Waspito, a Cameroonian health startup, has secured a $2.5 million seed extension, helping its growth in Francophone African regions. Waspito Waspito is a health-focused social network that aims to integrate the whole health ecosystem into a single platform. Instead of building a platform involving pre-registration and booking consultation meetings, founder Jean Lobe Lobe opted for one where users could instantly connect with doctors. Lobe founded the startup in 2020, just before the COVID pandemic became a global health emergency, aiming to make healthcare accessible. “Going online to book an appointment
Morgan Stanley Investment Management (MSIM) has announced the close of its Morgan Stanley Next Level Fund, aimed at early-stage tech companies led by underrepresented entrepreneurs. The fund has closed at its target size of $50 million of total capital commitments with investors including Hearst, Microsoft, and Walmart. Morgan Stanley’s Next Level Morgan Stanley’s Next Level is MSIM’s impact-focused private equity business. It makes privately negotiated equity and equity-related venture capital investments in primarily stage tech and tech-enabled companies with women or underrepresented founders as part of the founding team. “We
For almost six years, I’ve sat in on investor meetings and made deals with startup teams committed to disruption. I’ve seen entrepreneurship in its greatest form, and as an early-stage investor, I’ve been part of getting exciting ideas off the ground and into the marketplace. Uniquely, my career as a founder-turned-investor has been surrounded by nuanced advocacy for social equity and fair opportunities, driving me to relentlessly champion underrepresented voices and create a level playing field for all. Early in my career, I worked closely with the leadership gender gap
Nigerian venture capital firm Aduna Capital has announced the launch of a $20 million fund to invest in Northern Nigeria startups and Africa. Aduna Capital Aduna Capital is a registered investment advisor startup with a new wealth management advisor experience. The firm provides investment management services where clients can utilize discretion in managing their accounts. This includes advice with various asset classes, including equity, mutual funds, exchange-traded funds, fixed-income instruments, and options. Specifically, the client grants the firm full power to direct, manage, and change the investment and reinvestment of
Anu Hariharan, who led Y Combinator (YC) Continuity, has partnered with two former colleagues and former Brex executive Lucas Fox to launch a new fund, Avra. Helping founders scale their companies YC Continuity was an investment fund supporting founders as they scaled their companies. But this year, it scaled back growth stage investment and cut nearly 20% of its staff before being discontinued. According to TechCrunch, Hariharan finalized plans for launching Avra two months after YC shut the Continuity fund. She draws on her years of experience supporting founders as
Relevance Ventures and Skoden Ventures have announced the launch of the Native American Capital and Investment Alliance (NAICA) to bridge the gap between Native American founders and capital providers. Relevance Ventures is one of the only privately owned and operated Native American venture capital firms in the US. They provide strategic venture assistance and guidance to entrepreneurs who foster balance and harmony while delivering a positive societal impact. Skoden Ventures is a boutique venture fund investing in early-stage startups with Indigenous, Black, Brown, and women founders. Native American Founders For
As he retires from the NBA, former professional basketball player Andre Iguodala is set to lead Mosaic, his venture capital (VC) fund. Iguodala had an established reputation for nearly two decades as one of the NBA’s most versatile players, an All-Star, and an Olympic gold medalist. He has now announced his retirement from pro basketball to DealBook to focus on his other career as a startup investor. “It’s been a blessing to play for that long,” he told DealBook. Mosaic Mosaic is Iguodala’s $200 million venture capital fund raised with
Black founders raised only 0.13% of all capital allocated to US startups in Q3 of this year, Crunchbase has reported. A decline in funding Only 0.13% of venture dollars allocated between July and September went to Black founders. This equates to about $39.7 million of the total $29.9 billion allocated, a massive year-over-year drop for Black founders. In Q3 2022, Black founders raised $1 billion out of around $81.7 billion in venture dollars, approximately 1.2%. TechCrunch also reported a massive quarter-over-quarter drop as in Q2 of 2023, Black founders raised
Black-owned tech startup Slinger has raised £500,000 ($600,000) in pre-seed funding to shake up the hospitality industry’s hiring process. Brexit and COVID-19 have left the UK’s hospitality industry struggling with staff vacancies – industry vacancies are still 72% higher than pre-pandemic levels. As a result, the industry is having to turn away £25 billion ($30.3 billion) worth of business in the UK. Slinger aims to change this. Group Chat To Google-backed Founded by Theo-Lee Houston, Slinger aims to make hospitality hiring processes easier and fairer, connecting talent with businesses in
The New York City Economic Development Corporation (NYCEDC) has announced the launch of the Venture Access Alliance. Comprising over 70 investors, the Alliance aims to build a more inclusive tech startup ecosystem in New York City. A more inclusive startup ecosystem New York City is the second largest tech ecosystem in the world. Over 30% of businesses in the city are minority-owned, and there has been a noticeable surge in Black-owned businesses. The Alliance is part of NYCEDC’s broader Venture Access NYC program, which aims to increase diversity in the city’s startup
