Return on Inclusion | September 23, 2022

ImpactAlpha Deal Spotlight: Inclusive fund managers

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, September 23 — First-time impact fund managers tend to outperform more experienced peers. This week, VC Include selected a dozen impact-oriented venture capital and private equity funds led by general partners with diverse backgrounds for its two-month education and mentoring fellowship program.

Separately, Alphabet, through its growth fund CapitalG, allocated the final $40 million in investments of its $100 million commitment in 2020 to seven Black venture fund managers targeting Black entrepreneurs. Among the recipients is Serena WilliamsSerena Ventures, Black Tech Nation Ventures and Nasir Qadree’s Zeal Capital Partners

Overcoming hurdles

This week, RareBreed Ventures, Rogue Women’s Fund and VitalizeVC joined forces to raise a collective $10 million for their funds through a special purpose vehicle, or SPV. Emerging and diverse managers are getting creative to overcome historic barriers to raising first funds.

Raven Indigenous Capital Partners, an Indigenous and owned venture capital firm, secured $46 million in a first close of its second fund to invest in Indigenous-led enterprises. Investors include Bank of America, the TELUS Pollinator Fund for Good and others.