Black Tech Nation Ventures creates fund to support Black techprenuers nationwide

Multifaceted tech organization Black Tech Nation is creating a fund to support Black tech entrepreneurs across the U.S.

The organization says it is building a #DigitalWakanda through strategic platforms like education, digital media, recruitment, and funding to support Black coders, creators, innovators, educators, and entrepreneurs.

Black Tech Nation general partner Kelauni Jasmyn told Techcrunch that the goal of the organization is to get funds across to more Black people. The Black Tech Nation Team has tirelessly worked hard to make this goal a reality through its newly-launched $50 million first fund with the help of other general partners.

In addition to the $50 million fund, the Black Tech Nation team has plans to make seed and Series A investments in software startups across the country, especially those in Silicon Valley. This could be software services such as B2B or B2B2C. The ideas can either be pre-revenue and pre-product, but they must be “scalable and lend themselves to significant value creation.”

“We’re really at the beginning of something brand new, that I think will be historic and offer a literal economic shift for the Black community in building generational wealth,” Jasmyn said. “We get to be the ones who mold the foundation of that.”

Fellow GP and partner and seed fund Birchmere Ventures Sean Sebastian told TechCrunch that in addition to Jasmyn’s expertise, he and fellow GP David Motley would also support with educating the new generation on Black investors through a “transfer of knowledge”. Motley is the co-founder of BlueTree Venture Fund and African American Directors Forum.

While the team is interested in helping Black entrepreneurs, it is also interested in seeing financial returns for the entrepreneurs.

“We are no different than any other fund just because you put a specific community around it,” Jasmyn said. “You shouldn’t expect any less valuable returns. We just happen to have the advantage of untapped potential.”

In a nutshell, Black Tech Nation is an organization dedicated to serving the “Black Tech Unicorns” of this generation to provide them with the necessary financial and social support they need. And providing access to a large network of tech professionals in the industry as well as resources.

Motley says that Black Tech Nation “gives us more opportunities to say yes.” He suggested that investing in Black tech entrepreneurs is an opportunity to “take the Black Tech Nation platform and combine it with the Birchmere platform.”