After joining BBG Ventures nearly five years ago, I’m excited for the next phase of growth as we announce our second institutional fund -- a $60M fund backing female and diverse founders building for the core needs of an increasingly diverse America -- we call this the Polycultural Future. Our thesis is informed by a survey of >2000 Americans across races, age, gender, income levels, political parties and geographies. Our survey yielded a number of exciting findings in each of our focus areas (check out the full report to learn more -- The Mind of Polycultural America: A Look at Identity, Priorities and Behaviors (https://lnkd.in/eGzP3f2r), but perhaps most surprising was that priorities and needs across races, age and genders are actually largely the same. Our research reinforced our thesis that diverse and overlooked founders who understand the challenges facing Americans today - across healthcare, work, education, financial security, climate safety and community -- are best positioned to build transformative businesses that drive venture returns. If you know a great female or diverse founder in building in one of these arenas, we would love to connect!

In case you missed it. California recently signed our F5 Collective sponsored bill SB-54 into law, mandating all venture capital funds in the state to report on the diversity of founders within their portfolio companies. This means venture capital firms will be required to submit data on the number of women founders and people of colour they’re actually investing in, bringing greater transparency to the ecosystem, while supporting accountability and – hopefully – progress. Strategically starting in the Silicon Valley, we've campaigned to create landmark change in legislation, it is just the beginning. In 2022, out of $238 billion distributed via venture capital, only 1.9% went to women founders. That’s down from 2.4% in 2021, despite women founders out-performing their male counterparts by an average of 63%. Black founders received less than 1% of all capital invested. SB 54 will shed light on the current state of things, foster transparency and provide insights into the allocation of funding, and the issues that need to be addressed. Collecting data is the first step towards holding the industry accountable, and starting to move the needle. If young people can’t see themselves represented in the entrepreneurs of today, they’re less likely to aspire to entrepreneurship. That means another generation of companies building products and services that don’t serve the whole population – a situation that perpetuates inequality. On the other hand, more diversity among our innovators means more solutions that work for everyone. The fact is that women and people of coloUr collectively make up the majority of today’s global consumer base. The women’s economy alone is worth around $1 trillion, and these are long-neglected markets that are simply too big to ignore. Failure to keep up will be a financial detriment to the entire, global tech industry. There’s never been more talk about equality, so let's start holding venture capitalists to account. SB 54 will lay bare the facts as to who’s invested in diverse founders; who’s judgment may be clouded by bias; and who has supported founders’ communities in the past. It’s time for action. Our vision is changing the trajectory now which is why we started SB 54 in the Silicon Valley, creating a ripple effect all over the world. Now it's time for change in APAC.

Thrilled to announce BBG Ventures second institutional fund – a $60M early-stage fund backing overlooked founders who are building for the Polycultural Future of America. Thanks Emma Hinchliffe at Fortune for sharing the news: https://lnkd.in/gSwqpHpq We’ve spent the last few years observing the passage of the country from a monoculture to one where women were a bigger part of the story, to today - where identity and lived experience matter more than ever. We call this the Polyculture – a new status quo in which America is a mosaic of unique segments; where identity is multivariate and dynamic; and where individuals can identify with multiple communities at once. I began using this term over 2 years ago, as a cross-culture kid myself: the child of Indian immigrants, growing up in rural Australia - and now an immigrant in America. We wondered - how do Americans perceive identity, and how does that drive their most fundamental needs? We conducted research with +2000 Americans across equal cross sections of race, gender, age and income. Here’s what we found: 1. We have surprisingly common priorities, needs and concerns despite our unique identities. 2. The biggest areas of the economy are still on the table, with Americans highlighting huge areas of opportunity in health, work, financial security, climate safety, and the underserved. 3. But we need new, more nuanced-solutions and personalization considering the emerging majority minority generation, an aging population, widening wealth gaps and continued differences along gender lines. To that end, we’ve officially expanded our mandate to embrace this evolution, backing underestimated founders – female or diverse – addressing the biggest pain points for our polycultural population. Read the full report here: The Mind of Polycultural America - https://lnkd.in/gdtiFE7v We’re proud to partner with new LPs including Fairview Capital, Pivotal Ventures, The California Endowment in addition to our many returning partners like Illumen Capital, George Kaiser Family Foundation who believe as we do: when you make change, you make money. If you’re an early-stage founder working to move the world forward in health, work, financial security, climate safety or for the underserved - in B2B or B2C - we want to talk to you. Susan Lyne Claire Biernacki Drew Silverman Fennessy Carol Magalhães Isaacs, CFA Addison B. Marsh, Jr.

