Collab Capital is an Atlanta-based investment firm on a mission to establish an institution that provides a viable pathway to sustained wealth for the Black community.
In 2018, the firm launched with $2 million in capital, a $50 million target, and a mission to focus on investing in Black founders specifically.
Despite being told that their focus on Black founders was too narow and that there aren’t enough qualified Black founders to back, Collab Capital perservered and today announced that they have now raised over $50M to invest in the best Black led early stage startups over the next few years.
Backers include Apple, Goldman Sachs, Google, The Andrew W. Mellon Foundation, Mailchimp and PayPal, making it one of the largest funds closed from an entirely Black-led firm solely committed to Black founders.
The firm will invest in 50 startups across the US over the next 3–5 years. The majority of the investments will fund companies in cities like Atlanta, DC, Houston, Detroit, St. Louis, and New Orleans, which have a high concentration of Black entrepreneurs and a low concentration of risk capital.
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The post Collab Capital Raises $50 Million To Invest In Black Founders appeared first on SHOPPE BLACK.
