"Venture Capital Publication Reveals List of 50 Companies in Focus"
Adeyemi Ajao, co-founder of Base10, marks a significant milestone in the venture capital landscape as the first Black-led firm to manage over $1 billion in assets. Born to a Spanish mother and Nigerian father, Ajao spent his formative years in Nigeria, Italy, and Spain before attending Stanford for his MBA and earning a J.D. in Law and an M.S. in Economics from Icade University in Spain. He also studied Machine Learning at Stanford.
Following a stint at McKinsey, Ajao co-founded Jobandtalent, the world's largest on-demand staffing marketplace, now valued at over $2 billion. He then co-founded Identified, a company that brought revolutionary machine learning to HR, which was acquired by Workday in 2014 after raising $22.5 million.
Base10, co-founded by Ajao in 2018 with TJ Nahigan, follows a global investment strategy. Approximately 60% of the firm's investments are in companies led by women or minority founders, with a commitment to a diversity pledge, investing 1% of its profits to support organizations fighting for inclusion and racial equality.
Arian Simone, co-founder and CEO of Fearless Fund, champions investment in women of color-led businesses. Fearless Fund is the first VC fund built by Women of Color for Women of Color, with a mission to bridge the gap in venture capital funding for such founders. Institutional investors include J.P. Morgan Chase, Bank of America, and Mastercard.
In 2023, the American Alliance of Equal Rights filed a lawsuit in the U.S. District Court for the Northern District of Georgia, alleging that a Fearless Fund program providing grants to Black women to grow their businesses violates federal civil rights law. The case is ongoing.
Henri Pierre-Jacques, co-founder and Managing Partner of Harlem Capital, has an MBA from Harvard Business School and sits on the board of Amazon Black Business Accelerator. Harlem Capital has invested in 91% diverse founders and 43% female founders across 49 investments spanning 13 cities and 3 countries. The firm's founders, Pierre-Jacques and Jarrid Tingle, have raised $134 million for their second fund, with anchor checks from Apple, PayPal, and return investor TPG Capital.
Serena Williams, tennis superstar and world-class athlete, added venture capitalist to her list of accomplishments with Serena Ventures. Launched a few years ago, the firm invests in early-stage startups with over 70 portfolio companies, including Lolli, Propel, Cointracker, SendWave, Daily Harvest, and MasterClass. In 2022, Serena Ventures raised $111M from outside investors.
Marlon Nichols, General Managing Partner of MaC Venture Capital, joins the ranks of seasoned venture capitalists. With a focus on investing in Black, Hispanic, or female-founded companies, MaC Venture Capital has raised $110m in its inaugural seed-stage fund, aiming to invest in 40 seed-stage companies globally. The firm offers hands-on support, providing operations strategy, brand building, and recruiting support to entrepreneurs within its portfolio. Notable investors include Foot Locker Inc, Goldman Sachs, Bank of America, and the University of Michigan.
These firms, including MaC Venture Capital, Black Star Fund, BOF Capital, and South Loop Ventures, demonstrate a growing trend to support underrepresented groups in the venture capital industry.
- Adeyemi Ajao, co-founder of Base10, has made history as the first Black-led venture capital firm to manage over $1 billion in assets, a significant milestone in the world of venture capital.
2.base10, follows a global investment strategy, with approximately 60% of its investments in companies led by women or minority founders, contributing to the diversity in the business landscape.
- Arian Simone, co-founder and CEO of Fearless Fund, champions investment in women of color-led businesses, aiming to bridge the gap in venture capital funding for such founders.
- Serena Williams, tennis superstar and world-class athlete, added venture capitalist to her list of accomplishments with Serena Ventures, investing in over 70 early-stage startups, many of which are led by diverse founders.
- Marlon Nichols, General Managing Partner of MaC Venture Capital, and other firms like Black Star Fund, BOF Capital, and South Loop Ventures, demonstrate a growing trend in the venture capital industry, focusing on supporting underrepresented groups such as Black, Hispanic, and female founders.
