51 Black investors changing the VC industry with firms dedicated to funding diverse startup founders
Career Karma, CareAcademy, Mahmee, Goodr, MayvennWhy she's on the list:, Hamilton needed more than three years to get the first $25,000 check to start her firm, Backstage Capital. The former production coordinator for artists like Toni Braxton and Jason Derulo was inspired to become a VC because she saw the lack of investing dollars to underrepresented entrepreneurs, Hamilton said.
Despite her successful career, there was an unfortunate reality that never went away: meaningful investment in women-of-color entrepreneurs. Soon after, she started Wocstar Capital to fill that gap and make a dent in the funding disparity omnipresent in venture capital. Pre-seed to seed business-to-business, software-as-a-service companies that can"scale horizontally across industries, while using product-led strategies."With the help of a team of advisors and partners, Mobley and King launched Plain Sight Capital in early 2021. Mobley felt the firm could bring more equity to the venture-capital industry by putting underrepresented people in more influential positions where they control the flow of capital, he said.
Lee had a prolific investing career before starting Authentic Ventures. He managed a family office in which he built a seed and early-stage portfolio, which included companies like AppLovin and GuardantHealth. By 2010, Omoigui said that he felt like he had paid his dues and wanted to chart his own course, deciding to leave Intel Capital. Soon after, EchoVC was born. After his firm launched, Omoigui said he realized he was drawn to invest in"underdog founders that the market seemed to consistently underestimate," now known as underrepresented founders. Over a decade later, EchoVC is closing in on 65 portfolio companies. Omoigui said the firm is currently raising a second $75 million fund.
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