VC Firm Launches $10M Diversity Fund To Support Fintech Startups
Investment firm Twenty Five Ventures recently announced the launch of their diversity fund: 25V Diversity Fund. The venture capital firm aims to invest up to $10 million in early-stage real estate, property, and fintech startups led by Black and Latinx entrepreneurs.
Twenty-Five Ventures, founded in 2020 by Maximillian Diez, works to create an entrepreneurial ecosystem that allows everyone to access financial and knowledge-based resources where founders and investors can thrive.
According to a Crunchbase report, Black and Latinx founders receive less funding than non-minority counters. So, despite recent figures showing an increase in demographics, there is still a lot of work to do, which is why the 25V Diversity fund is vital.
“We are looking for founders and limited partners who show determination and tenacity, and we find these qualities quite often in entrepreneurs who belong to marginalized communities,” said Maximillian Diez, founder of Twenty Five Ventures.
The 25V Diversity fund, launched earlier this year, works to create a more equitable playing field for minority founders and executives. The program not only provides financial support to entrepreneurs but also helps to provide more opportunities for tech entrepreneurs.
“Diversity in our investment pool is not only the right thing to do but also smart business,” said Alexandra Tieu, co-founder of the 25V Diversity Fund. “To be truly diverse, you must open up and change who decides where the capital goes.”
According to the outlet, Twenty-Five Ventures will use the 10-year fund and the subsequent series of funds to assist entrepreneurs with everything they need to scale and grow a successful technology business.