Crunchbase has announced the expansion of its Diversity Spotlight feature to include companies in Europe. This expansion will allow up to one million additional companies on Crunchbase to add Diversity Spotlight tags to their profiles, enhancing the visibility of diverse founders and investors across the continent. Crunchbase’s Diversity Spotlight Crunchbase introduced its Diversity Spotlight feature in 2020 to centralize and highlight data about companies with diverse leadership and the investors who fund them. This feature indicates diversity in an organization’s leadership team, including founders and CEOs for startups and managing
Black-led venture capital firm Harlem Capital is raising a $150 million fund, according to documents filed with the SEC. Harlem Capital, founded in 2015 by Henri Pierre-Jacques and Jarrid Tingle, aims to change the face of entrepreneurship by investing in 1,000 diverse founders. Harlem Capital’s Funds To Date The new fund, if raised, will be the firm’s third and most significant to date after raising $134 million in 2021 and $40 million in 2019. Its second fund focused on early-stage post-product companies from all sectors but a particular focus on consumer and enterprise tech.
Angeles Ventures, a Latine and woman-led early-stage VC fund, has announced an equity investment from Bank of America. This investment aims to accelerate Angeles Ventures’ mission to find, fund, and grow Latine ventures across the United States. Addressing the Funding Gap for Latine Entrepreneurs Even though Latine Americans make up over 20% of the U.S. population and are the most entrepreneurial group in the country, they receive less than 2% of venture capital funding. Angeles Ventures aims to change this by focusing on tech-enabled B2B and B2C startups at the
A report from The Alliance for Entrepreneurial Equity has found a troubling decline in venture capital and other forms of funding for Black-owned businesses. While the number of Black-owned businesses are growing, they are severely underrepresented compared to their population making up only 2.5% of all businesses. In recent years, Black-owned businesses have faced challenges in securing funding, a trend that blocks their growth and reflects issues within the American financial landscape. The Alliance for Entrepreneurial Equity’s latest report, a collaboration between the National Urban League and Third Way, illuminates
Techish host Michael interviews VC and founder Andy Ayim! About Andy Ayim: Former product leader, entrepreneur, angel investor. Ex Managing Director of Backstage Capital London [founded by Arlan Hamilton] Listen on Spotify or Apple podcast also. Watch On YouTube:
Through venture capital, Ohio has gave $86 million to early-stage tech companies in women – minority-owned or underserved areas. The money comes from the federally funded State Small Business Credit Initiative Venture Capital program and will be invested in 11 professionally managed funds. Ohio Funding These funds are aimed at investing in companies focused on things such as health care, manufacturing and food technologies. The funds were eligible to apply for between $5 million and $10 million. “These awards will help spur innovation by fostering a diverse entrepreneurial ecosystem and accelerating the
Verod-Kepple Africa Ventures (VKAV) has announced the closure of its first fund at $60 million. A Pan-African Vision with Global Backing VKAV is a collaborative effort between West African private equity firm Verod Capital Management and Tokyo-based venture capital firm Kepple Africa Ventures. Notably, the fund includes backing from Japanese powerhouses such as SBI Holdings, Toyota Tsusho Corporation, and Sumitomo Mitsui Trust Bank. Nigeria’s SCM Capital and other institutional investors from Japan, including Taiyo Holdings also contributed. VKAV’s investment strategy focuses on digital infrastructure builders, efficiency solvers, and market creators.
Recent data from Crunchbase reveals that there has been a disproportionate decline in venture funding for Black-founded startups in the United States. A Fall Below The $1B Threshold Last year, these startups secured only $705 million in funding, marking the first time since 2016 that the figure fell below the $1 billion threshold. This sharp decline of 71% in funding to Black-founded companies starkly contrasts with the 37% decrease in overall U.S. startup funding, highlighting a widening gap in investment allocation. This drop signifies a declining share of Black-founded startups
Startup SocialCrowd has announced the securing a $1.6 million pre-seed funding round to expand its team and focus on customer acquisition. SocialCrowd Founders Raphael Akinsipe and Paul Doran are on a mission to optimize the world’s labor force through data and automation. The platform automatically tracks employee progress toward goals, reminds them of the work they have left, and rewards them instantly. Key to SocialCrowd’s appeal is its real-time tracking capability, which integrates seamlessly with existing productivity apps. “Many of our customers have large blue-collar shift teams; their staff was
Beta Boom, a US-based venture capital firm, has announced the closure of its $14.5 million Fund II. Founded in 2017 by Kimmy and Sergio Paluch, Beta Boom is committed to bridging the funding gap experienced by underrepresented founders, particularly in areas beyond the major tech hubs. Beta Boom’s Fund II Beta Boom’s Fund II, raised by the duo, alongside Ally Bank, Melinda French Gates’ Pivotal Ventures, and Bank of America, signifies a pivotal shift in the venture capital landscape. The fund aims to support early-stage startups that cater to the
