Dear SeedInvest Community,
These are tension-filled times that we are collectively experiencing across the globe. We are appalled by the institutionalized racism that disproportionately impacts the black community and permeates the fabric of our society. We understand that for every George Floyd, Ahmaud Arbery, and Breonna Taylor, there are countless others whose stories have gone untold, and our hearts go out to their families and loved ones.
As members of the venture capital community speak up and make their voices heard, we want to make it clear that we stand with the Black community. This is not a burden that they have to bear alone; this is a global problem that is impeding the advancement of the American people as a whole.
We at SeedInvest believe in equal access and opportunity, and we were founded on the principle of democratizing access to venture capital for underserved entrepreneurs and previously excluded investors.
It is with these values in mind that we partnered with former NBA All-Star and Sacramento Mayor, Kevin Johnson, to launch the Black Capital initiative, which aims to promote economic empowerment for the African American community by providing access to the venture capital asset class. This collaboration was created with the vision to elevate communities of color to gain financial independence, build wealth, and decrease economic inequality in this country.
Tackling the entrenched racial inequalities that are the root cause of the present social unrest will be complex, but it is necessary now more than ever. We are proud to be playing a small role in addressing the lack of access and economic inequality, yet we acknowledge there is much work to be done. In the coming weeks we will be sharing more about this newly launched initiative and look forward to realizing Black Capital’s mission.
In the meantime, we encourage everyone, regardless of race, to participate in building an inclusive America that our children and future generations can truly be proud of.
This post was written by Marcus Hollon on June 11, 2020