Kicking off Black History Month in the US Backstage Capital has announced they’re opening their fund to allow regular people to invest alongside Backstage Capital. Through the crowdsourcing platform, Republic, individuals will have easier access to become venture capitalists. Opening the doors of opportunity for regular people to invest like a VC. It’s already raised $1M from over 2000 investors, with amounts as a little as $100. Leading the way with a new approach to venture capital investing, accredited and non-accredited investors can invest alongside Backstage giving talented underrepresented founders access to capital.
The number of Black-owned businesses has risen dramatically. Research shows, since 2007, the number of firms owned by African-American women has grown by 164%. Yet despite the knowledge, innovation, and let’s face it – the hustle, minority entrepreneurs, are being shut out when it comes to access to capital. However, many Black and Brown celebrities are growing their investment portfolios and flexing their VC muscle. Not only are they investing in startups and hooking up founders with serious capital, but they are also using their platform and wealth to empower
The “Pipeline” is Blocked At The Top — With the recent uprising against systemic racism in our governmental institutions and society, there has been an increased focus on the on the lack of funding for underrepresented founders. Only 1% of VC funded startup founders are Black, Latinas have received .04% of VC funding, women of color can expect an average of $42k seed funding vs. the average seed funding of $1m, the list of stats goes on. Yet the problem is far deeper than startup founder-level stats. It exists at the other side of
Women founders of color deserve recognition — and money. It’s time to replace the window-dressing with real representation. On International Women’s Day, we should focus on the numbers and the right numbers. International Women’s Day (#IWD2020) was designed to celebrate the social, economic, cultural and political achievements of all women — while also marking a call to action for accelerating gender equality. So instead of letting this day pass as yet another PR opportunity to highlight a company or firm’s gender diversity with one specific racial background, let’s take a
TL;DR We don’t have a diverse, equitable, and inclusive (DEI) tech industry. We need one to serve the market better, take the money that’s being left on the table, and produce outsized returns for all. There’s a lack of dollars going to underestimated founders and companies addressing underserved communities, and a lack of diverse check writers. How can we make it a DEI tech industry? Approaches can include, but are not limited to: Increasing the number of underestimated tech talent (also promote, sponsor, and pay well) Increasing the dollars going
Arlan Hamilton — founder and managing partner at Backstage Capital — summarized best why investing in Black Female Founders (BFF) isn’t just important, but could produce high yields: “Less than 0.2 percent of all early-stage venture funding goes to Black women, while we make up approximately 8 per cent of the U.S. population and are one of the fastest-growing entrepreneur segments in the country,” Arlan wrote. “It is my firm belief that because Black women have had to make do with far less for centuries, equipping them with early-stage capital that is
Every year around 0.2% of business funding goes to Black women so last year when Joycelyn and I set out to raise £360k ($450k) whilst I had a very visible baby bump, we knew we’d have a serious fight on our hands… At this year’s London Tech Week, I was flicking through my notes and saw that a year ago we didn’t know the difference between VC and angel investment. Under a year after attending events to learn about investment, in an environment where young black women aren’t funded, we
This is the tale of a technology enabled phoenix. This is the tale of the death of a startup. It is the tale of betrayal and survival. It is long. It is a tale of redemption. It is worth the read. In the year 2011, I was inspired to start a technology-enabled primary care practice that would cut the cost of healthcare in half while 10x-ing the patient experience. I knew a lot about healthcare but nothing about running a clinic. Yet, I knew that I had done harder things
A lot of founders and VCs give advice to startup founders after they’ve become millionaires and notched some wins, which certainly produces some helpful tips but also loads of success bias. On the other hand, some of the best advice I’ve gotten is from fellow entrepreneurs in the earliest stages of their startups, just like me. I can’t consider myself successful yet, but I can say I have some experiences worth sharing with other entrepreneurs. One of the most frequent things I get asked is “how did you raise the
Here are a few lessons I picked up raising our seed round for Amaliah.co.uk. [All the investor quotes are genuine but anonymised]. 1. Don’t be put off Investor: “I simply believe that what you are doing is going to fail” Meh…. Everyone will have an opinion. Not everyone you meet will understand what it is that you are trying to do. As long as you know, that is all you need. 2. Know what words are sexy AI, Fintech, VR = Sexy Words 😍 E-commerce, advertising = Unsexy 😷
