This fund seeks early-stage, tech-enabled startups headquartered in Chicago, led by founders who have faced material barriers to accessing capital due to racial discrimination, for an equity investment. The fund targets companies at the Friends & Family stage that have raised less than $25,000 in equity capital. Investments are made under a SAFE agreement with a $4M post-money valuation cap and a 20% discount rate. The application process includes a written application, video submission, and live interview, with a focus on fair and consistent evaluation.
Eligibility requirements
At least one co-founder who has faced material barriers to accessing capital due to racial discrimination
Company headquartered in Chicago
Friends & Family stage startup
Tech-enabled software business with venture-scale potential
Less than $25,000 previously raised in equity capital (wired equity investments only)
Corporation or LLC business entity
How to apply
Written application
Short pre-recorded video submission (for selected founders)
Live interview
Pitch deck
Confirmation of eligibility criteria
What you get
$25,000 investment under a SAFE agreement
$4M post-money valuation cap
20% discount rate
Efficient, rubric-based evaluation process
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