Cherryrock Capital has raised $172 million to support diverse founders. The venture capital firm, founded in 2023 by Stacy Brown-Philpot (Managing Partner) — head of Alphabet Inc.’s online sales and operations in India and board member at HP Inc., StockX, and Noom Inc. — provides Series A and B funding to underrepresented founders of software companies driving innovation, according to its website. The VC firm, backed by a team with over 60 years of operating experience, has closed its first fund at $172 million, Bloomberg reports. “Today, I’m thrilled to announce the launch of Cherryrock Capital, the first fund focused on investing at the Series A & B stages in underinvested entrepreneurs …Cherryrock Capital is about being the foundation of success for the next generation of entrepreneurs…We’re on a mission to change the face of wealth creation and build an enduring institution. We are looking for founders who have the courage to be audacious in their vision, accountable to their...

The rhythm of ambition often starts quietly—a hum of potential that builds into a bold symphony. For IntusCare, the journey began in the halls of Brown University, where co-founders Evan Jackson and Robbie Felton turned their vision for eldercare into reality, with Stevie Wonder’s song “Sir Duke,” setting the tone for their path forward. Much like a timeless Stevie Wonder groove that lingers long after the music fades, IntusCare’s journey from pitch competitions to industry innovation has been driven by harmony, persistence, and an unwavering belief in its mission. Rooted In Mission: A Personal Commitment To Equitable Care Founded five years ago, IntusCare set out to disrupt the healthcare status quo and deliver high-quality care to low-income older adults — a population often left behind by systemic inequities. Their mission is deeply anchored in serving diverse, marginalized communities, including Black, Latino, and Asian American populations, who have historically faced...

Joanna Brooks has been creating a safe wellness studio for people of color for the past 10 years. She developed an interest in yoga as a teenager and, over time, explored different areas of fitness, she wrote in her LinkedIn bio. This exploration influenced her practices, which include Bikram Yoga, Hot Vinyasa Flow, Vinyasa Flow, Ashtanga, and Yin Yoga, ultimately leading to the establishment of Embody YOGA studio in Milwaukee, WI. “These styles contribute significantly to my teaching style. I am experienced in leading both group and private classes and enjoy working with people of all ages. My intention is for my students to leave class with a quiet sense of strength and peace,” she wrote in her bio. View this post on Instagram A post shared by Embody Yoga (@embodyyogamke) In an Instagram post shared on Tuesday, Feb. 18, Brooks honored the instructors who came before her, giving them their flowers for paving the way — including ZenZen Yoga Arts Founder Therese Bailey. “I’ve said it...

Former PepsiCo President and entrepreneur Derek Lewis has added another franchise to his portfolio. Lewis secured a deal with Big Dave’s Cheesesteaks, granting him ten locations in Central Florida, AFROTECH™ previously told you. He is also the restaurant’s first franchisee, which Derrick Hayes founded. According to information shared with AFROTECH™, Lewis celebrated the grand opening of two locations at Camping World Stadium in November 2024. “This expansion represents our commitment to bringing authentic Philly-style cheesesteaks to sports and entertainment venues across Florida,” said Derek Lewis in a news release. “We’re creating more than just restaurants; we’re building community gathering spots where food brings people together.” More recently, Lewis partnered with Philly Pretzel Factory and is spearheading its expansion throughout the Orlando area. “Soft pretzels are woven into Philadelphia’s cultural fabric, and I’ve craved their distinctive taste since childhood,” said...

Black Unicorn Factory has set a historic precedent in equity crowdfunding. Black Unicorn Factory (BUF) is a business development accelerator and equity crowdsourcing platform established by Johnny Stewart in 2012. Through BUF’s Follow Me for Equity app, it uniquely allows individuals to secure stock in pre-IPO companies by simply becoming a follower of a company through the app. “Stop following for free and earn equity,” actor Anthony Anderson said in a promotional video for the company. BUF’s target audience is underserved communities who are being left out of opportunities in the venture capital space. “It is disheartening to observe that the venture capital industry only allocates funds to a mere 1% of businesses led by individuals from underrepresented communities. At BUF, we firmly believe that this disparity cannot persist, and we are committed to providing an alternative to the discriminatory practices prevalent in the traditional venture capital landscape,” a statement on...

