💪🏾 Black ownership economy. Black-owned businesses surged 14% during the pandemic. Even at that growth rate, it will take 80 years to reach parity with the Black share of the population as a whole. A new report calls on community developers, investors, and Black entrepreneurs to acquire, merge, and expand existing Black businesses. (Brookings Institution)
The Week's Dealflow
Deal spotlight: 'Deep tech’ impact investing in India. Pure EV, an electric motorbike maker based near Hyderabad, is the latest Indian EV startup to close an equity round. But there's more to impact tech in India than just EVs. The country is emerging as a hub for deep science tech startups working on breakthrough solutions in climate change, food security and other global challenges. Capital flows to India's deep tech ventures surpassed $1 billion over the past three years and are on pace to reach $10 billion in the next five, according to a new report from impact tech investor Ankur Capital that includes the chart above. Growth capital and corporate backing is needed to scale locally-developed solutions. “The entire Indian deep science tech ecosystem is at an inflection point,” according to Ankur. Watch David Bank’s interview with Ankur co-founder Rema Subramanian.
The Week's Talent and Jobs
Keyur Patel, previously with PSG Equity, joined Boston Impact Initiative as portfolio manager… Halcyon Venture Partners promoted Dahna Goldstein to co-founder and managing partner… Shannon Mullins, a former sustainability and climate change manager at Deloitte, joined The Predistribution Initiative as head of special projects… Ilona Limonta-Volkova, previously with Conrad N. Hilton Foundation, joined TruStage Ventures as an investor… UBS Wealth Management’s Santi Miller has been seconded to Ownership Works through October… Wanjiru Kamau-Rutenberg, previously an executive in residence at Schmidt Futures, joined Ford Foundation as a senior fellow.
Editor’s note: This guest post is sponsored by Impact Ventures by J&J Foundation, which supports ImpactAlpha’s Investing in Health coverage. In partnership with Impact Ventures, ImpactAlpha is exploring the …