Earlier this year we closed a $112M Fund III, bringing our total AUM to $177M. With this fund, we’ll invest in 30 new companies at stages Seed through Series A.
We are proud of our growth as a 100% Black female owned firm. We’re prouder still of the founders and teams that we back. They’re working to build massively profitable and purposeful companies that can uplift Black and Brown workers, families, and small businesses across the US. Their courage, rigor, and empathy drives us forward.
We wrote a much longer announcement for our $55M Fund II and invested considerable effort into securing a headline. Brand-building is a well-worn groove in the business of venture and we are not above it — we know our website could use an upgrade. But, as the venture market contracts and the needs of low and moderate income communities across the country grow, we're prioritizing portfolio support, and the research and conversations needed to make smart new targeted investments.
We believe that venture capital can help advance economic justice and we’re intent on partnering with the people and institutions who share that view. Our sincere thanks to the diverse base of Limited Partners joining our third fund. This includes: anchor partners MassMutual, Health Forward, Cambridge Associates, Pivotal Ventures, and the W.K. Kellogg Foundation; new champions Deutsche Bank, the Marguerite Casey Foundation, and funds advised by Goldman Sachs Asset Management; and returning foundation partners, the Ford Foundation, the John D. and Catherine T. MacArthur Foundation, and the California Wellness Foundation.
In community, Kesha, Brittany, Kaiton, Melissa, & Yui The Impact America Fund Team