Return on Inclusion | September 7, 2022

Kapor Capital attracts outside investors to $126 million fund to close equity gaps

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, Sept. 7 – Oakland-based investment firm Kapor Capital has deployed the capital of Mitch Kapor, a founder of Lotus Software, and educator Freada Kapor Klein, who stepped back from leadership earlier this year.

New co-managing partners Ulili Onovakpuri and Brian Dixon tapped outside limited partners for the first time in raising $126 million for the firm’s third fund focused on underrepresented founders of early-stage startups. Funded entrepreneurs agree to the firm’s founders commitment and set diversity and inclusion goals.

New leadership

Both Dixon and Onovakpuri came up through Kapor’s internal talent development programs, as they recounted on ImpactAlpha’s Agents of Impact podcast in June.

The new fund has invested in Tomo Credit, which helps first-time borrowers build credit scores. Cayaba Care provides maternity care, mental health counseling, breastfeeding support and patient education for low-income mothers and mothers of color. Daylight says it is the first digital banking platform designed for the LGBT+ community by the LGBT+ community.