[ad_1]
BBG Ventures has raised a new $60 million fund to support founders from “diverse backgrounds,” including gender, race, age and class. Business Insider reported.
The company is known for exclusively supporting female founders, and this new fund represents a slight departure from that focus but comes as funding for diverse founders continues to decline. Crunchbase found that Black founders, for example, received just 0.3% of total capital raised in the first half of this year, continuing a downward trend that shows no signs of reversing, Crunchbase’s chief data reporter, Jenny Terry, told me. .
Nisha Dua, co-founder of BBG Ventures, told Business Insider that returning limited partners have increased their financial commitments to this fund and that new limited partners include Melinda French Gates’ Pivotal Ventures, Fairview Capital, and Fairview Capital. BBG’s latest fund will focus on diverse founders working in healthcare, fintech, and artificial intelligence.
[ad_2]