Venture capital in 2024 is slowly diversifying. More women and minorities are entering the field, bringing fresh perspectives. 

  • 2024 is projected to see a 20% increase in women-led VC funds.
  • 72% of VCs acknowledge the value of diversity in driving innovation.
  • According to the Center for American Progress, closing the racial wealth gap and funding historically underserved entrepreneurs can unlock $1.8 trillion.
  • A recent NVCA report indicates a 15% increase in VC firms with at least one minority owner compared to 2022.
  • 2024 is predicted to see a rise in founders from diverse backgrounds, including ethnic minorities and LGBTQ+ individuals. This will further diversify the startup ecosystem. 

Looking for diverse venture capital firms? Get a head start with our list of top venture capitalists, including their investment focus and contact details.

1. Collab Capital

➡️ Collab Capital is an Atlanta-based early-stage VC firm that invests in Black-owned tech-enabled companies. For 20+ years, it has helped more than 38 public companies and raised $50M in funds.

Ethnicity: Black/African American

Type: Venture Capital

Funding stage: Early stage

Average check size: $500K-$700K

Notable portfolio companies: Clear, Culina Health, FilmHedge

Contacts: LinkedIn

2. Black Tech Nation Ventures

➡️ Black Tech Nation Ventures is a tech-focused VC firm that funds pre-seed and seed-stage Black-led startups in SaaS, online marketplaces, AI, and blockchain.

Average check size: $250K-$1M

Total funds raised: $50M

Total number of investments: 5

Notable portfolio companies: Hive Wealth, Kloopify, The Folklore

Contacts: LinkedIn, Email

3. Brown Venture Group

➡️ Brown Venture Group empowers Black, Latino, and Indigenous founders in the IT, healthcare, and B2C/B2B sectors. Beyond funding, they provide training programs and network sessions.

Funding stage: Pre-seed – Series B

Total number of investments:

Notable portfolio companies:  Robocast Inc., Big Navajo Energy

Contacts: LinkedIn, Contact-us page

4. Collide Capital

➡️ Collide Capital is a New York City-based VC firm that targets early-stage startups focusing on diversity. They invest across enterprise SaaS, supply chain infrastructure, and consumer software. Among notable companies in their portfolio are EMTECH and Rheaply.

Funding stage: Pre-seed – Series A

Total funds raised: $66M

Total number of investments: 40

Contacts: LinkedIn, Pitch page

5. Debut Capital

➡️ Debut Capital is an early-stage VC focused on investing in Black, Latinx, and Indigenous founders. With Ami Cole, Qualifi, and Totem in their portfolio, they fund in the data and knowledge, media, commerce, and infrastructure sectors.

Type: Micro VC, Venture Capital

Total number of investments: 50

Contacts: LinkedIn, Contact-us page

The VC industry has missed out on fantastic companies by overlooking diverse founders. By embracing diversity, we unlock tremendous economic potential.
Joelle Kayden, Managing Partner at Firstime Ventur

6. Black Operator Ventures

➡️ Black Operator Ventures is a seed-stage venture fund backing Black founders. Though generally sector agnostic, it invests up to $1.5 million in seed rounds for software and tech-enabled companies. 

Funding stage: Early stage, Seed

Average check size: $100K-$1.5M

Total funds raised: 13

Total number of investments: 8

Notable portfolio companies:  Wyl, Stimulus, StoreCash

Contacts: LinkedIn, Contact-us page

7. The BFM Fund

➡️ The BFM Fund is a micro VC that supports Black founders. Despite its industry-agnostic nature, the BFM Fund invests around $50K-$100K in seed-stage startups with consumer products and services, gaming, and health tech. Beyond money, VC provides an investor network and world-class mentorship.

Funding stage: Seed – Series A

Total funds raised: 3

Total number of investments: 10

Notable portfolio companies:  Saysh, Hued

Contacts: LinkedIn

8. Level Up Ventures

➡️ Level Up Ventures is a New York-based VC founded by Black and Latino entrepreneurs. It backs tech startups across industries with $300K pre-seed/seed investment.

Total number of investments: 9

Notable portfolio companies:  BoxedUp, ShearShare, ConnectCareHero

Value beyond money: 

  • Level Up connects its entrepreneurs with experienced mentors and scouts and provides access to Hearst’s vast network and resources.

Contacts: LinkedIn, Contact-us page

9. TMV

➡️ TMV is an early-stage VC that invests in enterprise software, fintech, climate tech, and healthcare sectors. It has helped 60 public companies for eight years and closed 8 M&A deals.

Type: Venture Capital

Funding stage: Early stage

Total funds raised: $11.2M

Notable portfolio companies: Freightify, Casper, Bravely

Contacts: LinkedIn, Contact-us page

10. Open Opportunity Fund

➡️ Open Opportunity Fund is an early-stage VC launched in 2020 by SoftBank. With $250M under management, it invests in Black and Latino tech founders. Their portfolio boasts notable names like Atomic, Brex, and more.

