Entrepreneurs of Color: Funding, Momentum & Who’s Getting Backed

A quick note on language: the phrase “colored entrepreneur” has harmful, outdated baggage. On this page we’ll say entrepreneurs of color (inclusive of Black, Latine/Latinx, Indigenous, Asian, Middle Eastern, multiracial, and immigrant founders). The goal here is simple: make it easier to find capital, mentors, and examples that look like you.

We publish a monthly list of startups that raised capital, plus contacts and context. Below is the living, public version: the state of funding, programs that actually write checks, and a snapshot of funded founders and companies to know right now.

The funding reality (and why this page exists)

  • In the U.S., Black‑founded startups received about 0.4% of all venture dollars in 2024—the lowest share in years. Overall venture rebounded slightly; capital to Black founders did not. (Crunchbase News)
  • Latine/Latinx founders saw sharp pullbacks after 2021’s peak; funding to U.S.-based Latine‑founded companies fell dramatically in 2022 and remained pressured into 2023–2024. (Crunchbase News)
  • Women of color continue to raise a tiny sliver of VC; a McKinsey review highlighted just 0.1% of venture dollars going to Black and Latina women founders in the period studied. (McKinsey & Company)
  • Indigenous founders face even steeper gaps; specialized funds are emerging to close them (see Raven Indigenous Capital Partners below). (tribalbusinessnews.com)

Numbers move each year, but the pattern is stubborn. So this page focuses on what you can do today: find aligned programs, meet investors who are active, and study recent, concrete wins.

Where the money is: programs, funds & allies (that accept cold outreach)

Non‑dilutive & ecosystem programs

  • Google for Startups Black Founders Fund (U.S.) — equity‑free capital plus hands‑on product and go‑to‑market support. 2024 cohorts expanded regionally. (Business Wire)
  • Google for Startups Latino Founders Fund — similar model focused on Latine founders.

Pre‑seed/seed investors with a stated focus on underestimated founders

  • Backstage Capital — 200+ investments in women, people of color, and LGBTQ+ founders. (Currently prioritizing portfolio follow‑on.) (Backstage Capital, TechCrunch)
  • Harlem Capital — mission to invest in 1,000 diverse founders; raised larger funds to scale that mandate. (HCP, AfroTech)
  • Kapor Capital — backs “gap‑closing” companies with measurable impact (apply via their site).
  • Visible Hands — operator‑heavy accelerator for underrepresented founders. (Storicard)
  • Collab Capital — Black founder‑focused, community + capital model. (fintech.global)
  • Lightship Capital — invests in underrepresented founders across the Midwest and beyond. (TechCrunch)
  • Raven Indigenous Capital Partners — Indigenous‑led VC backing Indigenous and Native American founders across the U.S. and Canada. (Raven Indigenous Capital Partners)

Legal climate watch: some identity‑targeted grant programs (e.g., Fearless Fund grants for Black women**)** have faced litigation in the U.S. south; follow developments if you’re applying. It doesn’t change your right to build and raise, but it can affect specific grant eligibility windows. (FEARLESS FUND, TIME)

Funded startups to know (and what they did right)

We pulled recent, verifiable financings across sectors. Use this as a starting list when you’re mapping comps, angels, and later‑stage partners.

  • Calendly (Tope Awotona — B2B SaaS, scheduling)
    Raised $350M in 2021 at a $3B+ valuation to scale product and provide liquidity—after years of capital efficiency. Investors included OpenView and Iconiq. (TechCrunch, PR Newswire)
  • Esusu (Abbey Wemimo, Samir Goel — fintech/rent‑credit)
    $130M Series B in 2022 led by SoftBank Vision Fund 2; entered unicorn territory at $1B valuation. Clear mission, regulated market, strong landlord partnerships. (TechCrunch, Esusu)
  • Squire (Songe LaRon, Dave Salvant — vertical SaaS for barbershops)
    Raised repeatedly through 2021, including a $60M extension at a reported $750M valuation—by owning a niche and scaling payments. (experimentationmachine.com)
  • CloudTrucks (Tobenna Arodiogbu — logistics/fintech)
    $115M Series B at an $850M valuation to expand a virtual carrier for owner‑operators; Tiger Global led. Great example of “software + financial tooling” for blue‑collar SMEs. (Business Wire)
  • Partake Foods (Denise Woodard — CPG, allergy‑friendly snacks)
    $4.8M Series A (2021) with a purpose‑aligned cap table (Rihanna, Marcy Venture Partners, CircleUp) and then $11.5M Series B (2022) to scale distribution. (Partake Foods, TechCrunch)
  • SUMA Wealth (Beatriz Acevedo — fintech, bilingual money app)
    $19M growth round (2024) to serve U.S. Latine households with culturally fluent financial tools; strong media + community engine. (mogulmillennial.com)
  • Cheekbone Beauty (Jenn Harper — Indigenous‑founded beauty)
    Early funding from Raven Indigenous Capital Partners (e.g., $350K initial investment) helped scale sustainable cosmetics and distribution. (CosmeticsDesign.com, corporateknights.com)
  • Totem (Amber Buker — banking for Native communities)
    $2.2M pre‑seed to build a neobank by and for Native Americans; a case study in designing products for sovereignty and community needs. (exbogroup.com)
  • Airtable (Howie Liu — horizontal no‑code platform)
    $735M Series F (2021) at an $11B valuation—proof that immigrant/Asian‑American founders also face bias but can scale to category‑defining outcomes. (For The Record)

Want us to include your round? Send your press release or publicly verifiable funding link to our editorial team and we’ll review it for the next monthly list.

Practical next steps if you’re raising this quarter

  1. Build a tight seed/Series A deck. YC’s canonical structure is still a good default; pair it with hard metrics (retention, payback, gross margin) and a specific use‑of‑funds model. (Y Combinator)
  2. Pressure‑test the deck with data. DocSend’s research shows investors now skim fewer slides for longer—prioritize traction, market, and why now. (docsend.com)
  3. Target capital that fits your stage and identity—but don’t limit yourself. Apply to programs like Google for Startups while also building a mainstream pipeline (sector‑specialist funds, angels, and customer‑investors). (Business Wire)
  4. Know the DEI legal backdrop. Race‑targeted U.S. grants are being challenged; most investments are not. If a grant you’re pursuing is paused, ask the sponsor for a race‑neutral path (income, geography, first‑gen criteria). (TIME)
  5. Plug into peer communities. BLCK VC (for investors and operator‑angels), SomosVC/LatinxVC‑adjacent communities, and similar groups multiply warm intros. (BLCK VC, somos.vc)

People and orgs that open doors

  • BLCK VC — education and networks for Black investors (and founders who want to angel). Check out Black Venture Institute. (BLCK VC)
  • SomosVC — community for Latine investors; events and fellowships that often include founder access. (somos.vc)
  • Raven Indigenous Capital Partners — Indigenous‑led capital with a culturally centered model (portfolio and application info public). (Raven Indigenous Capital Partners)

How to use this page (and the redirect)

  • If you landed here via coloredentrepreneur.com: you’re in the right place. Bookmark this hub and join our mailing list to get the monthly funding list of startups founded by entrepreneurs of color—with round details and key contacts.
  • If you’re featured above: we’re happy to add corrections or a better source link—send us your press release or investor note.

Citations & further reading

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