How did Atlanta become a top breeding ground for billion-dollar startups in the Southeast?
Over the past five years, the Southeastern region, led by Atlanta, has gone from being “one of the best kept secrets” in tech, to a vibrant ecosystem teeming with a herd of the billion dollar tech businesses that are referred to in the investment world as “unicorns” (thanks to their supposed rarity).
In those five years venture capital investments surged to $2.1 billion in the region, with $1 billion invested in the last year alone, according to Lisa Calhoun, a partner with the Atlanta based investment firm, Valor Ventures.
Fearless Fund co-founders, Ayana Parson (standing) and Arian Simone (seated). (Photo credit: Fearless Fund
THE WESTSIDE GAZETTE (Source: www.blackpressusa.com) – The investment marks FAMU’s first in a Black-led VC firm and will be utilized by the Fearless Fund to grow its ever-expanding portfolio of women of color-led businesses seeking pre-seed, seed level or series A financing. With this announcement, the University joins other major businesses who recently invested in Fearless Fund, including Paypal, Bank of America, Invest Atlanta, and Costco.
TALLAHASSEE, FL Florida A&M University Foundation today announces its investment in the $25 million
Fearless Fund, the first venture capital (VC) fund built by women of color, for women of color, and led by two FAMU alumnae, Arian Simone and Ayana Parsons.
The credit card giant also unveiled a partnership with Greenwood, a fintech firm aimed at Black and Latino consumers and business owners, to issue the platform s first debit cards. This is part of our broader work on financial inclusion, Mastercard president of strategic growth Michael Froman told CNBC. We want to bring all the assets of the company to the table, to engage with them, help them succeed, help them get to scale.
Fearless Fund looks to provide early financing to companies started by women of color in the technology, consumer packaged goods, food, fashion and beauty industries.
The three co-founders of Fearless Fund are chief development officer Keshia Knight-Pulliam, who played Rudy Huxtable on the Cosby Show; CEO Arian Simone, an entrepreneur and best-selling author; and COO Ayana Parsons, a veteran consultant.
Mastercard pledges millions to aid Black businesswomen with Fearless Fund
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“This is part of our broader work on financial inclusion,” Mastercard executive Michael Froman said Tuesday. File Photo by Bill Greenblatt/UPI | License Photo
April 20 (UPI) Mastercard announced on Tuesday that it plans to spend millions to help Black American businesswomen with the Fearless Fund, a venture capital project built by women of color.
The Fearless Fund provides financing to companies started by women of color. Other investors in the fund include Bank of America and PayPal.
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The investment announced on Tuesday is part of the company s ongoing efforts to aid businesspersons of color. Last year, Mastercard launched a half-billion-dollar initiative to support Black communities in the United States.
Mastercard Continues Support For Black Women Entrepreneurs
HARRISON (dpa-AFX) - Mastercard is continuing its support for black women entrepreneurs with a multi-million dollar investment in a venture capital firm built by women of color for women of color. The payments company will invest in VC firm Fearless Fund as part of its Strivers Initiative that reinforces commitment to black women-owned businesses across the U.S.
Strivers Initiative is a consumer-facing platform that elevates the visibility of Black female business owners overcoming obstacles to maintain and grow their business, as role models for the community and future generations. Mastercard announced the Strivers Initiative in mid-February.