Issa Rae refers to Sienna Naturals’ expansion with Sephora as a “dream come true.” Rae co-founded the award-winning hair care brand Sienna Naturals, which was first envisioned by Hannah Diop in 2012. Diop, reflecting on her own challenges in finding hair products that met her needs, recalls how clarifying shampoos fell short in restoring her hair’s health during her time on the swim team. This firsthand experience played a pivotal role in shaping Sienna Naturals, a brand founded on a proprietary clean chemistry approach that prioritizes scalp health , according t o the brand’s website. The haircare line is powered by hydrating, abiotic, pH-balanced ingredients (H.A.P.I.). “The first impression I want people to have when they use Sienna Naturals is how beautiful their hair is. So that wet-feel design is very intentional,” Diop told AFROTECH™. Photo Credit: Sienna Naturals When Rae discovered Sienna Naturals, she was in the process of learning how to best care for her natural hair...

Dave’s Hot Chicken is considering a sale that would bring the company’s valuation to nearly $1 billion. The popular fast-food chain, founded by Dave Kopushyan, Arman Oganesyan, Tommy Rubenyan, and Gary Rubenyan, has locations in states such as Arizona, Massachusetts, California, Missouri, and Texas. In total, the chain has over 250 locations worldwide, per Reuters. It all started in 2017 with a $900 investment that led to the restaurant’s grand opening as a pop-up in an East Hollywood, CA, parking lot, its website mentions. Its menu features chicken tenders and sliders with spice levels ranging from Lite Mild to Reaper. Sides include fries, mac and cheese, and kale slaw. View this post on Instagram A post shared by DavesHotChicken (@daveshotchicken) The company’s business model appears to be a success with each franchise earning on average $2.19 million in revenue (AUV) per year, according to Sharp Sheets. In total, its locations generate an estimated $1 billion in total annual...

Common, born Lonnie Rashid Lynn Jr., is a multi-talented artist who has made a significant impact not only in the music and film industries but also in business and philanthropy. With a career spanning over three decades, Common has transcended the typical rapper persona to become an influential figure in Hollywood and the entrepreneurial world. In 2025, his net worth continues to grow due to his diverse ventures and his commitment to social change. So, how much is Common worth in 2025? Let’s explore the trajectory of his career, his business ventures, and his philanthropic efforts, which are integral to his financial success. The Early Years And Breakthrough In Hip-Hop Born and raised in Chicago , Common began his music career in the early ’90s, initially releasing Can I Borrow a Dollar? in 1992. However, it was his critically acclaimed album Resurrection (1994) that introduced his poetic and socially conscious style to the world. Tracks like “I Used to Love H.E.R.” cemented his...

The Black-owned water bottle brand SUPLMNT welcomes NBA player Gary Payton II as its latest investor. The brand was founded in 2020 by South Philadelphia, PA, native Jairus Morris, who aims to improve hydration in Black and brown communities. His journey as a founder was inspired by his mother, who took on multiple jobs to support the household of five children. “I grew up in a South Philly single-mother household with four siblings. My mother was my first inspiration and motivation to want to be an entrepreneur,” he said in an interview shared on Medium. “She always tried side hustles to bring in extra income for my family; whether it was selling Mary Kay or braiding hair, she did it. Moving us out of the ghetto in South Philly to a suburb in New Jersey was the best thing she could have done. It exposed me to see that there was so much more to life outside of the hood.” As an adult, he also mentioned recognizing disparities around health and wellness, which further inspired his...

Several Philadelphia, PA , businesses have been passed down through generations, including Paul Beale’s Florist. According to our sister site, Travel Noire, the florist shop, founded by Paul and Altermese Beale in 1971, has spent nearly five decades cultivating a loyal customer base. For Paulette Beale Harris, the second-generation owner, carrying on the family’s legacy isn’t a responsibility she takes lightly. She emphasized that she doesn’t want her parents’ hard work and sacrifices to be “in vain.” In honor of Black History Month , Visit Philadelphia has launched a four-part video series titled “Legacy & Love.” The series highlights Black-owned businesses that span generations and the families behind them, as well as businesses launched to honor loved ones, Travel Noire highlighted. The videos, available on visitphilly.com , feature the stories of the Beale family, Lori Thomson and her mother, Vera Doyle from Vera Doyle Boutique, Yvonne Blake and her granddaughter Alana Rambera...

