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NAACP Announce today NAACP Capital, a $200 million fund to support fund managers who focus on issues affecting people of color.
The fund was created in partnership with Kapor Capital and the Kapor Centre, along with nine other venture fund managers. Last year, Crunchbase found that Black founders raised less than 1% of all venture capital funds and that the group raised 0.3% in the first half of this year.
A fund of funds is when an investor invests in multiple mutual funds, rather than making individual investments in funds, or even in startups. It’s a popular way for an impact investor to put their money as broadly as possible. Kapor is one venture capital firm that has always focused on investing in racial justice. But other big names have used a similar approach. For example, Melinda Gates’ Pivotal Ventures invests in women-led funds, as well as directly in startups.
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