The fund addresses the critical issue of underfunding for Black founders, who raised less than 1% of all venture capital funds last year.
Company Description
NAACP Capital is a $200 million fund of funds designed to back fund managers who focus on issues that impact people of color. The fund aims to address the significant funding gap faced by Black founders in the venture capital landscape.
Market
Investment in funds focused on issues impacting people of color
Location
United States
Coinvestors
Kapor Capital, Kapor Center, nine other venture fund managers