🎥 Join Me in Championing Female Founders: I am honored to be co-hosting the premier screening of Show Her The Money in beautiful Newport, RI on July 22nd. As a female founder of Flourish Care, I've seen firsthand the incredible impact of investing in women-led startups. Let’s take a look at the hard-hitting facts: - Businesses founded by women generate DOUBLE the revenue per dollar invested than those founded by men. - Female founders receive ONLY 2% of venture capital. - Achieving funding equality for women entrepreneurs represents a massive opportunity with potential to boost the global GDP by UP TO $5 trillion. - Women comprise ONLY 11% of the senior positions in the venture capital workforce. This stark underrepresentation and underfunding highlight not just a gap in equity but also a vast, untapped market opportunity. By attending “Show Her the Money,” you’re part of a movement to close these gaps and make a real economic impact. I’m excited to moderate an engaging panel of cast members, phenomenal entrepreneurs and investors, including Allison Byers, La Keisha Landrum Pierre, Melissa Sherman, Ph.D., Shruti Shah, Catherine Gray and Tom Sperry. Their experiences emphasize the urgent need for and benefits of inclusive investment practices. Join us to spark a dialogue that leads to action. Don't miss this opportunity to network, learn, and be inspired to invest in the next big innovation led by women. See you in Newport for a powerful and purpose-filled evening! 🎟️ Grab your ticket now, tag your network below and be part of the change: https://lu.ma/7nkdj82s #leadership #womenfounder #startup #venturecapital #innovation #womeninleadership #inclusion #diversity A huge thanks to RIHub, New England Female Founders, Rogue Women's Fund, BankNewport for making this possible. Sydney Paige Thomas Caroline Lewis Julia McDowell Naseem Sayani (she/her) Sonia Millsom Bari Harlam Meredith Curren Delphine O'Rourke, JD Danielle Olivera Symphonic Capital Liz Powell Emmeline Ventures Slater Technology Fund Jessica J. Federer Hope Hopkins Alyssa Reisner

Five years ago, my partner Nisha Dua and I left corporate life and formed BBG Ventures, convinced that a rising generation of founders from diverse communities and backgrounds were poised to build transformative companies in a rapidly changing America. Today we’re announcing a new $60M early-stage fund to continue that work, and releasing the research that informed our investment thesis: The Mind of Polycultural America: A Look at Identity, Priorities and Behaviors (https://lnkd.in/eGzP3f2r) We’ve always looked around corners to identify shifts in behavior and attitudes. But several years ago, Nisha began describing the changing face of the country as the American Polyculture; and last year we set out to better understand it. That research – a survey of 2000+ people, large enough to be statistically relevant across race, gender, age, income, political party, and geography – reveals a number of surprising insights. Americans today define their identities based on a unique perception of their place in the world, which will demand more nuance and personalization in the platforms and products we bring to market; but we have surprisingly common priorities, needs and concerns across nearly every age group, race and gender. The research also confirmed our belief that a diverse cross-section of founders who understand first-hand the challenges and opportunities in our polycultural future will have a competitive advantage in arenas that still need transformation: health, education, financial security, workforce support and climate safety. Thrilled to be on this journey with my partner of more than decade, Nisha Dua, plus the stellar BBGV team: Claire Biernacki, Carol Magalhães Isaacs, Drew Silverman Fennessy, Addison B. Marsh, Jr. If you know a founder transforming the way we live in one of these categories, send them our way. Thanks Leena Rao for the coverage on Business Insider! https://lnkd.in/eRb5Vv3R

There is undoubtedly demand for Black-owned brands, but without the funding to get them there in today’s competitive market, how can entrepreneurs move forward? Despite more voices demanding their products, investment in these companies declined in 2023 to 0.48%. Coming to their aid is BrainTrust Fund, the $25 million venture fund of BrainTrust Founders Studio, the largest members-only platform focused on Black beauty and wellness founders. Kendra Bracken-Ferguson (CEO) and Lisa Stone (Chief Investment Officer) are the minds behind the enterprise, seeing BrainTrust Fund as a “blue ocean” investment opportunity to help push the entrepreneurs who are leading culture and creativity in the industry. Anchored by WestRiver Group, the investment branch is advocating for the beauty brands of tomorrow. Story by Carla Seipp. #beautybusiness #beautyindustry #finance #investment #resources

