The Black Founders Matter Fund is eyeing a second fund after fully deploying capital from its first. Launched in 2019, the early-stage fund invests in Black and other underrepresented founders building solutions in sectors such as health, wealth, and economic mobility. Managing Director Himalaya Rao-Potlapally says the experience has offered critical insights, not just for the fund’s strategy, but for how the venture ecosystem can better serve founders long term. Investing in Black startups Black Founders Matter began to gain traction in 2020, coinciding with the resurgence of the Black
Willa’s Books and Vinyl, one of the oldest-operating Black-owned bookstores in Missouri, is about to get a makeover thanks to The Kansas City Defender. The bookstore will transform into a public archive and the new headquarters of KC Defender, a nonprofit digital startup that produces news, digital tools, and public services for Black people across the Midwest. Willa’s struggled with financial troubles, asking for help from supporters across Kansas City so it could remain open. Nina Kerrs, a Mutual Aid organizer with The Kansas City Defender and other team members, started
Loula, a Y Combinator-backed startup, has officially launched with a mission to expand access to doula care by helping providers accept health insurance. The software platform and national doula network also manages credentialing, contracting, and billing, streamlining operations so doulas can focus on patient care. Since its launch in February, the company has expanded from 30 to 135 doulas, served 400 families, and facilitated over 2,000 doula visits. It is experiencing growth of over 50% month-over-month, according to its founder, Lindsey Redd. Supporting Doulas Doulas are trained professionals who give
Ami Colé, a Black-owned beauty line founded by Diarrha N’Diaye-Mbaye, will shut down in September. N’Diaye-Mbaye, who is one of the few Black women to raise more than $1 million in venture capital, wrote about her decision in The Cut, explaining that maintaining the business in this current market wasn’t sustainable. “We made operational decisions that felt necessary at the time — like scaling up production to meet potential demand — without truly knowing how the market would respond,” N’Diaye-Mbaye said. Ami Colé’s history The brand, which launched in 2021,
Velveteen Ventures, a Midwest-based firm founded by Native American entrepreneur Betsy Fore, is one of the few US venture firms led by a Native American woman. As reported by TechCrunch, its institutionally backed first fund plans to invest $500,000 to $4 million in 15 to 20 seed and Series A startups focused on e-healthcare, climate, consumer, and community. Lack of Native American female founders The number of native American founders in the US is extremely low. TechCrunch attempted to find funding statistics for Native American founders, but the figures were
Torch, a leadership and coaching enterprise, has acquired Praxis Labs, an immersive learning platform that uses AI to build inclusive workplace cultures, for an undisclosed amount. As part of the acquisition, the entire Praxis Labs team will join Torch. Praxis Labs’ co-founders, Elise Smith and Heather Shen, will join Torch as Head of AI Growth and Head of AI Product, respectively. About Praxis Labs Founded in 2019, Praxis Labs is an AI platform that builds critical human skills with research-backed practice simulations, AI coaching, and skills assessments. The startup has
Unemployment rates for Black women are rising, and economists believe this signifies a broader problem. Black women’s unemployment rate increased from 5.1% in March to 6.1% in April and reached an all-time high in May at 6.2% before dropping to 5.8% in June, according to data from the Bureau of Labor Statistics reported by The 19th. Rates for white and Asian women remained close to 3% and 5% for Latinas, in comparison. Experts believe that this highlights a strain in the economy. Why is this concerning? Due to systemic racism
Liquify, a woman-owned trading finance platform, has secured $1.5 million in seed funding. Future Africa led the raise, with participation from Launch Africa Ventures, 54 Collective, Digital Africa, Equitable Ventures, and angel investors. The Ghanaian company was founded by Nadya Yaremenko and Alberta Asafo-Asamoah in 2023 to connect small and medium-sized enterprises (SMEs) in Africa with global capital markets. How does Liquify work? The startup operates an invoice finance marketplace that connects African SME’s with global capital markets. Its platform exports allow exporters to turn unpaid invoices into same-day cash, and international investors can receive
Dr. Valerie Camille Jones Ford, a math teacher in Atlanta, will be inducted into the National Teachers Hall of Fame, making her the sixth Black woman to receive the award. As a mathematics educator, Jones has been teaching for over 20 years at Ron Clark Academy in Southeast Atlanta, going above and beyond for her students. She employs unique strategies that empower students, broaden their engagement, and foster a strong sense of community. “I’m incredibly proud to be among such amazing educators, but it lets me know there’s still work
TIAA President and CEO Thasunda Brown Duckett has joined the WNBA’s New York Liberty as an investor. Other celebrities with minority stakes in the team include Jack Ma, Karen Finerman, Karlie Kloss, Gabrielle Rubenstein, and Samantha Lasry; however, Duckett is the only Black investor on the list. “Sports has made a profound impact in my life. It taught me grit, perseverance, teamwork and resilience. To be an investor in women’s sports and the NY Liberty franchise is truly an impact moment,” Duckett said in an Instagram post. Duckett joins the
