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Search resuls for: "Black VCs"


6 mentions found


☆ The odds of no interest-rate cuts in 2024 are growing
  + stars: | 2024-02-20 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today’s big story, we’re looking at the chances of there being no rate cuts this year, and how the markets would react. What's on deck:This story is available exclusively to Business Insider subscribers. The big storyCuts are canceledAaron Schwartz/Xinhua via Getty ImagesDon't count your chickens before they hatch and don't price in your rate cuts before they materialize. Last December, Fed Chair Jerome Powell signaled that three cuts were on the table for 2024, which he reiterated earlier this month. AdvertisementBonds could struggle, though, with further delays on rate cuts raising the risk that debt markets suffer another meltdown like they did last fall.
Persons: —, Mark Zuckerberg, Aaron Schwartz, ”, won’t, Jerome Powell, Phil Rosen, There's, BI’s Yuheng Zhan, NYCB’s, Ark's Cathie Wood, Paul Judge, Tessa Flippin, Claude Grunitzky, Gayle Jennings O'Byrne, Black VCs, Masayoshi Son, OpenAI’s, Jenny Chang, Rodriguez, Vladimir Putin, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, UFC, Business, Xinhua, Getty, Federal, Paramount, Fed, Big Tech, JPMorgan Private Bank, Discover, Discover Financial, Nvidia, Opportunity, Equity Alliance, Wocstar Fund, Opportunity Fund, Equity Alliance Wocstar, Google, Walmart, Pandora, Home Locations: Japan, Ukraine, Moscow, Russia, Fox, New York, London, Chicago
☆ There's a brewing backlash against DEI in corporate America — and a venture capital fund getting sued for racial bias is now caught in the middle
  + stars: | 2023-08-11 | by ( Vishal Persaud | ) www.businessinsider.com   time to read: +6 min
VC firm Fearless Fund is being sued by the group behind the Supreme Court affirmative action case. The conservative group claims a grant program run by Fearless Fund is racially discriminatory. It also led some companies like Bank of America, Mastercard , PayPal and others to earmark millions of dollars to fund and address the racial funding gap. A small, Atlanta-based, Black women-led venture firm called Fearless Fund was one of them. "Their motive is clear: they want to disrupt the vital work of Fearless Fund and similar institutions and organizations whose primary mission is to provide underrepresented communities with an economic engine to build, sustain and scale their businesses," said Fearless Fund in a press release.
Persons: George Floyd, Edward Blum, Arian Simone, Ayana Parsons, George Floyd's, Eghosa Omoigui, Yasmin Cruz Ferrine, Ferrine, VCs Organizations: Fearless, Morning, Bank of America, Mastercard, PayPal, American Alliance for Equal Rights, Civil, Costco, MasterCard, Street Journal, Netflix, Disney, Warner Bros, Wall Street Journal, Pew Research Center, Microsoft, Walmart, TechCrunch Locations: Minneapolis, Atlanta, America
☆ A backlash is brewing against DEI in corporate America — and a venture-capital fund facing a racial-bias lawsuit is caught in the middle
  + stars: | 2023-08-11 | by ( Vishal Persaud | ) www.businessinsider.com   time to read: +6 min
VC firm Fearless Fund is being sued by the group behind the Supreme Court affirmative action case. The conservative group claims a grant program run by Fearless Fund is racially discriminatory. It also led some companies like Bank of America, Mastercard , PayPal and others to earmark millions of dollars to fund and address the racial funding gap. A small, Atlanta-based, Black women-led venture firm called Fearless Fund was one of them. "Their motive is clear: they want to disrupt the vital work of Fearless Fund and similar institutions and organizations whose primary mission is to provide underrepresented communities with an economic engine to build, sustain and scale their businesses," said Fearless Fund in a press release.
Persons: George Floyd, Edward Blum, Arian Simone, Ayana Parsons, George Floyd's, Eghosa Omoigui, Yasmin Cruz Ferrine, Ferrine, VCs Organizations: Fearless, Morning, Bank of America, Mastercard, PayPal, American Alliance for Equal Rights, Civil, Costco, MasterCard, Street Journal, Netflix, Disney, Warner Bros, Wall Street Journal, Pew Research Center, Microsoft, Walmart, TechCrunch, Warner Bros . Locations: Minneapolis, Atlanta, America
☆ Goldman Sachs pitching wealth clients on investing in Stripe shows how Wall Street drums up exclusive deals for its richest customers
  + stars: | 2023-02-27 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
To that point, Insider's Hayley Cuccinello has a story on how Goldman Sachs offered its richest clients the opportunity to invest in the buzzy fintech Stripe. If I can take the startup client my investment bankers are working with and leverage my wealth clients to help them fundraise, that's a win-win. Even better if the cofounders and employees of said startup turn around and come back to me as wealth clients once I help them get rich. More broadly, this is also just another example of how banks are always finding ways to cater to their rich clients. Click here to read more about how Wall Street is leveraging clients in its investment bank for its wealth business*(OK, I couldn't help myself.
☆ Mark Zuckerberg and Elon Musk have been publicly criticizing each other for years — but now Meta is mirroring Twitter
  + stars: | 2023-02-25 | by ( Hallam Bullock | ) www.businessinsider.com   time to read: +4 min
With the launch of Meta Verified, Mark Zuckerberg is appearing more like Elon Musk by the day. Now, let's look at why people are starting to say that Zuckerberg "idolizes Elon Musk." With the announcement of Meta Verified, Meta's new verification subscription service for Facebook and Instagram, many have drawn comparisons between Mark Zuckerberg and Elon Musk. Schilsky added: "I think it's clear that Mark Zuckerberg idolizes Elon Musk." Black VCs like Beta Boom's Kimmy Paluch are addressing long-standing diversity, equity, and inclusion issues in the industry head-on.
☆ 51 Black investors changing the VC industry with firms dedicated to funding diverse startup founders
  + stars: | 2023-02-22 | by ( Vishal Persaud | April Joyner | ) www.businessinsider.com   time to read: +2 min
Funding to Black VCs rose to $3.4 billion in 2022 from $2.3 billion in 2021, new data reveals. Yet, that's 2.1% of the record $162.6 billion the US venture industry raised in 2022, data shows. These Black VCs hope to change the industry by investing in more underrepresented startup founders. Venture funding to Black investors bounced back in 2022 after a precipitous dip the year before. Do you know of other Black VCs who started or lead funds to back underrepresented founders?
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