Intrapreneurship—the practice of creating ventures within existing organizations—could help bridge the resources gap Black founders face, recent new research suggests. Intrapreneurship: A Safer Space for Innovation While Black and white entrepreneurs start businesses at similar rates, Black-founded ventures are only half as likely to achieve financial viability. New research by Olenka Kacperczyk (London Business School) and Tiantian Yang (Wharton) shows Black intrapreneurs achieve financial outcomes nearly equal to white peers, with just a 2% gap over five years. One key factor? Researchers note that employers are already familiar with their
9fin, a London-based debt market intelligence startup, has secured $50 million in Series B funding led by Highland Europe, a prominent growth capital investor. As first reported by The Financial Times, this latest funding is expected to drive 9fin’s expansion, particularly in the United States, where the company’s growth is accelerating. It also marks a milestone in 9fin’s journey, bringing total funding to nearly $90 million since its inception in 2016. Aiming for Billion-Dollar Revenues Co-founded by Huss El-Sheikh and Steven Hunter, 9fin began as a response to the lack
Rebekah Kasumu is on a mission to level the playing field for first-time fund managers. With over 15 years of experience in private markets, she recently launched Flourish Partners, a firm dedicated to helping emerging fund managers navigate the complex world of launching and growing their funds. A Career Built on Experience Kasumu’s track record spans leadership roles at top-tier firms. Before starting Flourish Partners, she worked as Partner and Head of Finance at Localglobe, managing over $2 billion in assets across more than 15 funds. She also led finance and
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,
