The NAACP introduced immediately NAACP Capital, a $200 million fund of funds to again fund managers targeted on points that influence folks of colour.
The fund was conceived in partnership with Kapor Capital and Kapor Heart, together with 9 different enterprise fund managers. Final 12 months, Crunchbase discovered that Black founders raised lower than 1% of all enterprise capital funds and that the group has raised 0.3% within the first half of this 12 months.
A fund of funds is when an investor invests in a number of enterprise funds, relatively than making particular person investments in funds, and even in startups. It’s a preferred manner for an influential investor to place their cash to the broadest doable use. Kapor is a VC agency that has at all times been targeted on racial justice investing. However different large names have used the same method. Melinda Gates’ Pivotal Ventures, for example, invests in women-led funds, in addition to straight in startups.