Browse Tag

venture capital

2 mins read

Black Tech Nation Ventures Raises $50M to Fuel Diverse Tech Startups

Black Tech Nation Ventures (BTN.vc), a venture capital firm committed to empowering Black and diverse founders in the tech sector, announced the successful closing of its $50 million inaugural fund on February 28, 2024. This achievement marks a significant milestone in the firm’s mission to bridge the funding gap for historically underrepresented groups in the tech industry.

The newly secured fund will primarily target pre-seed and seed-stage software and enterprise-focused startups led by Black, Latinx, female, indigenous and LGBTQ+ entrepreneurs who have the potential to generate outsized returns. “We set up BTN.vc to equip and train a new generation of more diverse entrepreneurs and investors,” said David Motley, one of three general partners. “We are committed to providing intellectual as well as financial capital to help our founders navigate growing a successful company and opening up opportunities for future venture capitalists who are Black or diverse to participate in the industry.”

The firm has already invested in 10 companies in cities including AtlantaBostonDistrict of ColumbiaIndianapolisNew York, and Pittsburgh. These include; EMTECH, a fintech infrastructure company; Goodfynd, an enterprise solutions provider for food truckers and mobile vendors; The Folklore, an e-commerce platform connecting brands from the African continent to premium retailers in the US; and Kloopify, provider of supply chain sustainability analytics. Multiple investments have already secured up-round follow on funding.

BTN.vc expects to back 20-30 companies from its inaugural fund, typically seeking entry at the pre-seed and seed stages with checks in the $250,000 to $1M range. The firm has led, co-led and or helped complete funding rounds.

The team has built a unique deal funnel to match its investment focus, which includes diverse professional development groups, top tier research universities, and historically Black colleges and universities.

 

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10 mins read

Fabrice Do Rego on Changing The Face of European Venture Capital

Fabrice Do Rego is the co-founder of The Blueprint VC, a venture capital firm focused on backing under-represented founders in France and Belgium.

In this interview, Fabrice shares his motivations, investment strategies, and insights for the future of European VC. He also delves into his views on promising sectors, the rationale behind a sector-agnostic approach, and the challenges he faced as a Black fund manager.

Fabrice Do Rego

What inspired you to start a VC fund?

What inspired me to launch a VC fund was the coming together of several factors that I summarize by the notion of Ikigai, a Japanese concept referring to something that gives a person a sense of purpose, a reason for living.

I went to business school, I started my career in M&A in large international investment banks, I then became an entrepreneur by creating an M&A boutique where I advised SMEs, startups, and scaleups in their fundraising, development strategies, and exit strategies. I loved it and still do. This ties in with the two essential points of Ikigai, what I like to do and what I’m good at.

Then, what was probably the most important and founding point in my thinking was to think about what the world needs in a logic of economic AND social value creation. To put it simply, I realized two things that I thought didn’t make sense. (1) Teams of diverse founders are on average more efficient than homogeneous teams and despite everything we see that (2) only a very small amount is invested in these teams of mixed founders (I’m talking about diversity of gender, origins, etc.). There is therefore a market inconsistency which seems obvious to me.

Finally, what was also decisive was our conviction that the more efficient we are, the more diverse we are going to make the ecosystem, the more we are going to create new role models and the more we are going to ensure that having diverse founding teams will be the norm. We create a virtuous circle.

Ultimately, rationally the decision to launch a fund with this investment strategy was very simple. Now the implementation of this especially in a very tense market environment is another debate… 😉

What are some of the most promising sectors for venture capital investment in Europe right now? 

I don’t think I’m going to be very original in saying that everything related to AI will constitute a significant part of the investment. However, I think that in terms of the structure of these investments, these are going to be significant amounts in relatively few companies. Unlike B2B SaaS which will continue to attract a lot of funding but with relatively lower amounts in a relatively larger number of startups.

