Black Tech Nation Ventures Closes $50 Million Inaugural Fund For Lowering Barriers To Capital
Black Tech Nation Ventures (BTN.vc), based in Pittsburgh, recently announced the successful closing of a $50 million inaugural fund. This venture firm focuses on investing in software startups led by founders from diverse backgrounds historically overlooked by traditional venture funding channels. The fund specifically targets entrepreneurs from Black, Latinx, female, indigenous, and LGBTQ+ communities, recognizing their potential to drive significant returns in the venture industry.
BTN.vc concentrates on supporting high-potential founders at the seed and pre-seed stages, primarily in sectors such as fintech, health, climate tech, AI, and machine learning. The firm has already made investments in 10 companies located in cities like Atlanta, Boston, District of Columbia, Indianapolis, New York, and Pittsburgh. These investments include EMTECH, Goodfynd, The Folklore, and Kloopify, with several of them securing additional funding rounds.
With plans to back 20-30 companies from its inaugural fund, BTN.vc typically provides funding at the pre-seed and seed stages, ranging from $250,000 to $1 million. The firm actively engages in leading, co-leading, and facilitating funding rounds to support its investment focus. Through a unique deal funnel approach, BTN.vc sources opportunities from diverse professional development groups, top-tier research universities, and historically Black colleges and universities.
Founded in 2020 by three experienced entrepreneurs, BTN.vc’s leadership team brings a wealth of knowledge and networks to the table. Kelauni Jasmyn, David Motley, and Seán Sebastian each contribute unique expertise in software development, corporate venture funding, and seed-stage investments, respectively. Supported by prominent investors like Alphabet, First National Bank, Mark Cuban, First Close Partners, and Bank of America, BTN.vc is well-positioned to drive positive change and inclusivity in the technology ecosystem.
In conclusion, BTN.vc’s commitment to supporting underrepresented founders and fostering diversity in the venture capital landscape is a significant step towards unlocking untapped potential in the industry. By focusing on inclusive entrepreneurship, the firm aims to catalyze innovation and drive meaningful impact across various sectors, creating opportunities for founders who have historically faced barriers to accessing capital and resources.
