Olympic gold medalists Lauryn Williams and Sanya Richards-Ross, also of The Real Housewives of Atlanta, are embarking on a new journey in the venture capital space. As Debut Capital company investors, Lauryn Williams and Richards-Ross have become two of the first venture capitalists to invest in the Black-owned hiring platform Us In Technology (UIT). “We are incredibly excited about helping UIT connect many more people of color, women, military veterans, people with disabilities, and members of the LGBTQ+ community to life-changing opportunities within the tech industry,” said Richards-Ross. From Athletes
Venture capital (VC) investment in African startups has seen a 33% increase compared to this time last year, according to gathered by The Big Deal. This follows similar reports of funding for African startups hitting new records in the first half of 2022. So far this year, more than 800 investors have contributed to at least one $100K+ startup deals on the continent. Investors have also been far more active than in previous years. For example, 250 firms made at least two investments (45% more than in 2021), and 60 partook
In a recent TikTok video, former Beauty and Style Editor at Essence magazine, Blake Newby, opened up about her journey into venture capital after spending many years working within the editorial and digital realm. After one year as Beauty and Style Editor at Essence magazine, Newby has set her sights on a new journey: helping small Black beauty brands excel to new heights. “So, as of Friday, I am no longer a Beauty and Style Editor. I know that I have detailed the volatility of the editorial industry – I’m
Black-owned venture capital firm Microtraction announced a $15 million close of its second fund to further invest in African tech entrepreneurs. Microtraction, founded in 2017 by Yele Bademosi and Kwamena Afful, works to make pre-seed funding for African tech entrepreneurs more accessible. The organization has invested in 36 businesses across Nigeria, Ghana, Kenya, and Rwanda. Their services aim to assist early-stage startups with pre-seed funding and advisory services. According to Microtration, its portfolio companies have raised over $100 million in follow-on funding, valuing the firm’s portfolio at over $750 million
Venture capital firm, LatinxVC, has opened applications for the third cohort of LatinxVC fellows. The eight-week program prepares participants for a successful analyst, associate, and senior associate role at a venture capital firm. In addition, the program will equip Latinx candidates with the tools needed to succeed and break into the investment world. LatinxVC was founded in 2019 by Rami Reyes, Maria Salamanca, and six other Latinx professionals. It works to grow the number of Latinx professionals in venture capital by helping them develop their careers and network. Their eight-week program
“If I have to choose between building my tennis resumé and building my family, I choose the latter.” World acclaimed tennis player Serena Williams recently announced in an interview with Vogue that she would be stepping away from tennis and “evolving away from the sport,” – so what does the future look like for Williams? Two years ago, Serena Williams launched her first-ever venture capital firm, Serena Ventures. Williams has used her platform to invest in early-stage companies and has also carried out five exits valued at over $100 million.
Black-owned VC firm, Cornerstone has launched its first-ever investment fund to help support entrepreneurs from diverse backgrounds. The £20 million ($23.9 million) fund aims to give early-stage tech companies between £250,000 and £1 million, based in the UK and across 40 countries. Cornerstone VC wants to help change the situation, to make the investment world a lot more diverse by backing unrepresented and undervalued founders and innovators. “We believe diversity is key to driving outperformance. Contrary to perceptions around a pipeline problem, that there aren’t enough diverse entrepreneurs to invest
Africa-focused VC, Oui Capital, closed its $300 million second fund, Capital Mentors Fund II, targeted at supporting pre-seed and seed stage businesses. The funding round included investors, D Global ventures, Angur Nagpal’s Vibe Capital, One Way Ventures, and Ground Squirrel Ventures. Oui Capital, founded by Olu Oyinsan and Francesco Andreoli, launched its first $10 million fund in 2018. The investment firm aims to bridge the gap between high-growth technology startups in sub-Saharan Africa. It is on a mission to become the first “yeses” entrepreneurs hear as they embark on their startup
American rapper and lead MC of hip hop group The Roots, Tariq Luqmaan Trotter, also known as Black Thought, recently announced his journey into venture capital. According to HipHop DX, the lyricist has joined early-stage tech venture firm Impellent Ventures as a general partner. Black Thought will work alongside the team to help recruit and encourage entrepreneurs to help them continue growing their new business while giving them the tools they need to build a longstanding business. His role as a partner at Impellent Ventures will help him elevate Black entrepreneurs
As the financial downturn continues to daunt the world and we slowly move towards another recession, venture capital funding has dropped significantly, ultimately affecting the progression of early startup businesses. Entrepreneur McKeever “Mac” Conwell shares his tips on how startup businesses can survive, grow, and expand during these turbulent times. Black-owned VC firm, RareBreed, founded in 2021 by McKeever “Mac” Conwell, is a pre-seed fund that invests in early pre-seed tech companies. It also allows angel investors to become limited partners for more significant funds. So not only does it
