Bumble, the tech company and dating app that puts women first, has announced the launch of Bumble Fund – a form of venture capital that will primarily benefit businesses lead by women of colour and those from underrepresented groups.

With a focus on early-stage investments, Bumble Fund’s strategy will be headed up by the company’s CEO Sarah Jones Simmer and senior advisor Sarah Kunst.

Announcing the launch of the fund, Bumble explained: “In 2017, startups with women at the helm received just 2% of all venture capital funding. For black, Latinx, and other women from underrepresented groups, that statistic is even more bleak. Black women are both the most educated and most entrepreneurial demographic in the U.S., but received only 0.2% of all venture funding for their startups last year.”  

The first recipients of the fund include beauty festival & conference BeautyCon, the Female Founders Fund and swimwear brand Sofia Los Angeles.

Those interested in applying for funding will have the opportunity to do so this autumn.

Source

Posted by:Carly Lewis

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