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,
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
Techstars-backed edtech startup Lingawa has raised $1.1 million in pre-seed funding to expand its mission of promoting African languages. Formerly known as TopSet, the company has pivoted from academic tutoring to African language learning, starting with Yoruba and Igbo. This pivot aims to address the growing demand for preserving indigenous languages among Africans and the diaspora. Tackling Language Extinction With Tech Africa is home to over 2,000 languages, but approximately 12% are at risk of extinction, with colonialism and globalization cited as key contributors. Lingawa’s mission aligns with efforts to
Illumen Capital, a leader in impact investing, has launched the $32.75 million Catalyst Fund to support first-time fund managers and entrepreneurs, particularly those from underrepresented backgrounds. For the first time, the impact fund of funds has integrated direct investments into its broader strategy, investing directly in diverse-led early-stage companies as well as fund managers. The Catalyst Fund The Catalyst Fund arrives at a critical moment, with Black founders receiving less than 1% of venture capital funding last year, according to Crunchbase. This decline shows persistent biases in the venture ecosystem,
Milwaukee Bucks star Giannis Antetokounmpo has launched a new venture capital firm, Build Your Legacy Ventures (BYL Ventures). Build Your Legacy Ventures This innovative firm aims to create growth in sports and entertainment industries by connecting founders with industry leaders. “This fund is not just about capital,” Antetokounmpo stated in a press release. “It’s about forging partnerships and opening my network to accelerate the growth trajectory for companies. I want to help other entrepreneurs, especially those who have faced barriers, to grow and succeed.” Backing Women in Sports BYL Ventures
Ada Ventures, a prominent early-stage venture capital firm, has launched AdaGPT, an AI tool designed to assist startup founders in perfecting their pitch decks. The free and anonymous platform promises to provide instant feedback on pitches, helping entrepreneurs address potential gaps and align their materials with investor expectations before formal submissions. Addressing the Challenges of Pitch Feedback The traditional startup pitching process often leaves founders waiting for extended periods, only to receive feedback that may highlight fundamental errors. AdaGPT seeks to eliminate this inefficiency by offering immediate, actionable insights. Founders
SocialCrowd, co-founded by Raphael Akinsipe, has successfully raised $2.5 million in a seed funding round led by Bread and Butter Ventures and Augment Ventures. This latest investment, which also saw participation from VC 414, Serac Ventures and FullCircle will support SocialCrowd’s expansion, following a $1.6 million pre-seed round in February. The startup seeks to elevate performance and engagement among frontline and shift-based workers across industries. “Fitbit for work” Platform Founded in 2022, SocialCrowd has carved a niche in helping industries with high turnover rates, such as retail, manufacturing, and hospitality,
