thesis

Gadgets, Venture

Progressive Technological Ventures: In Unwavering Pursuit of Diversity Amid Rising DEI Opposition

Black Tech Nation Ventures launched in 2021 to address the funding gap for Black founders amid a wave of venture diversity initiatives after the murder of George Floyd in 2020. Three years later, amongst growing backlash against DEI and diversity-focused investments, the firm’s mission may be more important now than when it started. The firm found initial fundraising success in 2021, and held a first close on $25 million that year, he explained. “We have seen funding to diverse founders and Black-led venture funds decline rapidly. The firm will also collaborate with Black Tech Nation, the nonprofit that is run by BTNV general partner Kelauni Jasmyn that created a digital network of Black tech professionals, when it can.

Ava Patel
February 28, 2024
1 Comment

Gadgets

Unleashing ArcTern’s Climate Tech Thesis: The Power of Revenue Impact

Much of the intriguing climate tech that crosses our desks is theoretical or only just coming to market — think: tech that sucks carbon out of the sky, emerging lithium-ion battery alternatives and bio-plastics that’ve yet to seriously scale. The Toronto-based venture firm just announced the close of a $335 million fund (USD) — its third and largest to date. “If you’re not making money, you’re not having impact,” McCaig told TechCrunch. “Climate tech tends to be fairly distributed around the globe, more so than AI and software, which tends to concentrate in California,” added McCaig. The venture firm’s second fund clocked in at $150 million (USD), while its first — a seed fund — totaled $30 million.