Polls

Do you think it is time for Black Americans to give up on the Democratic party?

View Results

Loading ... Loading ...
Small Biz Resources Venture Capital
by Crebul News Team

PayPal to Invest $50M Into Black and Latinx Venture Capital Firms

October 29, 2020
0
Share

While protests were still at their peak in June, PayPal pledged $530m to support black owned and latinx small businesses. $50m of that is going to eight black and latinx venture capital firms. The firms include Chingona Ventures, Fearless Fund, Harlem Capital, Precursor, Slauson & Co., Vamos Ventures, Zeal Capital Partners and one other fund that has yet to be named. More than 60 VC  firms were interviewed to receive the grants from PayPal.

Dan Schulman, PayPal’s CEO said ““So little venture money goes into minority communities. This is a way to think about how we start to create wealth creation.” And this it does as the money received by PayPal will help the selected firms to become top investors almost instantaneously.

Original Article: The New York Times

Image Credit: Dan Schulman, the PayPal CEO. Credit Larry Busacca/Getty Images for Kiva

Related Posts

Jackson Ward Collective Helps To Close the Support Gap for Black Businesses

October 31, 2020
0

Generally, for black entrepreneurs they do not have a lawyer or accountant in the family they can turn to for assistance when starting a business. They build things from the ground up on their own with little to no support. Three Black women in Richmond, VA – Rasheeda Creighton, Kelli Lemon, and Melody Short – are looking to change that with the Jackson Ward Collective.

The company was started in September and helps its 150 members with services based on the business’ needs. While older, more established businesses receive more long-term goal-oriented assistance, newer business receive assistance with learning how to successful operate a business.

“It’s all a part of the secret sauce,” Short said.

“We believe we can make that connection point to each other and use resources that can help us learn, grow and own in the Black community,” Creighton said.

For more information, check out their website

Original Article: Richmond Times-Dispatch

Image Credit: Founding members of the Jackson Ward Collective, from left, Rasheeda Creighton, Kelli Lemon, and Melody Short, stand in front of one of the murals in the Jackson ward section of Richmond, va Tuesday, October 20, 2020. The Jackson Ward Collective is a new black-centered business organization that aims to help black business owners.

BOB BROWN/TIMES-DISPATCH

Leave a Reply

Your email address will not be published. Required fields are marked *