17 Investment Firms for Underrepresented Entrepreneurs

Finding Your Funding

If you’re just starting your business, it’s important to exhaust all funding options to set yourself up for success. That starts with knowing where to look! Below are 17 investment firms that have prioritized underrepresented entrepreneurs in their investment process that may be of interest to you.

Throughout this directory, we’ll use terms about different types of funds, and funding stages. You can learn more about these terms here.

Black Angel Tech Fund

Black Angel Tech Fund

Founded in 2015 in Atlanta, Georgia, Black Angel Tech saw a need for more Black tech entrepreneurs and Black angel investors. They have a portfolio of four Black-owned companies and are traditionally focused on mobile, VR, AR, machine learning, and e-commerce.

Who: Black-Owned Companies
What: Technology
When: Early Stage
Website: www.blackangeltechfund.com

Backstage Capital

Backstage Capital

Backstage Capital has invested in over 180 companies in the past five years. They don’t focus on any specific industry but are looking for scalable companies led by “overlooked and underestimated” startups. 

Who: Women, BIPOC and LGBTQIA-Owned Companies
What: Open to multiple industries
When: Pre-Seed, Seed, Early Stage
Website: backstagecapital.com

Backstage Capital

CSD Social Venture Fund

Founded in 2017, CSD SVF has invested in seven deaf-owned or led companies across the United States and has plans to invest in several more over the next few years. CSD SVF provides investments to D/HH founders that are in a position to scale their business.

Who: Deaf and Hard-of-Hearing Entrepreneurs
What: Open to multiple industries
When: Series
Website: csdsvf.com

DigitalUndivided

DigitalUndivided

For nearly a decade, DigitalUndivided has been focused on growing Black and Latinx communities by investing in Black and Latinx, women-owned companies. DigitalUndivided offers companies an investment of up to $500k.

Who: Black and Latinx, Women-Owned Companies
What: Open to multiple industries
When: Seed
Website: www.digitalundivided.com

The Disability Opportunity Fund

The Disability Opportunity Fund

The Disability Opportunity Fund (DOF) provides capital to disabled entrepreneurs whose companies target audience includes people with disabilities. They currently have five companies in their portfolio and prefer to invest in companies that focus on employment, education, health care, socialization, or technology.

Who: Entrepreneurs with Disabilities
What: Open to multiple industries
When: Early Stage
Website: www.thedof.org

DiverseCity Ventures

With a strong focus on companies that create a positive social impact, DiverseCity Ventures has a portfolio of four tech-based companies. Its goal is to decrease the funding gap experienced by underrepresented entrepreneurs.

Who: Underrepresented Entrepreneurs
What: Technology
When: Pre-Seed, Seed
Website: www.diversecityv.com

EchoVC Partners

EchoVC is a seed stage VC and has invested in 36 different startups operating in 12 different countries. Investments range from $25,000 to several millions and are open to Women and BIPOC entrepreneurs.

Who: Women and BIPOC Entrepreneurs
What: Technology
When: Seed
Website: www.echovc.com

Eniac Ventures

Eniac Ventures

Eniac Ventures has a combined 80 years experience in Venture Capital and have invested in over 200 different companies. They have a special interest in Artificial Intelligence but also invest in consumer, enterprise, and deep tech companies.

Who: Underrepresented Entrepreneurs
What: Open to multiple industries
When: Debt, Seed, Early Stage, Series
Website: eniac.vc

Founders First Capital Partners

Founded in 2015, Founders First Capital Partners invests in startups that are based outside of major markets, and are committed to creating jobs in their respective communities. They currently only have two investments totaling $109 million.

Who: Underrepresented Entrepreneurs
What: Open to multiple industries
When: Debt, Seed, Early Stage, Series
Website: eniac.vc

Harlem Capital

Harlem Capital

Harlem Capital aims to “change the face of entrepreneurship” by investing in at least 1,000 companies over 20 years. So far, they’ve invested in 35 different post-revenue, tech-enabled companies.

Who: Underrepresented Entrepreneurs
What: Open to multiple industries
When: Seed, Early Stage
Website: harlem.capital

Impact America Fund

The Impact America Fund (IAF) invests in “companies built for and by people in marginalized communities.” Not only does IAF provide seed-stage funding, but they also help their investments find more investors for subsequent funding rounds.

Who: BIPOC Entrepreneurs
What: Technology
When: All stages
Website: www.impactamericafund.com

Kaleidoscope Investments

Kaleidoscope Investments invests in disability-led companies at any stage of the business life cycle – and in any industry. They currently support over ten companies led by individuals with various disabilities.

Who: Entrepreneurs with Disabilities
What: Open to multiple industries
When: All stages
Website: www.kaleidoscopeinvestments.com

Kapor Capital

Kapor Capital

With a particular focus on Black and Latinx-owned companies, Kapor Capital is interested in investing in tech-led companies that address gaps in access for low-income communities. Kapor Capital tends to invest in early-stage companies and to date has made more than 235 investments.

Who: Underrepresented Entrepreneurs
What: Open to multiple industries
When: Debt, Pre-Seed, Seed, Series
Website: www.kaporcapital.com

MaC Venture Capital

MaC Venture Capital has invested in over 150 early-stage tech companies. They’re invested in supporting companies who leverage cultural and behavioral shifts in an increasingly diverse global marketplace.

Who: Underrepresented Entrepreneurs
What: Technology
When: Seed, Early Stage, Series
Website: macventurecapital.com

Pipeline Angels

Pipeline Angels was founded in 2011 in an effort to provide startup capital to traditionally underrepresented groups in entrepreneurship and startups. The angel investors provide funding across industries for trans women, cis women, nonbinary, two-spirit, agender, and gender-nonconforming founders.

Who: Trans Women, Cis Women, Nonbinary, Two-Spirit, Agender, and Gender-Nonconforming Entrepreneurs
What: Open to many industries
When: Angel Investment
Website: pipelineangels.com

Precursor Ventures

Precursor Ventures

Precursors Ventures typically makes 20-25 investments per year ranging from $250,000 to $4 million across multiple industries. They are committed to supporting investors from diverse backgrounds at the earliest stage in their business’ development.

Who: Underrepresented Entrepreneurs
What: Open to multiple industries
When: Pre-Seed, Seed
Website: precursorvc.com

Reach Capital

Reach Capital supports entrepreneurs who are committed to developing educational technology solutions in the early stages of their business. They’re especially interested in companies that can expand the reach of education outside of the traditional classroom.

Who: Underrepresented Entrepreneurs
What: Education
When: Seed, Early Stage
Website: www.reachcapital.com

This is not an exhaustive list of VC’s investing in underrepresented founders. In August 2020, Act One Ventures introduced the Diversity Term Sheet Rider for Representation at the Cap Table. The Diversity Term Rider serves as a call to action and pledge for investors to take a more active approach in providing access to capital to underrepresented communities. Visit their website to see a list of firms that have signed this pledge and are committed to funding diverse founders.

Have Questions?

If you have any questions, or would like to learn more about CSD SVF contact our professionals today!

Rosa Lee Timm
Rosa Lee Timm

Division President and CMO

Dallas McCarthy

Venture Fund Associate

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