Total number of investments: 62

Number of exits: 7

Notable portfolio companies: Resilia, Career Karma, Cityblock Health

Contacts: LinkedIn, Contact-us page

11. Pipeline Angels

➡️ Pipeline Angels is an angel investor group that funds trans women, cis women, nonbinary, two-spirit, agender, and gender-nonconforming founders. Since 2011, it has invested over $8M in 120+ companies.

Funding stage: Seed

Number of exits: 5

Notable portfolio companies: Mahmee, GoNanny, KEKO

Value beyond money: 

  • Pipeline Angels’ Bootcamp is an angel investor program for beginners. It includes workshops on due diligence, valuation, and practice in collaboration with mentors by investing alongside the class in startups chosen through a pitch summit. You can join here.

Contacts: LinkedIn, Email

12. Angeles Investors (U.S.)

➡️ Angeles Investors (U.S.) is a major U.S. angel investor group that funds Hispanic and Latino-led startups. Beyond the money, it offers Accredited Investors and Associate Investor Membership. Among the most notable companies in their portfolio are Certiverse, Story Book, and Finix. 

Type: Angel Group

Funding stage: Seed

Total number of investments: 14

Number of exits: 2

Contacts: LinkedIn, Contact-us page

13. Founders First Capital Partners

➡️ Founders First Capital Partners is an early-stage VC and financial services company. It supports inclusive businesses led by women, people of color, Hispanics, LGBTQ+, military veterans, diverse teams, and businesses in low to moderate-income areas. 

Total funds raised: $120M

Total number of investments: 3

Notable portfolio companies: Welcome Homes, Prof360, Walnut

Value beyond money: 

  • Founders First — is the largest national platform for growing businesses led by diverse founders. It offers strategic expansion programs, coaching, and grant resources to help grow to $10M and beyond.
  • Advisory Services offers 1:1 coaching with a world-class business coach and helps build a 3-year growth playbook.

Contacts: LinkedIn, Contact-us form

14. Backstage Capital

➡️ Backstage Capital funds early-stage startups led by women, people of color, and LGBTQ+ individuals. Since 2015, with $41M under management, it has helped over 150 public companies.

Type: Micro VC, Venture Capital

Number of exits: 2

Notable portfolio companies: Career Karma, Fairly AI, Sote

Contacts: LinkedIn, Contact-us page

The future of VC is diverse. By backing a wider range of founders, we build a stronger, more innovative, and more prosperous tomorrow.
Resha Khambaty, Founding Partner at All Raise

15. Precursor Ventures

➡️ Precursor Ventures is a classic seed-stage VC from San Francisco. With nine years of experience and $46.2M in funds, it invests primarily in B2B/B2C software applications and hardware.

Ethnicity:  Black, Hispanic

Type: Micro VC, Venture Capital

Average check size: $250K-$500K

Total number of investments: 417

Number of exits: 35

Notable portfolio companies: Clearco, Carrot, KUDOS

Contacts: LinkedIn, Email

16. Humble Ventures

➡️ Humble Ventures is a North Carolina-based venture capital firm. Since 2014, it has provided non-diluting grants, equity investment, or revenue-sharing for real estate, retail, and entertainment startups.

Funding stage: Seed – Pre-seed

Total number of investments: 2

Contacts: LinkedIn, Work with us page

17. Base Ventures

➡️ Base Ventures is a seed-stage tech VC founded in 2013. With $10M AUM, it has backed 107 startups, including PlanGrid and Space Perspective.

Type: Micro VC, Venture Capital

Number of exits: 23

Notable portfolio companies: Gecko Robotics

Contacts: LinkedIn, Pitch us page

18. Kapor Capital

➡️ Kapor Capital is an Oakland VC firm investing in early-stage tech startups led by women and people of color. They target sectors like EdTech, future of work, and climate tech with a minimum investment of $100K.

Total funds raised: $126M

Total number of investments: 274

Number of exits: 57

Notable portfolio companies: Asana

Value beyond money: 

  • Exclusive resources & training, connecting talent with founders, establishing goals & additional support.

Contacts: LinkedIn, Contact-us page

19. KEC Ventures

➡️ KEC Ventures is an early-stage VC firm built for founders by founders in NYC. For 13 years, it has helped over 70 public companies and closed 12 M&A deals. 

Total funds raised: $165M

Notable portfolio companies: Fabletics

Contacts: LinkedIn, Email

20. EchoVC Partners

➡️ EchoVC Partners is a tech-focused early-stage VC. Originally from Nigeria, it is now in 12 countries, including the US and the UK. In its 13 years of operation, it has backed 49 companies and had six successful exits. 

Total funds raised: $26.7M

Notable portfolio companies: Gro Intelligence, WhereIsMyTransport, Octamile

Contacts: LinkedIn, Contact-us page

21. Halogen Ventures

➡️ Halogen Ventures is an early-stage VC that invests in women-led companies. Headquartered in Los Angeles, it targets the consumer technology and strategic B2B software sectors. 