Beyond that, within Blueprint VC there are two sectors for which we have taken a slightly more proactive approach in terms of dealflow, these are HealthTech and everything linked to Climate and Decarbonization because we have a very positive long-term vision. We believe that the issues linked to these two segments are essential and must be addressed and I also believe that the added value of diverse teams is even stronger in these segments.

What was your reasoning behind making your fund sector-agnostic?

The choice to be sector agnostic lies in elements that are purely mechanical and/or financial. Namely, a diversification of risk, a larger pipeline, and therefore a higher rate of selectivity, and agility with regard to our strategy to try to be ahead of trends, etc.

Then some elements are a little more intangible. For example, I am quite convinced that in early stage the needs of entrepreneurs are very similar, whether in terms of organization, recruitment, financing, etc. I don’t have the feeling that early-stage specialization has any impact on the fund’s performance. Maybe potentially on dealflow but given our strategy on typology of founding teams, I’m not too worried about that.

Finally, on a personal level, I find it more intellectually stimulating to be confronted with different sectors, or even different situations. Possibly drawing inspiration from completely different sectors to advise/support entrepreneurs from another sector, etc. It also prevents boredom and a potential drop in motivation for me.

What, if any challenges have you faced as one of the few Black fund managers in Europe?

First thing to say is that for everyone, whoever you are (except a few very privileged people) it is very difficult to raise a fund (especially a first one), especially in a market environment such as what we have known since mid-2022.

Then obviously when we come with an “original” thesis, which has not yet been deployed in continental Europe and with a typology of GPs that we are not used to seeing, we indeed experience difficulties. 😉

Finally, putting aside aspects linked to bias and possible stereotypes (which I cannot measure in any case), it is true that we had limited access to networks of LPs such as HNWI, Funds of Funds, etc. but we built it little by little. So, it takes time, and you just must be aware of it.

How do you see the European VC landscape evolving in the coming years? What trends do you expect to see emerge?

I think a lot of funds will disappear over the next few years. However, I don’t think it’s a bad thing in absolute terms.

I think that the number and size of funds, in addition to the available cheap money and an unprecedented global environment linked to COVID, led us to the bubble that we experienced at its peak in 2021. It is therefore normal or even healthy that there is a correction.

If we can take advantage of this correction to restore the structural inconsistencies of the market, that is a good thing.

I don’t know what the future will hold at this level. But what I hope because I think it will be a good thing for the ecosystem and its efficiency is that:

  • there is a real segmentation between the funds and their investment phase (pre-Series A, post-Series A/Growth, Late stage, etc.)
  • the number of early stage (pre-seed/seed) funds will be very large but with significantly lower average AUM

What advice do you have for other emerging fund managers?

The following fundamentals should be mastered before considering contacting LPs to raise a fund:

  • Develop an ultra-clear investment thesis that demonstrates that you have thought through all aspects from the genesis to the exit of the fund through execution.
  • Mastering portfolio construction is essential. Show that you have thought in detail about the unit economics of your fund and that you have considered a certain number of scenarios.
  • Surround yourself with a complementary and exceptional team on each of the added value topics that you offer to your portfolio companies.

Once you have these basics, the essential point is to distribute your time well with potential LPs. My recommendation is to spend a lot of time early on with LPs that are intrinsically aligned with your investment strategy AND that can put an anchor investor ticket.

At the same time, you start building the relationship with the other LPs and once the anchor(s) have confirmed their interest (by committing) you accelerate the discussions with the others.

by Tony O. Lawson

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3 mins read

Eastside Golf Receives $3.4 Million to Drive Cultural Shift in Golf

Eastside Golf, the lifestyle golf brand founded in 2019, recently closed a $3.4 million seed round led by EP Golf Ventures, a partnership between the PGA of America and Elysian Park Ventures. The investment aims to accelerate Eastside Golf’s growth and redefine the cultural perception of golf.

Founded by Olajuwon Ajanaku and Earl Cooper, Eastside Golf has achieved remarkable success, experiencing a 600% year-over-year growth in the past two years. The company has grown from 2 employees to 16, its revenue reportedly increasing from $100,000 in its first year to $4 million in 2023.

eastside golf
Eastside Golf founders, Earl Cooper (L) and Olajuwon Ajanaku (R)

The brand’s unique apparel line has resonated beyond traditional golf circles, embraced by professionals, celebrities, and athletes.

EP Golf Ventures, recognizing Eastside Golf’s potential, commended the founders for creating a brand that transcends golf’s traditional boundaries. Jay Adya, Managing Partner at Elysian Park Ventures and EP Golf Ventures, expressed confidence in Eastside Golf’s capacity for immense growth.

Seth Waugh, CEO of PGA of America, highlighted the organization’s commitment to evolving golf culture. The partnership with Eastside Golf aligns with PGA of America’s goal to broaden participation in the sport and make it more inclusive. The investment supports Eastside Golf’s mission to create new entry points for diverse audiences.

With the secured funding, Eastside Golf plans to launch new product lines, including wholesale and women’s apparel. The company aims to double the number of pop-up events in major markets, hosting its second-annual Eastside Golf Invitational during New York Fashion Week. The highly anticipated “Spring Forward” collection will debut at the PGA Show in Orlando.

eastside golf

The company’s success extends to celebrity endorsements, including NBA stars Chris Paul and Jayson Tatum, NFL great Victor Cruz, musician DJ Khaled, and former President Barack Obama. Collaborations with global brands like Jordan Brand and strategic partnerships with the NBA, MLB, and Mercedes Benz underscore the brand’s impact.

Deeply committed to social causes, Eastside Golf has donated $150K to support HBCU golf, emphasizing inclusivity and authenticity. The founders envision creating brick-and-mortar locations and expanding internationally, with gratitude for EP Golf Ventures’ support.

With a focus on inclusivity and innovative design, Eastside Golf is poised to lead the way in making golf more accessible and appealing to a diverse audience.

by Tony O. Lawson

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4 mins read

SteelSky Ventures’ Maria Toler on Leading One of the Largest Women’s Health Funds

SteelSky Ventures is one of the largest venture capital funds focused on women’s healthcare. The firm manages $73 million in total assets under management and has invested in some of the most innovative companies in the women’s health space.

In this interview, Maria Toler, Founding and Managing Partner of SteelSky Ventures shares insights into the firm’s journey to becoming a leader in women’s health venture capital, its strategies for supporting portfolio companies, and its commitment to inclusive and equitable solutions.

steelsky ventures

Becoming one of the world’s largest women’s health funds is a significant achievement. Could you share insights into the journey and strategies that led SteelSky Ventures to reach this milestone?

Embarking on this incredible journey, my entrepreneurial spirit has been evident since childhood, from running lemonade stands to founding Collegeboxes, a student storage company acquired by U-Haul. As a serial entrepreneur, the disparity in venture capital funding for women’s health entrepreneurs spurred me to establish a fund that supports groundbreaking companies. Achieving this required resilience, tenacity, and support from a mission-aligned ecosystem.

How does SteelSky Ventures foster the growth of its invested companies beyond providing capital?

At SteelSky, our sustained support extends beyond capital. Through the SteelSky Scale program, we collaborate closely with portfolio company founders on strategic introductions, financing strategies, and talent acquisition. We facilitate discussions among founders on industry trends, recently hosting a panel on M&A.

Our Scale program has enabled portfolio companies to secure transformative partnerships and collectively achieve valuations exceeding $5 billion.

Ensuring inclusivity and equity in women’s healthcare, how does SteelSky Ventures address the diverse needs and experiences of women?

To enhance access, care, and outcomes in women’s health, we prioritize investing in founders employing diverse approaches to problem-solving. This allows us to source and scale companies driving real innovation in overlooked and underserved communities. For instance, our portfolio company Mae addresses the Black maternal health crisis with a culturally competent care marketplace tailored to Black women, increasing access and improving outcomes.

What advice would you offer entrepreneurs seeking investment from SteelSky Ventures in the women’s healthcare sector?

SteelSky partners with passionate founders innovating in women’s health. We invest in Series A companies with product-founder fit, demonstrated solutions to critical women’s health issues, and readiness to collaborate with leading healthcare institutions.

Examples from our portfolio include Midi Health, addressing menopausal care, Origin, a leader in pelvic floor physical therapy, and Twentyeight Health, providing telemedicine for reproductive healthcare.

For other venture capital firms aiming to make an impact on women’s health, what advice would you give?

To impact women’s health, assemble a diverse team providing a comprehensive perspective on disruptive areas. SteelSky’s all-female team and ecosystem of advisors and advocates have been foundational to our success. Diverse leadership fosters innovation and understanding of the nuanced challenges in women’s health, driving meaningful impact.

by Tony O. Lawson

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4 mins read

Driving Change: Shekel Mobility Raises $7 Million to Revolutionize African Car Trading

Shekel Mobility, a B2B trading platform tailored for car dealers in Africa, has secured a $7 million seed investment in its latest funding round. This financial backing comprises $3.2 million in equity and over $4 million in debt, with Ventures Platform and MaC VC leading the investment round.

The primary goal behind this infusion of capital is to fuel the expansion of Shekel Mobility’s operations into new African markets while fostering the development of innovative products and services within the platform.

Nigeria, recognized as the largest market for used cars in Africa with an estimated value of $10 billion, serves as a focal point for Shekel Mobility’s operations. Positioned as one of the key players in this lucrative market, the company stands poised to capitalize on the continuous growth of Nigeria’s economy.

The Nigerian used car market boasts a significant scale, with an annual sale of over 1 million used cars. Forecasts from a 2022 Statista report suggest a prospective escalation of the Nigerian used car market to a value of $1.3 billion by 2025.

However, despite this burgeoning demand, Africa’s car ownership remains notably lower than the global average, standing at fewer than 45 cars per 1000 people. To address this gap, emerging startups like Autochek and Moove have aimed to cater to consumer and driver needs. Yet, a critical need persists for solutions designed specifically for vehicle sellers in Africa, a void effectively filled by Shekel Mobility.

The existing market landscape in Africa remains predominantly offline and fragmented, presenting challenges for both buyers and sellers, including a lack of transparency, difficulty in sourcing suitable cars, and complex paperwork procedures.

Shekel Mobility has strategically positioned itself to tackle these obstacles by offering a centralized online platform that directly connects buyers and sellers. The platform features an array of tools empowering buyers to easily locate their ideal vehicles, leveraging detailed listings, 360-degree photos, and immersive virtual reality tours.

Since its inception, this Y Combinator-backed startup has reportedly facilitated transactions exceeding $56 million. By contributing to the expansion of over 1,400 auto dealerships and facilitating sales involving 7,000 cars, Shekel Mobility has demonstrated its impactful presence within the market.

The linchpin of the startup’s growth lies in its flagship offering, Shekel Credit. This unique service furnishes immediate financing to auto dealers, granting credit limits of up to $200,000 for vehicle acquisitions, typically ranging from $5,000 to $20,000.

Under this financing structure, the dealer contributes 30% of the total cost, such as $3,000 for a $10,000 car, while Shekel covers the remaining 70% as a loan to the dealer. Upon selling the vehicle to the end customer, typically within a three-month period, the dealer reimburses Shekel, encompassing the loan interest and transaction fees associated with the car sale.

Marlon Nichols, the founder and managing partner at MaC Venture Capital, expressed enthusiasm regarding the investment round, highlighting Shekel Mobility’s potential to revolutionize and stimulate growth within Africa’s automotive industry. Nichols emphasized how the team enables substantial financial movement within the Nigerian economy while simultaneously providing affordable automobiles to locals.

by Tony O. Lawson

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7 mins read

Nia Batts: A Journey from Entertainment Exec to VC Supporting Detroit’s Tech Ecosystem

In this interview, Nia Batts, a General Partner at Michigan-based Union Heritage Ventures, provides insights into her journey into venture capital and her perspectives on the evolving landscape in Michigan.

