TLDR:
- Angeles Ventures Fund I has closed an equity investment from Bank of America to support Hispanic and Latino ventures in the U.S.
- Bank of America invests equity in women and minority-led funds, committing over $550 million to date.
Angeles Ventures, a Latino and woman-led early-stage VC fund, announced an equity investment from Bank of America to accelerate its goal of finding, funding, and growing Hispanic and Latino ventures in the U.S. This investment is significant as Latinos account for over 20% of the U.S. population and are the most entrepreneurial group in the country, yet receive less than 2% of venture capital funding. The fund, led by two Latino General Partners, has already made investments in several startups and is focused on tech-enabled B2B and B2C companies based in the U.S.
Bank of America’s commitment to investing in women and minority-led funds aligns with Angeles Ventures’ mission to bridge the funding gap for Hispanic and Latino founders. The bank has committed over $550 million to these types of funds, more than doubling its initial $200 million commitment. This partnership aims to drive economic opportunity in diverse communities and support entrepreneurs from different backgrounds.
