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Ten Leading VCs Team Up On A $50 Million Fund To Back Underrepresented Investors


Ten Leading VCs Team Up On A $50 Million Fund To Back Underrepresented Investors
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Screendoor s 10 founders teamed up across VC firms to launch a fund-of-funds to back emerging fund managers from underrepresented backgrounds.
Screendoor
Would-be venture capitalists looking to raise a fund for the first time often face a chicken-and-egg problem: to raise money, they’re expected to demonstrate a track record of promising startup investments; to build such a portfolio, they need to raise money.
It’s a challenge felt even more by emerging fund managers from underrepresented backgrounds, say Homebrew partners Satya Patel and Hunter Walk. “What we heard over the last few years as we got approached by new managers hoping to raise funds was that were plenty of opportunities for them to get counsel or mentorship, but what they really needed was capital,” Patel says. ....

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Why Black-Led Venture Firms Aren't Saving Black-Owned Businesses


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Black founders often face disparity and discrimination as leaders in the venture capital industry.
As some Black founders find success adjacent to wealthy white men, they may become less inclined to help Black businesses.
This article originally appeared on The Plug, a news and information platform examining the Black innovation economy.
One of the earliest documented Black-owned and operated venture capital firms, Syncom Venture Partners, set up shop in 1977. Headquartered in Silver Spring, Maryland, the firm is responsible for some of the earliest investments made in well-known formerly Black-owned telecommunications and media companies, including Black Entertainment Television (BET) and RadioOne Interactive.  ....

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