SeedInvest to Supply Black Capital Fund Managed by Former Sacramento Mayor and NBA Participant Kevin Johnson
SeedInvest is introducing a brand new funding automobile – the Black Capital Fund.
The brand new fund is on a mission to extend entry and construct wealth for the African American neighborhood. SeedInvest states:
“Early-stage enterprise capital represents a doubtlessly engaging asset class, having returned 14.1% in comparison with 6.3% for the S&P 500 over the past 20 years, however traditionally has solely been obtainable to only 2% of the U.S. inhabitants.”
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The Fund is split into two elements. The primary is the Black Capital Entry with a $1000 minimal funding quantity. The second is for the Black Capital Fund that solely caters to accredited traders – people with a internet price of at the very least $1 million (not counting your main residence) or an annual wage of over $200,000 (if you’re married this quantity jumps to $300,000).
The Black Capital Entry permits particular person traders to simply construct a diversified portfolio of as much as 25 startups with funding minimums as little as $200. The Black Capital Fund is extra alongside the traces of a standard VC fund.
Of observe, is that Kevin Johnson is partnering on the Fund and would be the Basic Associate. Johnson presently serves as CEO of Seven Ventures, an funding group he based. Previous to his function with Seven, Ventures, Johnson served because the Mayor of Sacramento for 2 phrases, and earlier than that was an NBA All-Star for the Phoenix Suns.
The objective is to advertise financial empowerment for the African American neighborhood by offering entry to extremely vetted early-stage ventures.
SeedInvest has posted a web page with extra data if you’re .
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