Arlan Hamilton has announced changes at Backstage Capital, and will move into an advisory role

Backstage Capital founder Arlan Hamilton announced Friday that her role at the company she started in 2015 will evolve.

“After 12 years of deep involvement in day-to-day operations, I have decided to move into a president and consulting position.” she wrote in a statement released online. She was previously a managing partner at the firm. “This move will allow me to focus on what I do best — amplifying Backstage’s mission, hosting office hours with founders and investors, chairing the advisory board, and bringing new opportunities to the table through my platform.”

She also wrote that the company will enter into a strategic partnership with 360 Venture Collective, which will “acquire a significant stake in the Backstage management entity” and join co-management operators, provide capital, and help scale the company.

“Together we will launch a $200 million fund in 2025,” Hamilton said.

We have reached out to Hamilton and Backstage Capital for comment.

Backstage Capital has weathered some stormy winds in the past few years. The company has invested in more than 200 companies, according to Pitchbook, including fintech company Guava and information platform Career Karma. It has about $20 million in assets under management, with 56 exits. But we reported back in 2022 that even then there appears to be a slowdown in the company. It announced at the time that it would only support existing portfolio companies, and that it would significantly reduce the size of its team from 12 to three people.

Hamilton also noted on her podcast at the time that she was frustrated with limited partners, saying the firm found itself in a “purgatory situation,” because some investors thought it already had enough support, even though that wasn’t the case. The landscape for companies like Backstage and for founders like the ones they support has become more fraught since 2022. Funding and support for diverse founders and operators has dried up somewhat, especially for Black founders.

The company’s partnership with 360 Ventures will ensure the company remains sustainable “while doubling our ability to support underappreciated founders and create a lasting legacy,” Hamilton wrote in her online statement.

“I am confident that this next chapter will take us to amazing heights and I am honored to continue being part of the journey in this new capacity.”