HBCU Seed will invest in eligible startups from US historically black colleges and universities at a time of heightened tension over racial inequalities.
US-based venture capital and private equity firm HBCU Seed has raised an initial $10.7m from unnamed investors to nurture startups from historically black colleges and universities (HBCUs), BlackNews has reported.
All HBCUs in the US have been invited to buy equity in the new firm in return for a minimum $100,000 investment.
HBCU Seed will exclusively back startups founded by eligible students, alumni, faculty and staff vetted by its entrepreneurship centre HBCU Seed Foundation.
The vehicle is…
