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Black Tech Nation Ventures's diversity thesis undeterred by growing DEI backlash

TechCrunchTechCrunch · 9m
Black Tech Nation Ventures's diversity thesis undeterred by growing DEI backlash

Black Tech Nation Ventures (BTNV) has raised $50 million for its debut fund, aimed at funding pre-seed and seed-stage software startups led by underrepresented groups, including Black, female, and LGBTQ+ founders. Backed by investors like Alphabet and Mark Cuban, the Pittsburgh-based venture firm initially closed $25 million in funding in 2021. However, market conditions and a decline in diversity investing made the second half of fundraising difficult. Despite the pushback against diversity initiatives, BTNV remains committed to its mission and aims to provide top-tier returns while supporting underrepresented founders. The firm has made 10 investments so far and focuses on enterprise software solutions in various sectors.

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