I'm impressed by the recent blog post from Harlem Capital, highlighting their commitment to diversity investing under the guidance of Jarrid Tingle. It's evident that their strategic approach is yielding tangible results across various facets of the VC ecosystem. From sourcing significant portions of Black and Latinx seed deal volume to creating opportunities through their intern program, Harlem Capital's dedication to fostering diversity and inclusion is commendable. As we reflect on their journey, it's inspiring to see the impact they've had and the doors they've opened for underrepresented founders. However, it's also a reminder of the work yet to be done in creating a truly equitable entrepreneurial landscape. On that note, I'd like to take a moment to introduce Spring Climate Tech and our founder, Anukampa Freedom Gupta-Fonner. We are a startup focused on decarbonizing food distribution via the circular economy. As we embark on our seed round raise, I can't help but see the potential synergy between our mission and Harlem Capital's focus on supporting diverse founders. Jarrid, we'd love to explore the possibility of partnering with Harlem Capital and leveraging your expertise and resources to drive positive change in the climate tech space. Let's chat and see how we can work together to make a difference! #HarlemCapital #DiversityInvesting #VentureCapital #Innovation #ClimateTech #CircularEconomy #SeedRound #InvestmentOpportunity #Sustainability #MakeTrashHistory #Packaging #Entrepreneurship #Climateaction #EPR #SupplyChains https://lnkd.in/eBs6fvS8

Venture.Community - The second in my series of Pillars of values, for our values-driven endeavour. 2st Pillar - Mutuality and Democracy 👍 4th July is nearly upon us, and whoever you're voting for, go and vote. 👍 Democracy and voting is a right hard fought for, and in society we have one person of voting age receiving one vote, there is no vote for funds, money or companies. Similarly, in a Venture Society and Equitable Accelerator, there is a 1 person - 1 vote rule. Our members, from first time founders to seasoned multi-exited fellows share in the ownership of their society and a democratic process. Our companies do not vote (they're our product!) and our money does not change the quantity of our votes. Being mutual, and equitable, everyone buys in and the society is co-owned under the rules of a registered cooperative society. * Our Fellows and Specialists invest cash (£20k) into their venture society, there are some tax reliefs available too. * When Fellows sponsor a #startup, a small amount of equity is shared (£20k's worth, capped at 2.7%) and a Founder is nominated for a membership discounted by the value of that equity. * We’re all sharing in a small part of each other’s success, we call this “The Rising Tide”, and it opens up collaboration into cooperation. Go Vote Turtles! #startups #yorkshire #founders #entrepreneurs

The Fearless Fund, a venture capital fund based in Atlanta, has agreed to discontinue its grant program supporting Black women entrepreneurs. This decision follows a lawsuit by the American Alliance for Equal Rights, which argued that the program's focus on Black women was discriminatory. A federal appeals court sided with the group, citing a Civil War-era law against racial discrimination in contracting. Since 2019, the Fearless Fund has aimed to bridge the gap in venture capital funding, particularly for Black women, who received less than 1% of the $288 billion in venture capital funds deployed in 2022. Despite this setback, the fund, led by CEO Arian Simone, remains committed to expanding economic opportunities for women of color, having invested nearly $27 million in 40 startups. As the grant program ends, the Fearless Fund will continue its mission to support diverse entrepreneurs in other ways. Download the Techy app now: https://ow.ly/ZHlR50TlpOK #FearlessFund #Entrepreneurship #VentureCapital #DEI #BlackTechTalent

Do. Better. I’m proud of those that have invested in Fidu and are working alongside us to end hourly billing for good. I’m humbled by our customers who have chosen Fidu as the platform to enable their ability to sell, deliver, and scale subscription and flat fee legal services. And …then… I read these statistics and realize what an uphill battle I have and still must climb in an industry with very few that look like me… and very few that invest in people that look like me. Licensed to practice for 15+ years. Ran a subscription law firm for close to 15 years. Developed a framework to teach others how to do the same for over 5 years. Co-founded a platform (Fidu) to enable legal teams to transform their firms leveraging that same framework. I could go on. I’ve been in this. I know this. I am transforming this industry. And…yet…this is our reality. 🤦🏽♀️ We. Must. Do. Better. #tech #legaltech #blackintech #blackinlegaltech #womenintech #womeninlaw #womenoflegaltech #fastcase50