Just 1% of venture capital raised goes to Black entrepreneurs. Fifth Star wants to change that. It’s writing checks at the earliest stages of a startup’s life — the “friends and family” round — providing investments between $25,000 and $50,000 for each startup. It has so far raised just under $1 million, with plans ultimately to deploy $5 million to Chicago’s Black founders. Launched in February 2021, Fifth Star Funds has created a unique venture capital fund specifically dedicated to backing Black founders in Chicago. Fifth Star Funds aims to foster a more
Morgan Stanley’s recent panel discussion to mark Black History Month—featuring three alumni from our in-house accelerator for women and multicultural entrepreneurs—explored issues of access to funding, the Black wealth gap, and other challenges unique to Black founders. The conversation, entitled “A Founder’s Journey: Lessons in Resilience, Vision and Innovation,” moderated by Executive Director LaToya Wilson – included Tiffanie K. Stanard, founder, and CEO of Stimulus, a relationship intelligence SaaS platform that uses data and analytics to simplify how companies make purchasing decisions. B.J. Wiley Williams, founder and CEO of SoHookd, a wellness
Thousands of Africans studying engineering and other subjects in Ukraine are desperate to leave as Russia invades the country. Many of them are using social media platforms such as Instagram and Twitter to keep people updated on their struggles to return back home. One Nigerian Twitter user said she and other students from the West African country were stopped by Polish border guards when attempting to flee. In her video, viewed over a million times, a crowd can be seen pleading with guards, who are standing with leveled weapons. Some,
You might have read the article published last year on the Silicon Valley employee who hid his disability from his employers. In an in-depth piece about his experiences, they started off by saying: “I have a learning disability, meaning that I learn differently from other people. I live and work in Silicon Valley, the natural habitat of road runners. I’ve spent my professional life as one of those worker bees who creates the widgets and doodads that make life a little easier. For the sake of this story—and my employability—let’s
The Blacks in Tech (BIT) employee resource group at Capital One wants to help all its members think through and navigate career elevation. I So in 2021, the group launched the Rise Up mentorship program, where for six months, participants are paired with mentors based on mutual career interests, current job positions, and professional goals, such as leadership or exploring another role. The Rise Up program provides long-term career mentoring and guidance in professional development. Eloise Hudgins, Chief of Staff, Budget and Labor at Capital One, is a mentee from the program.
Founder and CEO Chandler Malone’s tech startup ‘Bootup’ has reportedly raised $2.1 million in seed-round from all Black investors. The product was first launched in July 2021 during what was considered the pandemic’s peak where dozens of countries were thrown into lockdown. Bootup, which focuses on sourcing and hiring non-traditionally trained talent for a range of companies, is said to have grown rapidly, increasing revenue 100% month over month from July through November to a seven-figure run rate, while developing relationships with over 80 employers and 125 tech training programs, according
Investors will be with you for a long time – and ending the relationship can be harder than getting a divorce, says June Angelides, a business owner, venture capitalist, and columnist. Before we discuss the business tips she’s shared in her most recent FT column. Here’s a breakdown of who she is for those of you who don’t know. Angelides was raised in Lagos, Nigeria where she had an early introduction to entrepreneurship through her family. Her uncle Ben Murray Bruce founded Silverbird, the first cinema in Nigeria. She recalled in an interview
British entrepreneur and YouTube star Jamal Edwards has died at the age of 31, his company has told the BBC, but his cause of death has not yet been revealed. He was the founder of SBTV, an online urban music platform that helped launch the careers of artists like Dave, Ed Sheeran, and Skepta. His YouTube channel, which was started in 2006 “on a £20 phone” while he was still at school, has given early exposure to almost every key player in the game including the much-loved Stormzy, Skepta, JME,
Skilled, the world’s largest virtual career center is excited to announce a formal partnership with the Blacks In Technology (BIT) Foundation, the largest community of people of African descent in the technology industry. The collaboration is to provide the Black community with unlimited access to career services which include resume reviews. It will also include 1:1 coaching/mentoring, mock technical interviews, and career counseling with a global community of elite technologists. Blacks In Technology and Skilled aim to continue BIT’s mission to “stop the divide” by establishing a blueprint of innovation and resources meant
Karin Fuentesová started off her career in the accounting sector, where she worked for 13 years. While working there, she observed how much time is wasted by people doing mundane tasks, such as manual data entry of invoices into accounting systems. After taking notes, Fuentesová launched Digitoo, which automates manual bookkeeping processes. Founded in 2019, the founder struggled to find investors but in 2021, it raised €900k in seed funding from Czech investors Kaya VC and Nation 1. For Fuentesová this was a huge success because only 46% of founders raise more than