Megan Thee Stallion has stepped into the spirits industry following advice from Beyoncé. The “Savage” rapper, born Megan Pete, has long admired the fellow Houston artist and credits their first interaction in 2020 with a major career milestone. “My favorite moment was definitely meeting Beyoncé. I met her first in 2020, I think. Every time I see her, I act like a little kid. And I really need to stop that at this point. Like I’m always fanned out,” Megan Thee Stallion told Forbes. Beyoncé’s support for Megan goes beyond music. In addition to their collaboration on the hit record “Savage Remix,” which they performed during the “Renaissance World Tour” in Houston, TX, Beyoncé has also shared valuable business advice — encouraging Megan to launch her own spirits brand. Leading by example, in 2024, Beyoncé made her official debut in the spirits industry with the launch of SirDavis in partnership with Moët Hennessy. The brand offers an American rye whiskey that pays homage to her...

Boston Celtics star Jaylen Brown remains committed to supporting Black-owned businesses, empowering communities of color, and fostering generational wealth along the way. On Feb. 14, 2024, Brown announced the launch of OaklandXChange, a sister project to his nonprofit, BostonXChange (BXC). Jaylen Brown announces a new business district and incubator program as part of his Xchange fund in a speech at a community luncheon at Oakstop in Oakland pic.twitter.com/kZwpd0HYEM — Celtics on CLNS (@CelticsCLNS) February 14, 2025 Founded in 2024, BXC aims to create $5 billion in generational wealth within Boston, MA’s communities of color, AFROTECH™ previously reported. The organization provides funding, resources, workplaces, and mentoring from seasoned individuals to Black and minority entrepreneurs, helping them launch businesses that contribute to sustainable economic growth . According to Sports Illustrated, OaklandXChange, which launched in partnership with Jrue and Lauren Holiday’s JLH...

JPMorgan Chase has begun removing any mention of its DEI efforts from its website, according to The Wall Street Journal. As AFROTECH™ previously mentioned, the bank’s CEO, Jamie Dimon, had vowed to maintain its commitment to diversity, equity, and inclusion (DEI) as well as environmental, social, and corporate governance (ESG) policies, despite pushback from the conservative National Legal and Policy Center (NLPC). The center had also suggested that JPMorgan Chase, which employs 300,000 people globally, reexamine executive compensation tied to DEI goals — an initiative it introduced in 2020 through its “accountability framework.” That same year, the company had launched a $30 billion program to promote racial equity in personal finance as well. In response to the recent pushback, Dimon said at the World Economic Forum in Davos, Switzerland, last month, “Bring them on. We are going to continue to reach out to the Black community, the Hispanic community, the LGBT community, the...

Breakr continues to find new ways to improve the creator economy. As AFROTECH™ previously reported, the platform was created by Historically Black College and University (HBCU) alums and brothers Anthony and Ameer Brown to ensure artists can connect with brands and agencies and establish creative campaigns they are compensated for. With an early focus on music, Breakr partnered with BMG and Sony Music and built a roster of clients that included Ye (formerly Kanye West), Young Thug, Megan Thee Stallion, Rick Ross, Future, and Gunna. Additionally, Nas is involved not only as an artist on the platform but also as an investor. He participated in a $4.2 million seed round led by Slow Ventures in 2021. Breakr has expanded its scope beyond the music industry, adding partners such as Hershey, Billboard, Celsius, Samsung, and UMG, information shared with AFROTECH™ notes. In 2022, 30,000 creators had onboarded onto its platform. In 2025, that number has more than doubled, reaching a community...

Six years after opening, a Philadelphia, PA, pizza shop continues its mission of providing a fresh start and making life easier for former inmates . According to NBC News, the seven-member staff at Down North Pizza consists entirely of formerly incarcerated individuals, including executive chef Michael Carter. Carter was searching for a new beginning after losing his job during the COVID-19 pandemic and selling barbecue meals off his porch. “When I add up the guys who work here, it’s about 63 years incarcerated. So it’s like we understand each other, where we come from,” Carter told NBC. “We had the same barriers when we came home, like whether it be employment, housing, health care — we all had to figure it out.” Carter was one of the first hires at Down North with experience in the kitchen, AFROTECH™ previously reported. Childhood friends Kurt Evans and Muhammed Abdul-Hadi founded the North Philly staple, hoping to reduce recidivism rates in the area. The restaurant serves pizza,...