Today, Black Tech Nation Ventures (BTN.vc), based in Pittsburgh, announces its $50 million inaugural fund aimed at supporting software startups led by diverse entrepreneurs, a major effort to democratize access to venture capital.
BTN.vc is setting a new precedent in the venture capital sector by focusing on startups founded by Black, Latinx, female, indigenous, and LGBTQ+ entrepreneurs.
This initiative is built on the understanding that these groups have historically been marginalized in venture funding, despite their potential to generate substantial returns.
The firm is keen on identifying and nurturing early-stage companies across pivotal areas like fintech, edtech, health tech, climate tech, and AI, demonstrating a commitment to both innovation and social equity.
David Motley, a general partner at BTN.vc, commented
"We set up BTN.vc to equip and train a new generation of more diverse entrepreneurs and investors. Our commitment goes beyond just funding; we aim to provide the comprehensive support our founders need to thrive and to make the venture capital industry more accessible to diverse voices."
Notably, BTN.vc has already invested in 10 innovative companies across the United States, demonstrating its commitment to fostering change and adding value.
These investments cover a range of sectors, emphasizing the firm's dedication to promoting diversity and inclusion within the startup ecosystem.
With intentions to support 20-30 companies, BTN.vc is actively engaging in building a more inclusive environment for entrepreneurs from underrepresented groups.
Conclusion
In 2020, Kelauni Jasmyn, David Motley, and Seán Sebastian founded BTN.vc, uniting their extensive experience to create a venture firm that not just funds, but also nurture diversity in the tech industry.
This move by BTN.vc to lower barriers for underrepresented founders is a clear indication of the changing landscape in venture capital, aiming for a more equitable and diverse technological future.