Total funds raised: $31.4M

Total number of investments: 111

Number of exits: 12

Notable portfolio companies: Metropolis, Wthn, Ellevest, Babylist

Value beyond money:

  • Fellowship — summer fellowship for aspiring VCs, addressing gender and diversity issues.

Contacts: LinkedIn

22. Elevate Capital

➡️ Elevate Capital is a Portland-based VC firm exclusively investing in women, minority, and veteran-founded startups. With $34.7M under their belts, they target early-stage startups in healthcare, life sciences, cleantech, and beyond.

Average check size: $100K-$2M

Total number of investments: 53

Number of exits: 4

Notable portfolio companies: TrovaTrip, Bacon, Wripple

Contacts: LinkedIn, Contact-us page

23.  New Money Ventures

➡️ New Money Ventures is an early-stage VC firm headquartered in LA. It invests in high-growth, game-changing consumer brands and provides hands-on expertise to help them scale and grow.

Total funds raised: $20M

Total number of investments: 5

Notable portfolio companies: Crown Affair

Contacts: LinkedIn

24.  Rogue Women’s Fund

➡️ Rogue Women’s Fund is a Texas VC firm that invests in early seed-stage women-led companies. The firm focuses on tech and healthcare and generally aims for 12 investments per fund. Among notable portfolio companies are SerpaCloud and Edify.

Total funds raised: $5M

Total number of investments: 11

Number of exits: 2

Value beyond money: 

  • In partnership with Venture Fuel, Rogue Women hosts invite-only events for executives, founders, and investors to connect, share ideas, and propel growth.

Contacts: Email

Innovation thrives on diversity VC. When we have a wider range of voices at the table, we get more creative solutions and a better chance of disrupting the status quo.
Arianna Huffington, Founder of Thrive Global

25.  Springboard Growth Capital

➡️ Springboard Growth Capital backs growth-stage (Series C) consumer and tech companies led by women. Some of their successful investments include ClassPass and Aquis.

Total funds raised: $10.6M

Total number of investments: 11

Number of exits: 3

Value beyond money: 

  • The accelerator program focuses on finding promising ventures and fostering a strong female-founder ecosystem.

Contacts: LinkedIn, Email

26.  Vamos Ventures

➡️ Vamos Ventures is a Los Angeles venture capital firm that champions Latinx founders in tech. With $50M under management, it primarily invests in health and wellness, the future of work, fintech, and sustainability sectors.

Total number of investments: 25

Notable portfolio companies: Form Energy, Galileo, Yuvo

Contacts: LinkedIn

27.  WOCstar Fund

➡️ WOCstar Fund is a New York-based VC that empowers women of color in tech. They invest in early-stage startups across health & wellness, supply chain management, media, consumer products, fintech, education technology, and agricultural technology sectors.

Total number of investments: 9

Notable portfolio companies: Flow

Value beyond money:

  • Financial and investment education 
  • Technical assistance
  • Mentorship programs

Contacts: Contact-us page

28.  GingerBread Capital

➡️ GingerBread Capital invests in women-led, tech-enabled businesses across all stages of growth. Since 2016, it has backed 50+ underrepresented founders. Beyond funding, they offer mentorship & networking.

Type: VC

Number of exits: 7

Notable portfolio companies: Tia, Ellevest, TheSkimm

Contacts: LinkedIn, Email

29.  Ganas Ventures

➡️ Ganas Ventures invests in pre-seed and seed Web 2 and Web 3 community-driven startups in the US and Latin America. Founded in 2022 by solo GP Lolita Taub, the firm has a $10M fund and a network of over 83,000 members. Among notable portfolio companies are Latitud, Distribute, and Chptr.

Average check size: $100K

Total number of investments: 7

Contacts: LinkedIn, Pitch-us page

30.  Overlooked Ventures

➡️ Overlooked Ventures is a VC firm led by Janine Sickmeyer, a seasoned investor with 12+ years of experience. It champions pre-seed tech startups with one or more historically overlooked founders (women, minorities, immigrants, etc.) and particularly funds the health, climate, and e-commerce sectors. 

Funding stage: Early stage

Total number of investments: 8

Notable portfolio companies: Govalo, Blooming Health, Lalo, Moment.AI

Contacts: LinkedIn, Contact-us form

Under-represented founders are in the best position yet to make their mark

Backed by mentorships and their unique understanding of high-growth, under-represented markets, founders with greater gender and ethnic diversity achieve 30% higher returns for investors.

If you’re a talented founder from an underrepresented background, there’s never been a better time to seek funding! Assess your startup’s potential with our quick yet powerful investment-readiness quiz. If your scores show promise, arm yourself with valuable sources on how to build a powerful startup story at first.

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Anastasiia

CONTENT WRITER

Hey there! I'm Anastasiia, a Content Writer at Waveup. With my marketing expertise and storytelling magic, I turn complex data and industry insights into your startup playbook, making the business world a breeze for you! At Waveup, I work with brilliant folks who make insights a never-ending flow. So, join, read, and enjoy!