Venture Capital, a venture capital firm known for its focus on seed-stage investments, has successfully raised $150 million for its third fund, as first reported by Fortune. This latest fundraising round brings the firm’s total assets under management to $600 million, a remarkable achievement for the five-year-old firm founded by Marlon Nichols, Adrian Fenty, and Mike Palank. Strategic Growth and Investment Focus The infusion of $150 million allows MaC to increase its initial investment size to $2-3 million per startup, up from its previous average of $1.5 million in
African venture capital firm Janngo Capital has closed its second fund at €73 million (approximately $78 million), surpassing its original €60 million target by 20%. Janngo Capital states that fund now positions the venture capital firm as the largest accelerating gender equality in Africa. Investment Focus on Gender Equality and Diverse Sectors Janngo Capital positions itself as a “gender-equal” investor, with 56% of its portfolio companies founded or led by women. Notable women-led investments include the Nigerian B2B platform Sabi and expense management company Expensya. According to Janngo, its investment
AI-enhanced search engines from Google, Microsoft, and Perplexity have been surfacing debunked and racist research claiming genetic superiority of white people over other racial groups, according to Wired. This trend, revealed through investigative work by Hope Not Hate, a UK-based anti-racism organization, has added to concerns about racial bias and radicalization in AI-powered search. AI Search Results Show Discredited Research Patrik Hermansson, a researcher with anti-racism group Hope Not Hate, was investigating the resurgence of scientific racism when he found that AI-driven search engines often promote discredited “race science.” When
Kendall Hamilton, a highly ranked Rocket League player, and his mother, Dr. Gigi, are leading an initiative that has supported young Black gamers in securing over $150,000 in Name, Image, and Likeness (NIL) deals. Together, they founded Game Changer Academy, an organization dedicated to helping young Black gamers use their skills for financial and professional growth. Game Changer Academy: Turning Gaming Skills Into Opportunities Game Changer Academy emerged from Kendall Hamilton’s own journey in competitive gaming according to a press release. Initially, his mother, Dr. Gigi—a licensed psychotherapist and organizational
Facing rising scrutiny and backlash, more than half of companies are changing how they present their diversity, equity, and inclusion (DEI) initiatives, according to recent data from the Conference Board. A survey of over 60 executives revealed that 50% have adjusted DEI terminology to reduce an emphasis on racial diversity, with 20% more considering similar changes. Notably, “equity” is frequently being omitted as it’s perceived as the most controversial term. A Response to Legal and Social Pressures This shift follows increased pressure from conservative activist groups and legal challenges. The
This week on Techish, Michael and TechCrunch’s Dominic-Madori dive into how new technologies are affecting privacy, Apple’s take on AI limits, and new media’s role in politics with elections around the corner. They also chat about how consumer habits are shaking up companies like Starbucks and wrap up with a look at the reparations debate. Doxing Strangers With Meta’s Smart Glasses (00:00) Apple Dunks on Large Language Models (06:50) The Podcast Election: How New Media Is Shaping the Trump-Harris Election (11:05) Starbucks is struggling (23:35) UK Prime Minister Says No
Earthbond, a Nigerian startup that helps small and medium-sized businesses (SMBs) go solar, has raised $200,000 in pre-seed funding from Madica, an Africa-focused investment firm. The funding will help Earthbond expand its solar services to more businesses, offering a cleaner and more affordable energy option as Nigeria faces rising fuel prices. Making Solar Power More Accessible Founded in 2023 by Chidalu Onyenso, Earthbond connects businesses with solar power providers, including installers and loan options, to make adopting solar energy easier and more affordable. Onyenso, a Harvard MBA and experienced product
The Local Initiatives Support Corporation (LISC) announced that the Entrepreneurs of Color Fund (EOCF) has surpassed its $500 million goal in small business lending, more than two years ahead of schedule. With this achievement, LISC is doubling its ambition, setting a new benchmark of $1 billion in financing to support underserved businesses and communities across the US. Expanding Access to Capital for Minority Entrepreneurs The EOCF addresses capital gaps faced by minority-owned businesses, which often struggle to secure funding. Black and Latino entrepreneurs, in particular, are denied loans at twice
The NAACP has announced the launch of NAACP Capital, a new fund of funds aimed at empowering fund managers and startups focused on closing gaps facing communities of color. Developed in collaboration with Kapor Capital, Kapor Center, and nine venture fund managers, the fund seeks to raise $200 million to reshape the innovation and investment landscape. Driving Impact Through Inclusive Investing The initiative is part of the #KeepAdvancing campaign, a modernized approach to civic engagement aimed at building a more inclusive economy. “Investment is the backbone of impact, and impact
On the Oct. 18 premiere of Shark Tank’s 16th season, Destin George Bell, 26, pitched his gamified fitness app, Card.io, securing a $150,000 investment from FUBU founder Daymond John and venture capitalist Rashaun Williams. The app, which launched in 2022, combines fitness tracking with a social, team-based game experience, transforming outdoor workouts into competitive turf battles. Card.io has already attracted a following of over 25,000 users across 70 countries. Bringing Gamified Fitness to a Global Audience Inspired by his struggle to stay motivated during the pandemic, Bell created Card.io to
