ImpactAlpha, May 11 — Indianapolis-based Sixty8 Capital has raised $20 million for a venture fund that aims to invest in more than two dozen pre-seed and seed-stage technology startups led by Black, Latinx, women, LGBTQ+ and disabled founders, particularly in the Midwest.
Backers include the Indian Next Level Fund, 50 South Capital, Eli Lilly and Co. First Internet Bank, Central Indiana Community Foundation and Bank of America (see, “Bank of America places $150 million with minority-led fund managers”).
“There is a $4 trillion missed opportunity when we don’t put a focus on diverse founders,” says Sixty8’s Kelli Jones. The Black female-led vehicle made its first investment in Black-led Qualifi, an Indiana startup that helps employers make hiring simpler and more efficient.
Panoramic Ventures launched a $300 million fund in February to back overlooked tech founders in the southeast and midwest. Chicago Ventures, Lightbank and Cleveland Avenue target underrepresented founders in Chicago and the midwest (see, “Chicago-based venture funds aim to bridge funding gaps for overlooked founders”).