Melissa Bradley set out on a mission to address the lack of financial resources available to Black founders in Washington, D.C., and ultimately surpassed even her own expectations in achieving this goal. She created a national organization called 1863 Ventures, a name that pays homage to the year of the Emancipation Proclamation, symbolizing the organization’s commitment to economic empowerment and social justice. 1863 Ventures has helped various businesses reach over one million dollars.
Before her successful organization became a vast resource for many Black founders, Bradley had always had an eye for business. After receiving her Bachelor of Science in Finance from Georgetown University in 1989, she received her master’s degree in business administration (MBA) in Marketing at American University in 1993. Bradley’s education prepared her to pursue a life of entrepreneurship, even if it included dealing with complex societal realities. On Nov. 14, during the session “Founder’s Summit: Knowing When to Seize the Moment for Company Growth,” the entrepreneur shared with AFROTECH how an experience of discrimination while seeking funding for her first business taught her a valuable lesson in perseverance, ultimately leading to the creation of 1863 Ventures.
“I went to the SBA [small business administration] to get a loan for my first business. The people there told me no because I was a woman, Black, and a female. I was in debt at the time because I just graduated from Georgetown. After hearing that, I easily could have gone down the elevator and said, ‘Screw it, let me go get a job.’ Because I did have a job at the time. Instead, I thought to myself, ‘ If I’m successful, I want to make sure this doesn’t happen to anybody else.’ We have so many founders of color who are getting told no, and they stop. But don’t stop at the no if you truly believe in it.”
Bradley mentions that this pivotal moment was important for her. It further demonstrated that while entrepreneurship is a solo endeavor, the main ingredient to success is working with others as a team.
In 2015, Bradley initially created 1863 Ventures to focus on local solutions for local founders. Bradley and her team set out to connect with other Black founders who are making well over a million dollars to bridge the gap in finding federal funding opportunities. While many founders who make less than the previously mentioned amount can support funding efforts, Bradley was and still is dedicated to truly addressing the cash flow problems that people are experiencing.
“We decided to round up as many founders as we could and demonstrate to the city that they needed to readjust that program regarding funding businesses. Initially, this was a policy play. We made a deal with them that they would change their policy if we found 500 founders in three years. Fast forward, we found 534 founders in 18 months. If you leap forward to several years later, we then end up running the venture capital Fund for the District of Columbia.”
By creating a network and proving that there is power in numbers, 1863 is now a leading provider of accelerating programs. It is dedicated to empowering founders of color to reach their desired milestones within 12 to 18 months. According to their website, 1863 Ventures has generated a combined portfolio of $200 million in revenue and has raised $2 million in equity investments alone.
Not only does the founder believe in teamwork for success, but she also believes in dismantling the notion of keeping a business forever. As a business owner, it is important to know that when scaling for growth, you need to have a planned exit strategy.
“I always tell founders, if you are going to have an exit, even if it’s you buying your shares back, you’ve got to name that at the beginning so that you are very clear about what your journey is going to be. When you do that, you can put up guardrails so you don’t get distracted,” Bradley explained.
She added, “For example, I’ll take the company that I started called Eureka. We started a small business platform. It was myself and two other co-founders. This business was specifically based on the work I had been doing in 1863. So, it was a multi-platform that had community content and capital. When we started, we were very clear that this was not about us being in business forever. This was about how we send a signal effect that investing in different founders, female andpeople of color, was a viable option. For five years, we were venture-backed usage. We had higher usage rates and traction than Twitter and Facebook. Using those metrics, we had one investor who wanted to acquire us. So, we had planned our exit strategy on set. Then, we ended up having two potential people wanting to buy the company, and we ultimately sold it.”
The CEO is driven to both scale companies and educate the next generation. Within 1863 Ventures, Bradley hosts the New Majority Summit, a one-day event for attendees to learn key skills around entrepreneurship, their specific customer base, scalable processes, financial management strategies, and fundraising techniques, per the website. By shifting from the traditional term “minority” to “new majority,” like-minded individuals are empowered to redefine the rules of business while fostering a strong, supportive community.
As she continues to work with aspiring entrepreneurs in the real world, Bradley also helps in the classroom. Outside of 1863 Ventures, Bradley returned to her alma mater and currently serves as an adjunct professor at the McDonough School of Business at Georgetown, teaching social entrepreneurship, impact investing, peer-to-peer economies, and innovation.
