Cincinnati-based Lightship Capital made history Friday when it announced what is likely the largest-ever venture capital fund dedicated to investing in Midwestern, minority-led startups. This is also believed to be the largest initial fund run by a Black woman to date.
Lightship Capital is creating a $50 million fund that will support startups led by BIPOC, the LGBTQ+ community and people with disabilities. It will focus on five sectors: artificial intelligence, consumer package goods, sustainability, e-commerce and health care.
To start, the firm has secured $20 million from SecondMuse Capital, the financial investment arm of consulting firm SecondMuse. For more than a decade, SecondMuse has invested in businesses and real estate that help create new economies that are “growing, resilient and inclusive.” They do so by designing, developing and implementing a mix of innovation programming and investing capital.
Read the full article at: https://www.americaninno.com/wisconsin/tech-news-wisconsin/lightship-capital-raising-50m-fund-to-back-midwestern-minority-led-startups-4/