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Pharrell Williams is taking significant steps to address the equity gap in entrepreneurship through his initiative, Black Ambition. According to an April 14, 2025, news release, the nonprofit is launching the Fundable Founders Learning Lab, a comprehensive 10-week virtual program designed to support entrepreneurs across Florida, with an emphasis on those from underrepresented communities . With a $1 million investment from an anonymous donor, the initiative is part of a two-year effort to counter dwindling resources for small business owners by providing 500 Florida-based entrepreneurs with access to capital, mentorship, expert training, and a robust network. “Entrepreneurs are facing unprecedented challenges—from shrinking access to capital to dwindling community resources,” said Black Ambition CEO Felecia Hatcher. “This $1 million donation is more than just funding—it’s fuel for a new generation of fundable founders building bold, innovative solutions right here in Florida.”...
Former NBA player Jason Kidd has invested in another soccer team. As AFROTECH™ previously told you, the 10-time NBA All-Star and current head coach of the Dallas Mavericks has continued to pursue his passion for sports well beyond his playing days. As an investor, his portfolio includes two soccer teams based in his hometown of Oakland, CA: Roots SC (men’s) and Soul SC (women’s). “In The Town when you talk about sports, we all had heroes. I’m excited to join the Roots and Soul family,” Kidd said at the time, according to Andscape. “I’ve been seeing videos of all the support they get. I’m just trying to help the family. I especially like that there are both male and female teams. Also, with the teams being in The Bay, I felt like it was a great fit.” Everton Added To Portfolio Now, Kidd has invested in another soccer team, this time joining Roundhouse Capital Holdings, which is part of The Friedkin Group, the ownership group of English Premier League club Everton, mentions ESPN. The...
The Primary School, a tuition-free private institution co-founded in 2016 by Priscilla Chan, the wife of Mark Zuckerberg , to support diversity, equity, and inclusion (DEI) values, is set to close at the end of the 2025–2026 school year. According to a statement on its website announcing the closure, Chan and late educator Meredith Liu established the school, which has campuses in East Palo Alto and East Bay, CA , “on the guiding principle that raising a child is a team effort” and the decision to close came “after much deliberation.” “Too often, our country’s systems of care are siloed and don’t adequately address a child’s varied needs,” the statement read. “The Primary School model breaks down those silos by bringing together the adults in a child’s life — including parents, educators, and health providers — starting from an early age.” The statement continued, “…This was a very difficult decision, and we are committed to ensuring a thoughtful and supportive transition for...
A resource for minority-owned businesses may be impacted due to a new round of federal job cuts. Inc. reports new changes are underway at the Minority Business Development Agency (MBDA), which was first established in 1969 by former President Richard Nixon. Under former President Joe Biden’s administration alone, the MBDA helped provide 23,000 jobs and $3.2 billion in contracts to minority enterprises, the outlet notes. The Trump administration sent an email on April 17, 2025, stating that federal grants to the agency, which operated about 38 business centers, were being dismantled, as the administration believes the funding is “no longer consistent with the agency’s priorities and no longer serves the interest of the United States and the MBDA program.” President Donald Trump’s orders will be a drastic hit to many Black and other entrepreneurs of color. Louisiana’s business center, which worked with hundreds of businesses, was told the MBDA is “repurposing its funding allocations...
Harvard University is suing the Trump administration for threatening to withhold federal funding after the university refused to comply with demands the government outlined in a letter dated April 11, 2025. On Monday, April 21, Harvard University President Alan Garber announced the lawsuit filed in U.S. District Court in Boston, MA, in a letter published on the university’s website. In the letter, he said the administration’s demands violate the First Amendment, disregard federal law, and threaten life-saving medical research. “Moments ago, we filed a lawsuit to halt the funding freeze because it is unlawful and beyond the government’s authority,” Garber wrote. “…Before taking punitive action, the law requires that the federal government engage with us about the ways we are fighting and will continue to fight antisemitism. Instead, the government’s April 11 demands seek to control whom we hire and what we teach.” On April 14, the Trump administration’s Joint Task Force to Combat...
