Angeles Ventures, a Latine and woman-led early-stage VC fund, has announced an equity investment from Bank of America. This investment aims to accelerate Angeles Ventures’ mission to find, fund, and grow Latine ventures across the United States. Addressing the Funding Gap for Latine Entrepreneurs Even though Latine Americans make up over 20% of the U.S. population and are the most entrepreneurial group in the country, they receive less than 2% of venture capital funding. Angeles Ventures aims to change this by focusing on tech-enabled B2B and B2C startups at the
Seven organizations focused on diversity in tech have announced the formation of the Diversity Data Alliance to address funding disparities faced by underrepresented groups. The alliance comprises All Raise, Diversity VC, BLCK VC, StartOut, 2Gether-International, Vets in Tech, and Somos VC. Standardizing Data for a Unified Approach The Diversity Data Alliance has agreed upon a set of standardized demographic data points to be collected across each member organization. This initiative, which began in the spring of 2023 and saw its implementation in 2024, focuses on capturing demographic information, such as race, gender identity, sexual orientation, educational attainment,
A report from The Alliance for Entrepreneurial Equity has found a troubling decline in venture capital and other forms of funding for Black-owned businesses. While the number of Black-owned businesses are growing, they are severely underrepresented compared to their population making up only 2.5% of all businesses. In recent years, Black-owned businesses have faced challenges in securing funding, a trend that blocks their growth and reflects issues within the American financial landscape. The Alliance for Entrepreneurial Equity’s latest report, a collaboration between the National Urban League and Third Way, illuminates
Social entrepreneurship non-profit Echoing Green is launching a $15.6 million fund to provide capital to help social innovators grow. The Signal Fund The Signal Fund will serve as a financial tool providing capital to social innovators at critical growth stages, especially founders with overlooked potential for scalable social impact. In 2019, research from Echoing Green and The Bridgespan Group showed that the revenues of Black-led organizations were 24% smaller than those of their white-led counterparts. The unrestricted net assets of the Black-led organizations were 76% smaller than their white-led counterparts. Co-designed with Angel City Advisors
Terri Burns, 26, the youngest partner in GV’s history and its first Black female partner, is launching her firm, Type Capital, according to Fortune. Breaking the Heat Cycle During her time at GV, formerly Google Ventures, Burns witnessed a recurrent issue within VC funding strategies: the reliance on “heat” from other investors before committing to a deal. “A lot of investors are driven by heat, versus being driven by true innovation,” she told Fortune. “[Founders are] talking to amazing investors, they’re getting some interest, but no one’s really willing to take the leap
Marcy Venture Partners (MVP), co-founded by “Jay-Z” Carter, is reportedly nearing a significant merger with Pendulum Holdings’ investment arm Merger Talks According to Bloomberg, the merger could create a new entity with over $1 billion in assets under management. Sources close to the discussions, who preferred to remain anonymous, have indicated that the merger between these two California-based powerhouses is almost finalized. Both entities have declined to comment on these speculations. Culture-driven investments Marcy Venture Partners, established in 2018 by Jay-Z alongside Jay Brown and Larry Marcus, has demonstrated an eye for culture-driven investments. Its
Audible has recently welcomed four new minority-owned businesses into its Newark, NJ-based Business Attraction Program. The initiative, launched in August 2023, aims to bolster the local economy by supporting startups through financial backing and expert mentorship. Empowering Diverse Founders The focus on minority-owned companies, especially those led by Black women, comes at an important time. Nationally, Black-owned businesses receive one percent of venture funding. Audible’s program seeks to change this disparity by offering each company up to substantial non-dilutive grants of $250,000. These funds are allocated for office space, relocation, and local
British legal tech company Definely has raised a $7 million (£5.6 million) Series A investment round to advance its GenAI proposition that helps draft, edit, and understand legal documents. Last year, the Microsoft- and Google-backed company released Vault. This tool leverages AI and OCR technology to analyze and extract key information and clauses from an organization’s internal contract repository. Vault then makes this information readily available to users directly within their documents, exactly when and where it’s needed. One Of The 50 Fastest-Growing Tech Companies In The UK Founded by two former
Backpack Healthcare, an online pediatric mental healthcare provider, has announced a $14 million Series A funding round. Backpack Healthcare Backpack Healthcare, formerly Youme Healthcare, is a tech company that offers an app and teletherapy services designed to provide accessible and inclusive mental health support for young individuals. Led by founder and CEO Hafeezah Muhammad, Backpack Healthcare aims to make a positive impact on the lives of children and adolescents struggling with mental health challenges. With studies finding that 1 in 6 children have a mental, emotional or behavioural health disorder, along with more than
Techish host Michael interviews VC and founder Andy Ayim! About Andy Ayim: Former product leader, entrepreneur, angel investor. Ex Managing Director of Backstage Capital London [founded by Arlan Hamilton] Listen on Spotify or Apple podcast also. Watch On YouTube:
