Silicon Valley venture capital seed fund & startup accelerator, 500Startups, has announced that it will be raising a $25 million micro-fund to carry out early stage investments in Black and Latino founders.
Venture capital firm to invest $25 million in Black and Latino businesses
The fund will be invested in 100 companies founded by Blacks and Latinos, with the aim of helping them get access to capital, networks, and expertise that they need to grow their businesses.
500Startups
The VC company, founded by former PayPal & Google alumni, has invested in about 1,400 companies in more than 50 countries around the world.
The fund will be invested in 100 companies founded by Blacks and Latinos, with the aim of helping them get access to capital, networks, and expertise that they need to grow their businesses. Monique Woodard, Venture Partner at 500Startups and co-founder of Black Founders, will lead the fund.
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The VC will also be coming to Africa via its Geeks on a Plane (GOAP) trip. This will be the first trip to Sub-Saharan Africa and will include stops in Nigeria, Ghana, and South Africa.
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