CapitalG, an investment fund operated by Google and its parent company Alphabet, plans to invest $60 million in black-owned venture capital firms and startups.
The investment was announced in a blog post by Jeremiah Gordon, General Counsel of Capital G.
Here are the organizations to which CapitalG is committing $60 million in capital to date:
Black-led venture capital firms:
- Collab Capital: an Atlanta-based fund for Black founders seeking capital, who value profitability, ownership and optionality.
- Concrete Rose: a Bay Area-based investment fund focused on using financial and social capital to build exceptional early-stage companies and close gaps for underrepresented talent.
- Noemis Ventures: a New York-based fund focused on early-stage companies in the fintech, marketplace and AI sectors.
- Plexo Capital: a Bay Area-based investment firm which makes direct investments in diverse startups.
- Reign Ventures: a New York and Miami-based early-stage venture capital firm that focuses on investments in consumer tech and software companies founded by women and people of color.
- Slauson & Company: a Los Angeles-based fund set up to invest in the next generation of entrepreneurs driving economic inclusion.
- CityBlock Health: a New York-based startup focusing on providing care to Medicaid and dual-eligible patients.
- Translation / UnitedMasters: a New York-based creative brand advertising agency focused on the intersection of brands with music, sports and popular culture.
Beyond funding, CapitalG is providing these recipients with access to Alphabet training and advising sessions to help them grow their businesses. Along with leaders across Alphabet, Google for Startups, Cloud for Startups and Partnership Solutions, CapitalG has put together a suite of offerings that include Google Ads and Cloud support, weekly office hours and one-on-one advising with Alphabet leaders.