Dealflow | March 15, 2022

Black Founders Matter raises $3 million to establish ‘Black as an investment vertical’

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, March 15 — Portland, Ore.-based Black Founders Matter has backed 10 companies, including HUED, a Black woman-led startup matching Black and Latinx patients with similar providers for culturally sensitive health care.

The fund is looking to raise $10 million to write checks of $100,000 or more to early-stage companies led by Black founders.

Black Founders Matter sources deals from startup accelerators, competitions, fund networks and universities.

“Black is the new vertical,” said Black Founders Matter’s Marceau Michel. “The entire emphasis of our fund is about creating accessible venture capital for Black entrepreneurs and diverse innovative problem solvers.”