TLDR:
BTN.vc has secured a $50 million fund to empower black and diverse entrepreneurs in the tech industry. Founded by Kelauni Jasmyn, David Motley, and Seán Sebastian, the fund aims to support underrepresented founders and drive diversity and innovation in the tech sector.
Article Summary:
Black Tech Nation Ventures (BTN.vc) has raised a $50 million fund to foster diversity in tech by investing in black and diverse entrepreneurs. Founded by Kelauni Jasmyn, David Motley, and Seán Sebastian, BTN.vc aims to change the face of venture capital by supporting underrepresented founders. The fund has already invested in 10 early-stage companies across various sectors, including fintech, healthtech, and AI, with backing from industry giants like Alphabet, Bank of America, and Mark Cuban. BTN.vc not only provides financial support but also offers strategic guidance to help portfolio companies scale up. By planning to invest in another 20 to 30 companies, BTN.vc is set to amplify its impact and drive innovation and diversity in the tech sector even further. Despite challenges in the market, BTN.vc’s achievement of its $50 million funding goal underscores the importance of its mission to create a more inclusive tech ecosystem where diverse ideas and talents can thrive. As the venture capital landscape evolves, BTN.vc remains at the forefront, championing a future where diversity is a reality.
