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Black Tech Nation Ventures is an early-stage venture fund established in 2020, dedicated to investing in startups led by diverse founders, particularly those from Black and other underrepresented communities in the United States. The organization was founded to address the historical barriers to capital access faced by these entrepreneurs, aiming to create a more inclusive startup ecosystem. The fund has successfully closed its inaugural $50 million fund in February 2024, targeting a portfolio of 20-30 companies.
Currently, Black Tech Nation Ventures operates with a team of five professionals, including three General Partners with extensive backgrounds in venture capital and technology. The firm is headquartered in the United States but is open to considering investments in diverse entrepreneurs globally. Notable milestones include partnerships with significant limited partners such as Alphabet, Bank of America, and Mark Cuban, which enhance its credibility and reach in the venture capital space.
The investment strategy of Black Tech Nation Ventures centers on seed-stage, pre-revenue startups that are in pilot phases with promising customers. The fund primarily invests in technology-driven sectors, including software as a service (SaaS), artificial intelligence (AI), fintech, healthcare, edtech, and commerce. Initial check sizes range from $250,000 to $1 million, with the fund reserving capital for follow-on investments in successful portfolio companies.
Black Tech Nation Ventures is particularly interested in supporting diverse entrepreneurs who have historically faced barriers to capital access. The fund's geographic focus is primarily on the United States, but it is open to special cases for investments outside the U.S. This approach aligns with the firm’s mission to foster a more inclusive startup ecosystem by providing resources and mentorship to underrepresented founders.
Black Tech Nation Ventures has invested in a diverse range of companies across various sectors. Notable portfolio companies include:
Other companies in the portfolio include Afterschool HQ, Brevity, BrightUp, Conduiit, Goodfynd, Guaranteed, Hive Wealth, Kloopify, Lunchtable, and Olira. Each of these companies is focused on addressing unique challenges within their respective sectors, contributing to the fund's mission of supporting diverse-led startups.
Kelauni Jasmyn: General Partner with a background as a software developer and founder/CEO of Black Tech Nation, the parent community organization.
Sean Sebastian: General Partner who previously founded Birchmere Ventures, managing a portfolio of approximately 100 companies.
David Motley: General Partner with experience leading a corporate venture fund and co-founding the African American Directors Forum.
Maria Ferguson: CFO with expertise in financial management and operations.
Ehab Elhag: Investor with a focus on identifying promising startups in technology sectors.
Katelyn Perryman: Investor dedicated to supporting diverse founders and enhancing their growth potential.
To pitch to Black Tech Nation Ventures, founders should visit their website at btn.vc. The fund prefers pitches that include a clear overview of the business model, market opportunity, and the diverse backgrounds of the founding team. While there is no formal application portal, submissions through the website are encouraged.
Response times may vary, but founders should expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory.
In February 2024, Black Tech Nation Ventures closed its inaugural $50 million fund, targeting a portfolio of 20-30 companies with check sizes ranging from $250,000 to $1 million. This fund aims to support diverse-led startups, particularly those founded by Black and other underrepresented groups.
Recent investments include companies such as Every Health, Kloopify, and Olira, further expanding their portfolio of innovative technology-driven startups. The fund is recognized for its commitment to inclusivity and addressing the barriers faced by diverse entrepreneurs in accessing capital.
What are the investment criteria for Black Tech Nation Ventures?
The fund primarily invests in seed-stage, pre-revenue startups led by diverse founders, particularly those from Black and other underrepresented communities. They focus on technology-driven sectors such as SaaS, AI, fintech, healthcare, edtech, and commerce.
How can I pitch my startup to Black Tech Nation Ventures?
Founders can pitch their startups by visiting the fund's website at btn.vc. The fund encourages submissions that highlight the unique aspects of their business and the diverse backgrounds of their founding teams.
What makes Black Tech Nation Ventures different from other venture funds?
This fund is specifically focused on investing in diverse-led startups, addressing the historical barriers to capital access faced by underrepresented entrepreneurs. Their commitment to inclusivity sets them apart in the venture capital landscape.
What is the geographic scope of your investments?
While the primary focus is on the United States, Black Tech Nation Ventures is open to considering investments in diverse entrepreneurs globally in special cases.
What is the typical check size for investments?
The fund typically writes initial checks ranging from $250,000 to $1 million and reserves capital for follow-on investments in successful companies.
What kind of support do you provide to portfolio companies?
Black Tech Nation Ventures offers not only capital but also strategic support, mentorship, and resources to help entrepreneurs navigate the challenges of building successful startups.
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