Project Pink'd, an organization that supports people who have been diagnosed with breast cancer, hosted its second annual Dig Deep 4 Pink volleyball tournament on Saturday.
New $100 Million Fund To Assist Early Stage Black Founders Being Launched By Clearbanc
Xiomara Rosa-Tedla, founder and co-owner of UnoEth
A new $100 million angel fund is being launched for Black Americans and other early-stage founders as an alternative way to secure financing. Clearbanc, which calls itself the world’s largest e-commerce investor, announced it will offer the funding through a new fund called ClearAngel.
Targeting entrepreneurs with strong growth potential, the firm uses AI (artificial intelligence) to determine funding terms and a revenue-share repayment option among ways to provide founders capital access to help grow their firms.
With the launch, Clearbanc aims to invest the $100 million across 5,000 companies within the next two years. It aims to invest $10,000 to 50,000 in exchange for 2% of a company’s revenue over four years.