BBG Ventures has raised a new $60 million fund aimed at supporting founders from diverse backgrounds. Despite a slight shift from solely backing women founders, the focus remains critical as funding disparities persist for underrepresented groups.
Notably, funding for diverse founders is declining, with Crunchbase highlighting that Black founders secured only 0.3% of total capital raised in the first half of this year.
Co-founder Nisha Dua emphasized that existing LPs increased their commitments for the new fund, while prominent new LPs include Melinda French Gates' Pivotal Ventures and Fairview Capital.
The latest BBG fund will specifically target diverse founders in sectors such as healthcare, fintech, and AI, helping to bridge the gap in representation.
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