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Community briefs: Sister City Affiliation fundraiser, new Assistant City Manager and Saint Francis High School unveils innovation center

This week in community briefs, the Sister City Affiliation hosts a fundraiser to support its exchange program, Mountain View appoints a new assistant city manager and Saint Francis High School unveils a new innovation center. ....

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Valence Launches 'Each One, Reach One' Movement to Advance Black Leadership in Business During Black History Month

/PRNewswire/ Valence, the leading platform connecting and empowering Black professionals, today announced the launch of the Each One, Reach One movement to. ....

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BLCK VC Launches Scout Program With Lightspeed, Sequoia To Support More Black Investors

BLCK VC Launches Scout Program With Lightspeed, Sequoia To Support More Black Investors
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BLCK VC members including co-founders Frederik Groce and the scout program s mastermind, Sydney Sykes, at center.
BLCK VC
For all the high-speed growth and innovation that venture capital is supposed to fuel, the industry itself isn’t structured for quick change. BLCK VC co-founder Sydney Sykes knows it first-hand. Since last summer, firms have reached out to Sykes for advice on changes they can make fast.
Increasingly, her answer has been a program growing in popularity in VC: the scout. “Firms will hire a partner once or twice a year max, or an investment professional. But scout programs can be as large as you want,” Sykes says. “This seems like a really obvious solution to get more dollars in the hands of Black investors.” ....

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VC firms with SPACs are eyeing startups they're invested in

Venture capital firms are forming blank-check companies at a torrid pace.
They have the potential to buy startups they re already invested in, in order to take them public.
It s not illegal to buy companies where they have an interest, but it raises a potential conflict.
These days, more venture capital firms are either forming their own special purpose acquisition companies, or SPACs, or having internal conversations about doing so. A
SPAC
would let them launch a startup onto the public markets, even one from their own portfolios.
Peter Hébert, a founding partner at Lux Capital, whose SPAC started trading on the stock market last fall, said he s had at least 60 phone calls with venture capitalists who are asking if they should jump on the trend. ....

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Detailed text transcripts for TV channel - MSNBC - 20170304:19:56:00

Disappearing messages app, snapchat. after it went public on the stock exchange, shares soared. making instant millionaires out of investors, and billionaires out of its founders. but arguably the most surprising score it s crazy. reporter: was raked in right here at this high school. it s an amazing and transformational opportunity for the school. reporter: way back in 20212 during the early days of snapchat, private catholic silicon valley school st. francis high used an old venture fund to invest in snap. today after immediately selling off two-third of its sharing their $15,000 drop in the bucket is now a pot of gold worth $24 million. it s crazy. it s such a silicon valley thing to do. i think, you know, right now st. francis may be the coolest high school in the united states, though. reporter: and this guy, a dad, barry eggers, is the reason why. eggers a venture capitalist, was on the board of his kids high school growth fund and made the suggestion to invest ....

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