Black-Owned VC Firm Receives $1.5M From The Bush Foundation To Support BIPOC Founders
The firm aims to help all startups in its portfolio grow as a brand through investment capital, training, and professional networks.
By focusing on excelling in tech entrepreneurship, Brown Venture Group hopes its investments will help bypass many of the racial biases that have historically prevented economic wealth from equally spreading within Black and Brown communities.
The firm’s recent partnership with the Bush Foundation further marks both organizations’ efforts to ensure people of all backgrounds and identities have access to capital.
“We are excited to welcome the Bush Foundation into our diverse and impressive list of Limited Partners in Brown Venture Group Fund One. This commitment signifies that our mission to support Black, Latinx, and Indigenous entrepreneurs resonates across a broad spectrum of companies and organizations,” said Chris Brooks, co-founder and Managing Partner of Brown Venture Group.
Over the past year, the venture capital firm has invested in 21 BIPOC-owned companies. Additionally, Brown Venture Group is working on expanding its services across tribes in Minnesota to help to advance more opportunities for Native American entrepreneurs.
“It has been gratifying to grow the ecosystem of support and to really dig in and break down barriers of success. We believe that there is unlimited genius and economic opportunity in communities of color. We are elated that we have the necessary resources and relationships to capture that value as we invest in these communities.” Brooks added.