Primary Venture Partners has partnered with over 25 leading New York-based venture firms and startups to introduce the Factor Fellowship. This program will tackle the diversity, equity and inclusion (DEI) challenges head-on by connecting the city’s VC-backed startups with top talent from underrepresented groups. Addressing Diversity in Venture Capital and Startups The data on diversity within the venture capital and startup landscape shows that only about 13% of venture capital decision-makers are women. Funding for Black founders also declined in 2023, failing to reach the $1 billion mark for the first time since 2016.
According to Reuters, Bank of America (BoA) has announced an investment in Impact X Capital Partners’ IX Global I fund. The initiative aims to nurture underrepresented innovators, particularly women and founders of color, in sectors like digital technology. Impact X Capital Partners IX Global I Fund Impact X Capital Partners, established in 2019 and headquartered in London, blends financial returns with social impact. The venture capital firm is dedicated to addressing the disparity in capital access for diverse UK and European entrepreneurs. Impact X has several notable founding members, such as Ursula Burns, former CEO
Tech Nation has revealed the startups selected for the 2024 cohort of their Libra program, which aims to champion underrepresented founders. Based in the UK, Tech Nation is the leading growth platform for tech insights, connections, collaboration, and talent. It empowers ambitious founders and their teams with the access and knowledge they need from their seed stage to their end goal. Over the past decade, Tech Nation has engaged with over 5,000 businesses and accelerated 1,250 through 48 growth programs. The Libra Program Libra is the growth program for underrepresented tech founders
People of color are well-represented in Canada’s tech sector, a new report by the Tech and People Network (TAP Network) has found. However, Indigenous Canadians and women remain underrepresented among tech employees. TAP Network’s Diversity in Tech report provides an annual benchmark for Canada’s tech sector to track its progress in increasing the representation and inclusion of equity-deserving groups within the industry over time. Equity, Diversity, Inclusion, and Belonging Data from nearly 200 employers showed positive trends in Equity, Diversity, Inclusion, and Belonging (EDIB) policies and practices at tech organizations.
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
Wellington Access Ventures (WAV) has raised $150 million for its debut, with the backing of limited partners, including state pension plans and banks. Led by four Black investors, WAV seeks to become a go-to investor for early-stage founders from underrepresented backgrounds. Wellington Access Ventures Founded in 2021, Wellington Access Ventures is the corporate venture capital arm of Wellington Management, based in Boston, Massachusetts. Investors include the fund’s leaders, Jackson Cummings, Frederik Groce, Van Jones, and Sasha McKenzie. All four investors were involved in some capacity in BLCK VC, the non-profit
