Next Coast Ventures has raises $85 million for Austin’s startup scene. The firm’s founders said they want to boost Austin’s tech scene and support early-stage startups between the coastal tech hubs. “We are finding outsized opportunities between the coasts with talented, tech-savvy entrepreneurs with vision,” co-founder Mike Smerklo said. The oversubscribed fund already has invested in six
Climate Finance The Congo Basin forests are second only to the Amazon Basin as a natural carbon storage system. But for countries in the basin to make the transition from forest exploitation to ecosystem services will require both cooperation and capital. The Brazzaville Foundation is pushing forward with the nine-country Congo Basin Blue Fund introduced at
Nationally, minority- and women-owned businesses lag white- and male-owned businesses in value. In D.C. the gap is even wider. The Washington Area Community Investment Fund, a community development financial institution, is launching the Ascend Capital Accelerator to help women entrepreneurs and entrepreneurs of color build their human and financial assets. The first 25 entrepreneurs will join
Chennai-based agriculture finance company Samunnati raised $4.5 million from Accel Partners, Elevar Equity and others. The company provides credit, loans, and other financial products to small and micro-agribusinesses, which have difficulty accessing services from banks. Samunnati looks at “cash flow patterns, seasonality and the nature of collateral in [agriculture] supply chains” and other nontraditional risk indicators.
The Fledge accelerator, based in Seattle, is raising and managing a family of funds to support graduates of the program. Africa Eats provided a $200,000, four-year loan to East Africa Fruit, a Tanzanian produce aggregator. It extended $170,000 to Geossy, a Ugandan aquaculture venture, in the form of a blended fixed-rate loan. And Tanzanian poultry venture