Super Bowl champion Marshawn Lynch has invested in another Seattle, WA, team. As AFROTECH™ previously told you, he secured a stake in the NHL’s Seattle Kraken back in 2022. The investment marks a return home, as he also once represented Seattle’s NFL team, the Seattle Seahawks. “This is something I never would have imagined,” Lynch expressed at the time. “I always dreamed of playing on a professional team but owning one is something special. As I look back on some of my accomplishments — I retired before I was 30 and now being an owner of a professional club at the age of 35 – I’m gonna continue to count my blessings.” According to a press release, per CBS 42, Lynch also holds stakes in teams such as Oakland Roots SC of the United Soccer League, the Professional Fight League, the Beasts in the Fan Controlled Football League, and the Bay Area Panthers of the Indoor Football League. He has now added Major League Rugby team Seattle Seawolves to his portfolio, the release states. Lynch...
Twin brothers and co-founders Oliver and Alexander Kent-Braham are now behind a multi-billion-dollar company alongside David Goaté. As AFROTECH™ previously told you, the siblings founded U.K. -based digital car insurance startup Marshmallow to combat “unfair insurance prices” for migrants. “We now help 100,000s of UK newcomers get a fairer deal on their car insurance every year. We do this by building our own technology, developing pricing and fraud models that let us cater to their unique experiences, and investing time in getting to know them on a deeper level,” a statement on the company’s website reads. View this post on Instagram A post shared by Marshmallow (@getmarshmallow) According to TechCrunch, Marshmallow made history in 2021 as one of two Black-founded startups in the U.K. to reach a $1 billion valuation. As AFROTECH™ previously reported, the company raised $85 million in a Series B funding round with investors that included Passion Capital, Monzo, Investec, and...
Being a founder is not an easy journey. James Oliver who is currently behind Kabila, a company connecting underserved founders to co-founders, capital, and community, had his fair share of challenges prior to the venture. In fact, his first startup, WeMontage, failed while he was also navigating the early days of fatherhood — his twin children were born prematurely at just two pounds each via an emergency C-section. As AFROTECH™ previously told you, some of his difficulties were launching his company as a non-technical founder creating software. Two days after his children’s births, he had to attend an accelerator, led by gener8tor, which was a two-hour drive from where he lived in northeast Wisconsin. Ahead of a presentation on demo day, Oliver was greeted by an angel investor group, and they were willing to invest $250,000. “I dropped to my knees and thanked God because everything I was going through at that time was really hard. So that was my introduction to being a parent and...
Yale University students Nathaneo Johnson And Sean Hargrow have launched what they call “the first AI social network.” Business Insider reports that the duo was inspired to found Series because vanity metrics, such as likes and follower counts, were becoming a barrier to connection on platforms such as LinkedIn, X (formerly Twitter), and Instagram. “I see it within our generation, the FOMO, the ‘I’m not good enough, I won’t reach out to that person, he’s better than me,'” Hargrow told Business Insider. “Forget your likes, forget your followers, let’s focus on who you are and what you can bring to the table and what you need, and what somebody else can bring to your table if it makes sense.” In 2024, Series was founded with a focus on student entrepreneurs . The platform allows people to chat with an “AI Friend,” whether they’re using an iPhone or Android, to gauge what kind of connections they’re looking for. From there, the AI agent matches them with another Series user who fits...
The Global Gaming League (GGL), a professional gaming entertainment organization featuring celebrity team owners, has successfully raised $10 million in its SAFE round, led by the private equity group Solyco Capital, according to a news release. Founded by multi-platinum music producer and entrepreneur Clinton Sparks, in collaboration with Grammy Award-winning artist T-Pain and tech visionary Jeff Hoffman, GGL is building the first entertainment system that monetizes the world’s largest and most engaged audience: the more than 3 billion people who play video games. “There are over 3 billion gamers around the world,” Sparks said. “But there’s still no centralized platform that gives everyday players the spotlight—while authentically connecting brands, celebrities, and competition in a way that’s truly entertaining. That’s where GGL comes in.” Each GGL team has four players — including high-profile influencers , actors, athletes, artists, and casual and professional gamers — competing...
