Startup Noir NOLA is setting a new standard for empowering Black entrepreneurs and investors in New Orleans. This initiative, launched by Greater New Orleans Inc. (GNO Inc.), provides resources and opportunities to support the success of Black-led startups in a region brimming with potential. With access to networking events, educational sessions, and strategic mentorship, the program aims to address the systemic barriers that often hinder access to capital and connections. Closing the Funding Gap Despite the growth of venture capital, Black founders continue to receive only a fraction of total
LeapFrog Investments, a private equity firm with a focus on impact-driven investments, has closed its fourth fund, raising $1.15 billion to fuel financial services and healthcare in emerging markets. The milestone includes $808 million in primary commitments and $210 million allocated for co-investments. This fund aims to reach millions of underserved consumers in Africa and Asia with transformative services. Expanding the Reach of Impact Investing The Fund IV investor lineup includes leading global institutions like Temasek, Prudential Financial, and AIA, alongside development finance powerhouses such as the European Investment Bank
Google’s Black Founders Fund (BFF) has helped startups across Africa and Europe raise $379 million in funding and create over 6,000 jobs collectively. This marks a turning point for Black-led startups, which have historically faced limited access to capital and support, attracting less than 1% of global venture capital. Non-Dilutive Funding Accelerates Growth Established in 2020, the BFF addresses systemic racial inequities in venture capital. The program offers equity-free funding, mentorship, and resources tailored to Black entrepreneurs. So far, over 220 African startups have benefited, with their growth rates surpassing
Cleo Capital, an early-stage venture firm, has announced a cybersecurity accelerator program aimed at addressing the growing epidemic of online threats, as first announced by TechCrunch. The 12-week remote initiative seeks to support pre-seed and seed-stage companies worldwide, offering $250,000 in funding for a 7% equity stake. Applications are open until January 20, with the program starting on February 24. Tackling Cybercrime with Innovation Sarah Kunst, founder and managing partner of Cleo Capital, was inspired to create the program after witnessing the rising tide of fraud in industries like crypto,
At just 12 years old, Alyssa Awuah has become the youngest-ever winner at the PRECIOUS Awards, a platform celebrating the achievements of Black women and girls in the UK. Alyssa, the Co-Founder and “mini-CEO” of Frobelles—a dress-up game empowering kids to embrace afro hair—was awarded Young Entrepreneur of the Year at the event sponsored by Santander and supported by the Joseph Levy Foundation. Frobelles Game Champions Afro Hair Frobelles was born from Alyssa’s curiosity as a six-year-old, asking her mother, Yvonne Ottley, why none of her game characters resembled her
Three former Duolingo executives have secured $13 million in seed funding to launch a startup aimed at making college more accessible, as first reported by TechCrunch. The funding round, led by Khosla Ventures, also saw participation from Karman Ventures, Latitud Ventures, Lightspeed Ventures, and several angel investors. The funds will be directed toward hiring and product development for the initiative, which remains in stealth mode. A Mission Rooted in Personal Experience The team, which includes Jorge Mazal (CEO), Daniel Falabella (Chief Product Officer), and Gina Gotthilf (Chief Marketing Officer), is
Emmy-winning comedian and actor, Katt Williams, has purchased a 3-million-square-foot former military base in Alabama, with plans to transform it into a state-of-the-art movie studio. A Vision For A New Era In Black Filmmaking Williams confirmed the purchase in a recent GQ interview but kept the location and price under wraps. However, sources have pointed to Fort McClellan in Anniston, a site valued at $1.5 million, as the likely spot. Boasting 90 acres of undeveloped land, barracks, and multiple buildings, the space offers a lot of potential for large-scale productions. “It’s
Mielle Organics, a leader in textured hair care, has announced its first-ever partnership with an HBCU athletic program, which includes a WNBA-led mentorship program for student athletes. Mielle partners with Hampton University Mielle Organics has pledged $300,000 to Hampton University’s women’s basketball. The multi-year partnership includes a $200,000 donation to Hampton Athletics and a $100,000 endowed scholarship through Mielle Cares, the company’s philanthropic arm. Additionally, Mielle is introducing a WNBA-led mentorship program, providing Hampton athletes with professional guidance both on and off the court. Investing in the Future of HBCU
RedDrop, a wellness brand focused on period care for tween girls, has won the $1 million grand prize from Pharrell Williams’ Black Ambition program. This win was announced during the initiative’s fourth annual Demo Day, held to spotlight Black and Hispanic entrepreneurs transforming industries with innovative solutions. Founded in 2020, Black Ambition provides funding, mentorship, and resources to empower underrepresented founders. This year’s Demo Day brought together eight finalists to pitch their ideas to a panel of esteemed judges, including Lisa Price (Carol’s Daughter), Pinky Cole (Slutty Vegan), and Matt
New York-based fintech startup StoreCash has raised $3.7 million in a seed funding round led by Black Operator Ventures, with participation from notable investors like MaC Venture Capital, 43North, Alumni Ventures, and others. This brings StoreCash’s total funding to $6.4 million since its founding in 2019. Instant Cash Back Rewards Founded by Daricus Releford, StoreCash is a mobile app that helps users earn immediate cash-back rewards when shopping at brands such as Gap, H&M, and AMC Theatres, offering users an average of $900 annually. The app integrates its API with
