Black-Led Venture Capital Fund Raised Over $ 55 Million

Startup companies, especially Black-led StartupLack of venture capital (VC) diversity can hinder access to funding. According to a VC Human Capital Survey conducted by Deloitte, the venture capital industry is one of the least diverse in finance. Let’s disassemble it. Nearly eight of the ten VC investment partners in 2020 were white, 15% were Asian, and only 3% were black. Therefore, successful capitalists need to change the playing field in order to invest exclusively in black-owned businesses.

Not all heroes wear cloaks, but they deserve recognition because they really need a village to help other blacks achieve a higher level of success.according to CNBC NewsMarcus Whitney, co-founder and pioneer of the Jumpstart Nova Fund, makes funding available to several black-led companies. He was inspired by the 2020 protests after George Floyd’s death after he felt a cultural shift from investors he had known for many years. Marcus has motivated investors as an opportunity to raise money to invest in black-led companies.

Marcus explained when talking to investors: I want to be part of that. But are there really enough deals? Marcus understood his mission and had no trouble finding a company to invest in him. Therefore, his business has invested exclusively in black-led medical companies.

The first investment in the Jumpstart Nova fund was Cellevolve. This is a company designed to allow these researchers to easily connect with biotechnology companies. In addition to the investment, Marcus has taken a seat on Cellevolve’s board of directors. The investment didn’t stop there. The Jumpstart Nova Fund is funded and has invested $ 55 million from backers such as Eli Lilly, HCA Healthcare and the Bank of America. We love to see how black people make it happen and care for each other!

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Black-Led Venture Capital Fund Raised Over $ 55 Million

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