ImpactAlpha, Sept. 20 – First-time fund managers tend to outperform their more experienced peers but face structural barriers and biases in raising capital, and even more so if they are women and/or people of color. Investing in them is an opportunity for impact alpha, particularly when they’re focused on climate, health and economic inclusion.
That’s the thesis of VC Include, which selected for its two-month education and mentoring fellowship program a dozen impact-oriented venture capital and private equity funds led by general partners with diverse backgrounds.
“VC Include is serious about backing the future of private equity and venture capital, and making sure people of color have a seat at the table,” said La Keisha Landrum Pierre of L.A.-based Emmeline Ventures, one of the funds selected, which backs female founders building businesses that help women.
The second cohort of VC Include Fellows (the first launched last year) includes Austin-based Ajim Capital (led by Eunice Ajim); Portland-based The BFM Fund (created by Himalaya Rao); Uplifting Capital in San Rafael, Calif. (run by Toussaint Bailey).
Last year’s cohort included Apis & Heritage, which went on to a first close of $30 million, and Supply Change Capital, which has secured investments from Bank of America and General Mills.
VC Include is supported by Blue Haven Initiative and the Visa, Skoll, MacArthur and Nasdaq foundations.