With over three decades of experience in the capital markets, Nia is not only committed to driving growth in investment portfolios but also dedicated to empowering minority and women-led firms and the communities they serve.

Can you tell us about your journey into the world of venture capital?

My background is in corporate media and entertainment. I spent the majority of my professional career at what is now Paramount (formerly ViacomCBS) overseeing Strategic Partnerships and Social Impact. That work brought me back to my hometown of Detroit at a time when the city was undergoing a significant period of revitalization. When you’re from Detroit, even if you’ve only lived there briefly, it never leaves you. You carry it with you and talk about it every chance you get because you feel a responsibility to combat the dominant narrative with stories of your lived experiences.

In 2012 I helped put together a weekend with a group of friends to show our friends on the coasts what was possible in our city. We thought maybe 20 people would show up, but we ended with more than 125 participants. We named it after a mural created by youth in the Detroit Summer program: Another Detroit is Happening. Another Detroit is still happening.

I too, with my partners, Katy Cockrel and Sophia Bush, built and launched a business in Detroit, raised a pre-seed round of investment and unfortunately faced the reality of winding down a business that was not built for the economic effects of COVID that lasted much longer than expected. But that fueled the next chapter, bringing the conversation around equity for women of color from the beauty space into the investment space.

We’re currently the only African-American majority-owned venture capital firm in the state of Michigan, and we are also majority women-owned and led.

Are there any exciting trends or opportunities you’re currently observing in your focus industries within the VC space?

I’m a third-generation Michigander, so I’m long on Michigan. I also feel the same existential dread about climate change that most others my age and younger do. So I’m interested in building for the future. Not only are there great climate tech and clean energy companies coming out of Michigan, but many are diversely owned and led. One of the greatest wealth transfers in a generation is going to happen in this space, so as an investor, I’m interested in the long game.

A trend I don’t like is these grant competitions that are advertising non-dilutive capital for winners but then in the fine print you find out it’s a SAFE (Simple Agreement for Future Equity). I’ve seen this impact diverse founders especially. There needs to be more cultural competency from early-stage investors and truly value-added capital. We’re trying to be really intentional about not just critiquing the problem, but being a part of the solution, as well.

What excites you the most about Michigan’s tech and entrepreneurial landscape?

Michigan has always been a place where we make things, and we make things happen. We have shown over and again that we are a resilient and innovative community. The only place in the country that has more engineers per capita outside of Silicon Valley is Southeastern Michigan. Before there was Silicon Valley there was Detroit. If I were a betting woman, I’d say Detroit is going to Detroit again.

The other thing about Detroit and Michigan is we’re not waiting for anyone to save us. There’s an incredibly, diverse, leaderful movement of entrepreneurs here that have self-organized and are helping each other. The Black Tech Saturdays community that convenes at Newlab is really leading that charge, as well as Michigan Tech Week’s annual conference.

How can Michigan continue to build on its momentum as a tech hub, and what role do you see Union Heritage Ventures playing in this ongoing development?

We talk a lot about diverse entrepreneurs, and absolutely should. But we also need to talk about diverse allocators. So, that means everyone with a meaningful budget has to engage and participate. There has to be accountability in the system.

That means the state, corporations, and non-profits; everyone making the decisions needs to acknowledge that there is an ecosystem of entrepreneurship that doesn’t only begin and end with founders. Frankly, as venture investors, we owe a debt of gratitude to the angel community who have invested in companies and believed in founders before they had an MVP.

Without them, there is no us. I think part of our role moving forward has to be creating space for more diversity on the cap table of investments we make. How we go about doing that is an active conversation at our firm.

by Tony O. Lawson

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5 mins read

Black Tech Saturdays: Empowering Detroit’s Tech Ecosystem

In the resilient and innovative city of Detroit, Black Tech Saturdays is paving the way for Black entrepreneurs and founders to succeed.

