Venture Capital: Black Founders Raised Four Times More Capital In The First Half This Year

venture capital black founders raised four times more capital in the first half this year

Sumary of Venture Capital: Black Founders Raised Four Times More Capital In The First Half This Year:

  • Venture Capital: Black Founders Raised Four Times More Capital In The First Half This Year The George Floyd killing spurred the flow of funds towards Black entrepreneurs.
  • According to a Crunchbase report, Black startup founders raised a record $1.8 billion of capital in the first six months of this year.
  • His company offers low-cost online legal services to individuals and small businesses and raised $223 million earlier this year.
  • In June 2020, Softbank Group set up a $100 million fund earmarked for diverse founders, with corporations such as PayPal (NASDAQ: PYPL) and and eBay (NASDAQ: EBAY) also coming forth with commitments for funding Black entrepreneurs.
  • Another factor – VC firms found they were sitting on dry powder without enough founders;
  • Funding deals could be struck on Zoom calls or in Clubhouse, a boon for founders on shoestring budgets and unable to travel to the VC’s office.

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