Kesha Cash envisions a future where “every person of color in the U.S. can participate in the economy fully and on their own terms.” The founder and general partner of Impact America Fund (IAF) just raised $55 million for a second fund to invest in early-stage startups that disrupt systemic racism.
“The close marks one of the largest funds ever raised by a sole Black female general partner,” TechCrunch’s Natasha Mascarenhas reported. Backing comes from 67 limited partners.
Cash and her team at Impact America Fund say they didn’t wait to finish fundraising before they began selecting portfolio companies. The second fund has already invested in 10, including the beauty supply business Mayvenn and mobile lending exchange SoLo Funds. Leaders from both companies spoke at Urban Tech Connect 2020.
In today’s Plug In South LA Beat, our regular curation of must-read innovation and tech news, we’re getting to know more about Cash’s plans for the fund and what this new investment could mean for early-stage startup founders:
Image: Kesha Cash, founder and general partner of Impact America Fund. Credit: Impact America Fund