We caught up with the visionary founders Johnnie and Alexa Turnage, to learn more about their transformative initiative and its impact on the Detroit tech community.

Black tech Saturdays
Alexa Turnage (L) and Johnnie Turnage (R)

The inspiration behind Black Tech Saturdays

The journey into the world of tech can often be challenging, and for founders of color, it can feel like the odds are stacked against them. Alexa and Johnnie shared their motivation, stating, “We had to learn really fast and oftentimes felt like the spaces weren’t designed for us to succeed.” Recognizing a shared experience among many in the community, they decided to take action.

Black Tech Saturdays began organically while working on their MVP fundraising platform at Newlab in the Michigan Central building. They started inviting other tech enthusiasts to join their weekly meetings, and it soon became clear that there was untapped potential in the room. The initiative gained momentum, and when the first public meeting was announced on April 29th, 25-30 individuals showed up. From there, the movement continued to grow, evolving into what it is today.

Milestones and Accomplishments

Since its inception, Black Tech Saturdays has grown from just a handful of participants in a conference room to nearly 500 attendees on Saturdays. With approximately 3,500 unique attendees in total, the impact is undeniable.

The organization’s accomplishments extend beyond numbers. They’ve helped founders secure significant deals, connected entrepreneurs with access to capital and networks, and provided essential soft skills training.

Support from federal, state, and local governments, as well as partnerships with foundations and VC firms, have reinforced their mission. Elected officials, celebrities, and government representatives have also joined the cause, elevating the narrative around Black Tech and sharing invaluable knowledge and resources.

Hosting events like the Venture 313 2nd annual celebration and participating in national conversations about entrepreneurship advocacy have further solidified Black Tech Saturdays’ position as a driving force for change.

The Future of Detroit’s Tech Ecosystem

When asked about the future of Detroit’s tech ecosystem, Alexa was optimistic. She emphasized a shift in the narrative, with a focus on abundance, collaboration, and a movement they call “#Togetherwecan.” The culture of supporting one another and celebrating successes is key to this transformation.

Detroit is on the path to becoming a federal tech hub, opening doors to more resources for the city’s growth. By centering the innovation conversation around diversity, equity, and inclusion, the city is poised to become a thriving tech hub that welcomes and empowers everyone.

Advice for Promoting Diversity and Inclusion in Tech

Their advice for individuals, companies, or organizations looking to make a positive impact on diversity and inclusion in the tech industry is clear. They stress the importance of supporting entrepreneurs, building communities, and creating safe spaces for authentic growth. Addressing specific areas needing improvement within an organization is also crucial.

Johnnie and Alexa invite those interested in improving their ecosystems or organizations to reach out, as collaboration and strategic planning can help advance the mission of diversity and inclusion in tech.

Getting Involved with Black Tech Saturdays

To get involved with Black Tech Saturdays and support their mission, interested parties can explore various avenues:

  1. Sign up as a founder.
  2. Sign up as a job seeker.
  3. Sign up as a partner.
  4. Connect with Johnnie and Alexa on Linkedin.
  5. Follow Black Tech Saturdays on Instagram 

As Black Tech Saturdays continues to grow and make a significant impact in Detroit and beyond, these opportunities offer a chance to be part of a movement that’s redefining the future of tech.

by Tony O. Lawson

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2 mins read

Fantasy Sports Stock Market, PredictionStrike Secures $10 Million

PredictionStrike, a fantasy sports stock market that allows fans to buy and sell shares of professional athletes, announced yesterday that it has raised $10 million in Series A funding.

The round was led by Bullpen Capital, with participation from MaC Venture Capital, Sixty8 VC, Correlation Ventures, Elevate Capital, Gaingels, and HighSage Ventures.

The new funding will be used to expand PredictionStrike’s platform and reach new users. The company plans to add new sports leagues and countries, develop new features and products, and grow its marketing and sales team.

PredictionStrike is a unique and innovative way for fans to engage with sports. The platform allows fans to put their knowledge of sports to the test and potentially make money by making accurate predictions about the performance of athletes.

