Today, on Juneteenth, we recognize the efforts this nation still needs to put toward addressing structural racism and disparities, including in the world of tech.
This week, HBCUvc, a nonprofit that aims to diversify the world of venture capital, launched a million-dollar fund. Founder Hadiyah Mujhid told me that the capital would provide nondilutive financing to overlooked founders, which they define as Black, Indigenous and LatinX entrepreneurs, replacing the traditional angel round. But she also admitted that supporting founders wasn’t the only primary goal. Instead, she explained to me the importance of what she defines as “teaching capital.”
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