Our continued investment in Black founders and fundersOur continued investment in Black founders and fundersHead of Google for Startups U.S.General Counsel

Investing in more Black-led venture capital funds

A historic scarcity of Black investors has contributed to the sparse funding levels among Black founders. Black investors are more likely to have Black founders in their networks and more likely to empathize with business models serving Black communities. By supporting Black funders we’re able to increase both our reach and impact.

In 2020, Alphabet committed $100 million to invest in Black-led venture capital firms, startups and organizations supporting Black entrepreneurs. Last year, our Alphabet-wide team led by leaders across CapitalG, GV and Google allocated $60 million in capital to six Black-led venture capital firms, as well as Black-owed startups and nonprofit organizations supporting Black entrepreneurship and business. In addition to capital, these investors received training, technology and advisory sessions from experts across Alphabet and Google. Today, we’re sharing the news that we’ve deployed the remaining capital to a number of nonprofit organizations and the following Black-led venture firms:

  • Black Tech Nation Ventures: a Pittsburgh-based technology venture fund that is majority Black-owned and majority diverse-invested and focused on wealth creation for untapped markets and underinvested entrepreneurs.
  • Collide Capital: a Los Angeles and New York-based 100% Black-owned VC firm aiming to usher in a new era of venture capital where opportunities go to the most deserving, not the most privileged. Building off of the success of their top-quartile Fund Zero of 34 companies, the Collide Capital team has closed a Fund I to invest in founders with the lived experiences, courage, and grit to create solutions for the next generation.
  • Concrete Rose: a Bay Area-based investment fund focused on using financial and social capital to build exceptional early-stage companies and close gaps for underrepresented talent. Concrete Rose also received funding during the previous capital allocation announced last year.
  • Heirloom Capital Partners: an Atlanta-based investment fund founded by founder-operator and board director Tristan Walker. Heirloom aims to partner with the founders of disruptive, meaningful companies committed to developing culturally connected products and services that improve lives and serve the needs of people of color.
  • Serena Ventures: a San Francisco-based investment firm that champions founders whose perspectives and innovations level the playing field for all types of entrepreneurs. Serena Ventures invests in products and ideas that unlock value for investors, doors for founders and opportunities for everyone to live better.
  • Share Ventures: a Los Angeles-based investment fund focused on performance management. Share Ventures is a venture studio building the infrastructure to repeatedly discover, validate, and scale new companies.
  • Zeal Capital Partners: headquartered in Washington, DC, Zeal serves as a category-specific early-stage investment franchise that partners with exceptional, diverse management teams. Leveraging their market-backed investment discipline coined “Inclusive Investing,” they invest in financial technology and future of work startups that use technology to narrow the wealth and skills gaps.

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