Investors across the Midwest and across the country strive to improve diversity and inclusiveness among startups and those who help fund them.
Kelli Jones, co-founder and general partner of Sixty8 Capital in Indianapolis, spoke about these efforts yesterday at the Wisconsin Technology Council’s early stage symposium in Madison. This seed-stage fund focuses on diverse technology start-ups.
“I think that number will really start to grow significantly as we can support more and more of the grassroots organizations, the people on the ground who are already serving these communities, and put more capital into those places. “The number of funders, the number of new entrepreneurs and potentially the number of new venture capital funds,” Jones said. (see photo)
Since starting fundraising in 2019, Sixty8 Capital has invested in 14 companies, including 10 led by Black entrepreneurs, Jones said. The $20 million fund covers his $250,000 to his $500,000 investments in these early stage businesses.
Meanwhile, TitletownTech partner Cordero Barkley described the Green Bay-based fund’s efforts to bridge the gap between existing resources anchored in Milwaukee and Madison. As another seed-stage fund, TitleTownTech is also looking to invest up to $500,000 in promising startups.
He also emphasized the importance of diversity in the startup environment and pointed to lost opportunities related to the lack of representation.
And Margie Batchelor, director of education initiatives at the National Angel Capital Association, linked this discussion to the broader issue of racial wealth disparity. She points out that the average U.S. white household owns six times as much stock as the average black household does, putting the spotlight on the role of Capital Her Gains in building intergenerational wealth. I guessed.
She said the association-led “Angel College” initiative provides an educational program to break down barriers to early-stage angel investing.
“You don’t have to look like the Shark Tank guys to be an angel investor. I will,” she said.
Learn more about this week’s conference: https://www.wisbusiness.com/2022/market-conditions-leading-to-less-favorable-deals-for-entrepreneurs-investors/