Early-stage investor Black Seed wants to help create the Black Silicon Valley. It just raised $6.25 million to do just that.
Lutterodt dropped out of the University of Texas to found a robotics startup previously but was rejected for funding in the UK for a different business despite going through 10 accelerators and more than 100 VC pitches.
Black Seed will look to invest in around 10 companies a year as part of a rolling cohort of startups with portfolio companies able to get six months of free office space at the fund's sites. The fund's first close was led by asset manager M&G Catalyst, with additional investment from venture capital firms Atomico, LocalGlobe, Molten Ventures, and WestRiver Group.
The fund has been in development for a number of years with Black Seed having originally been in discussions with a single LP before opting to diversify its backers. This first close of $6.25 million is lower than the £10 million , who said that putting their flag in the ground was the most important thing for now. Black Seed has indicated that intends to raise the full amount.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Jennifer Lawrence Goes Sheer in Black Dior Dress for ‘No Hard Feelings’ Premiere in LondonJennifer Lawrence arrived on the red carpet for the premiere of her new film, “No Hard Feelings,” on Monday in London, wearing all black.
Les mer »
How To Protect Your Seed Phrase | CoinMarketCapThere is no one-size-fits-all solution to keeping your Seed Phrase safe. But there are several options, at least one of which should suit your personal security needs. 😉 Stay SAFU!
Les mer »
Oral Roberts claims surprise College World Series bid; Wake Forest, LSU, Virginia also win supersNo. 1 national seed Wake Forest was expected to make it to the College World Series.
Les mer »
Scammers find success with bank fraud texts, FTC warnsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Les mer »
P.F. Chang's CEO reveals why he wakes at 4:30 a.m. daily to work outInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Les mer »
Nike expands deals with some retailers amid DTC shift in strategyNike is mending relationships with retailers as more brands recognize the constraints of direct-to-consumer models
Les mer »