Dealflow | April 6, 2021

Genius Guild scores $5 million financing to back Black-led tech ventures

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, April 6 — Racial inequities have cost the U.S. economy more than $16 trillion over the past two decades. Closing racial gaps in wages, housing credit and business capital could add $5 trillion to the U.S. GDP over the next five years, according to Citigroup.

Genius Guild, a new platform created by tech investor and entrepreneur Kathryn Finney, will build and invest in Black-led companies serving Black communities with potential to scale globally.

“As a Black American woman, the poison of racism removed the right of my family to own their livelihood,” wrote Finney in a Medium post. Finney’s great grandparents were victims of the early 1900s Tulsa race massacre in Tusla’s Greenwood district, known as “Black Wall Street.”

Building an ecosystem

Genius Guild secured $5 million from Melinda GatesPivotal Ventures, The Impact Seat, First Close Partners, Facebook’s Andrew Bosworth and other investors. Genius Guild Labs and Genius Guild Studio help incubate and support Black founder-led tech ventures.

The firm’s in-house Greenhouse Fund will make pre-seed investments of up to $200,000 in Black-led fintech, healthtech and other tech ventures, such as Greenwood Bank, Invest Sou Sou, Goodr and Care Academy.