Collab Capital closes $ 50 million fund to help foster black innovation


(Photo credit: courtesy / Collab Capital)

Collab Capital, a startup investment fund focused on start-ups led by black founders, has announced the closing of its first $ 50 million fund.

With limited partners such as Apple, Goldman Sachs, Google, PayPal, The Andrew W. Mellon Foundation, The Kapor Foundation, Mailchimp and others, this announcement is important to Collab Capital’s mission to create generational wealth by investing financial, human and social capital to support, develop and sustain innovative black-owned businesses.

Grammy Award-winning hip-hop artist Lecrae is currently a corporate partner with Collab Capital, providing advice and introductions to key contacts within various industries for these companies.

“I got involved with Collab as a venture capital partner because I wanted to do more than just invest money,” Lecrae said. “For so long, these innovators had no other options to fund their startups and now they have options, training, mentors and capital to make their vision a reality. By leveraging my influence, I hope to help black entrepreneurs who would otherwise have gone without funding to reach their full potential. “

Jewel Burks Solomon, Justin Dawkins and Barry Givens founded Collab Capital with the vision to establish a path to economic parity for the black community, through increased ownership within the innovation economy.

Only 1% of black founders are backed by venture capital, which slows the growth of black-owned businesses. Collab Capital hopes to change this by providing flexible capital, network access and fostering community development.

“Black founders are part of the fastest growing entrepreneurial segment, but to this day they remain the most underfunded and underfunded group,” said Givens.

“Collab Capital is delighted to announce the closing of Fund I and to provide Black business owners with the capital and resources they need to realize their full potential. We believe that this fund is an important step in reducing disparities in racial wealth while promoting a sustained economic recovery in our country. “

The Collab team seeks to change the narrative of access to capital by offering black founders additional avenues to traditional venture capital. In addition to economic capital, each company in the portfolio will be supported by social capital through growth partners who will bring their expertise and sector relationships to promote scalability.

Collab Capital’s board of directors includes advisors from all sectors, including renowned corporate executives Steve Pamon, Rodney Adkins and Kimberly A. Blackwell, who leverage their expertise and network to identify the best partnerships to increase brand exposure and revenues of portfolio companies.

“Collab Capital has critically examined the landscape of black founders and developed a bespoke new approach that we believe will help build wealth in the black community,” said Peter Sanborn, Managing Partner of PayPal Ventures. “We are delighted to support this team of talented investors as part of PayPal’s initiative to promote racial fairness.”

Collab Capital’s growth capital solution focuses on profitability, ownership and optionality. Their SPACE agreement is an innovative model specifically designed to provide businesses with a structure for other possible paths to success, outside of a traditional exit, and return value as they grow.

Collab Capital is interested in startups focused on providing unique and innovative solutions for the future of learning, work and care.

To date, Collab Capital has invested in four companies, including the reinvented rain hat Hairbrella, music licensing company Music Tech Works and Jax Rideshare – a startup serving rideshare and delivery drivers in Atlanta, and the based startup to DC Please Assist Me which is associated with property management companies to provide residents with personal assistants.

The company will invest in more than 50 black-run businesses over the next three to five years.

Interested founders and potential investors who wish to learn more about Collab Capital can visit Follow the route on social media on Twitter at @collab_capital and Instagram at @

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