NAACP launches $200 million fund of funds

NAACP launches $200 million fund of funds | TechCrunch

NAACP launches a $200 million fund of funds to back fund managers focused on issues that impact people of color.

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The fund was conceived in partnership with Kapor Capital and Kapor Center, along with nine other venture fund managers.

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Last year, Black founders raised less than 1% of all venture capital funds and 0.3% in the first half of this year.

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A fund of funds is when an investor invests in multiple venture funds, rather than making individual investments.

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