In 2025, America’s higher education landscape is being reshaped by a wave of federal funding cuts and political pressure from the Trump administration. Universities across the country are under scrutiny, not only for how they handle civil rights issues but also for their participation in diversity and inclusion initiatives. As a result, many schools have already begun scaling back their scholarship offerings , cutting graduate research funding and even laying off staff. This shift marks one of the most significant challenges to U.S. higher education in decades, particularly affecting institutions that rely heavily on federal research grants. With billions of dollars in play and political agendas now influencing financial support, students and faculty alike are facing an uncertain future. The Federal Clampdown On Higher Education (RUT MIIT/Unsplash) The Trump administration’s approach to federal funding has caused ripples across nearly every sector of higher education . Historically,...
Growth Warrior Capital has raised new funding to support enterprise companies being fueled by artificial intelligence (AI). The operator-led venture firm, which invests in early-stage Enterprise AI companies, was created by Promise Phelon, a former Silicon Valley tech CEO with more than 15 years of experience as an angel investor. According to a news release shared with AFROTECH™, her career trajectory has led to an expansive network , some of whom have now invested in Growth Warrior Capital’s first fund, which totals $26 million. Limited partners include Ho Nam and Han Kim (Altos VC) and well as Seth Levine and Brad Feld (Foundry). Amazon Catalytic Capital, Bank of America, Bessemer Venture Partners, Pivotal Ventures, and more are also listed as limited partners. “My goal is to be the first VC fund of significant scale run by a woman of color,” Phelon, founder and managing partner, said in a news release. “We have the backing of VC industry legends, and their support is proof of...
The Russell Innovation Center for Entrepreneurs (RICE), dedicated to expanding opportunities for Black entrepreneurs in Atlanta, GA, and beyond, has received a $2 million donation from The Arthur M. Blank Family Foundation. According to a news release, Blank’s donation will help the center move forward with RICE 2.0, a hub for innovation, collaboration, and economic empowerment that will provide essential resources for Black business founders, including small business grants, expanded programming, and mentorship opportunities. “This investment reflects our chairman’s entrepreneurial journey and his commitment to giving back to Atlanta, a city that has given him so much,” Blank Foundation President Fay Twersky said. “RICE’s extraordinary work supporting entrepreneurs creates pathways to economic mobility and opportunity. By investing in entrepreneurs at all stages, we’re fostering collective thriving where individual success strengthens entire communities.” In 1978, Arthur Blank...
Tisha Thompson is among the 2% of female founders who have successfully secured funding. Thompson launched LYS Beauty in 2021, a clean color cosmetics brand designed to serve a diverse range of skin tones and types, according to its website. Her journey in the beauty industry began during college when she worked as a makeup artist to support her education while studying accounting, Fortune reports. After earning her degree, she secured an accounting role at PÜR Cosmetics, where she quickly advanced through the ranks, eventually becoming VP of Marketing and Innovation. “During my tenure there, I wore a lot of hats, similar to what I do now as a startup founder. I helped to innovate clean beauty product development, supported brand management and marketing, and also oversaw finance and operations,” she told the outlet. Now, Thompson is successfully leading her own business and has stacked on wins since. This includes making history as the first Black-owned clean makeup brand to launch...
Black Economic Alliance Entrepreneurs Fund has reached the halfway point of its funding goal. The fund was launched by the Black Economic Alliance Foundation, which is led by Executive Vice President Alaina Beverly, to create generational wealth for the Black community, working alongside public, private, and social sectors to accomplish this goal, its website notes. Samantha Tweedy is CEO of the coalition behind this effort, Black Economic Alliance, which is made up of “business leaders and aligned advocates.” In 2021, the Washington, DC-based foundation established the Black Economic Alliance Entrepreneurs Fund LP to further its mission and has since onboarded venture capitalist Melissa Bradley, to lead its investment strategy, according to The Business Journals. Bradley was previously recognized as a AFROTECH™ Future 50 Dynamic Investor and founded 1863 Ventures, which provided business development programs, coaching, mentorship, and access to capital primarily for new...