“There’s something revolutionary and fulfilling about helping Americans turn their pastimes into financial opportunities,” said Deven Hurt, Co-Founder and CEO of PredictionStrike. “With PredictionStrike, we’ve taken a new approach to participating in sports and leveled up to encourage and inspire our users to learn and understand how to invest. We’re committed to finding new ways to connect fans with athletes and building a platform where sports fans can invest in what they know”.

The company’s business model is based on charging fees and subscriptions. PredictionStrike charges a 2.5% fee on all trades, which is paid by the buyer or seller of the shares. Users also subscribe to receive lower transaction fees and gain access to other perks, such as the ability to trade more shares and participate in more contests.

PredictionStrike has seen rapid growth since its launch in 2021. It has over 100,000 users and has processed over $15 million in transactions.

by Tony O. Lawson

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2 mins read

FVLCRUM Closes $302 Million Fund to Address Racial Wealth Gap

FVLCRUM Partners, a prominent lower middle market buyout firm dedicated to tackling the U.S. racial wealth gap, proudly announces the successful final closing of FVLCRUM Fund LP, alongside its affiliated sister fund entities.

The Fund has not only surpassed its initial target but has also garnered significant attention, raising over $302 million in aggregate commitments, well beyond the anticipated $250 million. The accomplishment reflects the firm’s unwavering commitment to bridging the wealth gap and fostering positive societal change.

Comprising a diverse range of investors, including institutions like banks, consultants, endowments, insurance firms, fund of funds, public pension plans, and high-net-worth individuals, the Fund’s broad investor base underscores the widespread recognition of the critical need to address the racial wealth gap in the United States.

Chijioke Asomugha, Partner at FVLCRUM, remarks, “The market’s response to FVLCRUM underscores the potential of aligning impact and alpha in driving remarkable outcomes. We take great satisfaction in the success of our fundraising campaign and remain committed to maintaining the same level of dedication as we move forward with our investment and impact-oriented strategy.” Ben Carson Jr., Partner at FVLCRUM, echoes this sentiment, stating, “Our achievement in securing funds reinforces our resolve to concentrate our efforts on executing our investment and impact strategy.”

Yves M. Mombeleur, Chief Operations Officer for Clearinghouse CDFI and Managing Director of Impact for FVLCRUM, adds, “The innovative structure and meaningful impact of FVLCRUM are genuinely exciting. By aligning impact and investments, we aspire to reshape the landscape of private equity.”

The Fund’s primary focus will be on acquiring control equity in diverse, scalable companies that demonstrate substantial growth potential and sustainable competitive advantages. The sectors targeted by the fund include government contracting, healthcare, and technology-enabled business services, all of which are areas in which the FVLCRUM team boasts extensive investment expertise.

by Tony O. Lawson

➡️Interested in investing in Black founders? If so, please complete this brief form.

 

1 min read

Pioneering Inclusive Institutional Investing: A Conversation with JoAnn Price of Fairview Capital Partners

JoAnn Price is the co-founder and managing partner of Fairview Capital Partners, one of the largest minority-owned investment companies in the United States. Since its establishment, the company has amassed a remarkable aggregate fund capitalization exceeding $10 billion.

Fairview Capital Partners invests on behalf of institutional investors, including the world’s leading foundations, endowments, pension plans, and family offices.

Drawing from her extensive 30-year background in finance and investment, JoAnn Price has played an essential role in reshaping the landscape of diverse and emerging manager investing. Her visionary leadership has contributed significantly to Fairview Capital Partners’ ascent and its transformative impact on the industry.

In this conversation, we delve into JoAnn’s journey, from her early experiences that shaped her perspective to the pivotal moments that led to the inception of Fairview Capital Partners. Her insights into the power of diversity, equity, and inclusion in the investment sector offer a unique vantage point on how to foster meaningful change in an ever-evolving financial landscape.

by Tony O. Lawson

➡️Interested in investing in Black founders? If so, please complete this brief form.

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