Showing 272 results for:
investing
Popular topics
All results
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...
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...
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...
Venture firm Ulu Ventures has raised $208 million to support diverse founders. WSJ Pro reports that the VC firm founded by Miriam Rivera and her husband, Clint Korver, has invested in companies where 80% have a white co-founder. However, an equal 80% share also has at least one founder who is an immigrant, a woman, or from a minority group. Since its inception in 2008, this initiative has supported 250 startups , leveraging a data-driven approach to minimize cognitive bias and foster inclusive investment across all demographics. “Venture capital has so many decision-making problems when it comes to bias, diversity, disdain for data and analytics, hubris, misapplication of pattern-matching, and so on, that we feel like the one-eyed VCs in the land of the blind,” Korver told the outlet. The couple acknowledges a shift due to the changing diversity, equity, and inclusion (DEI) landscape. Major companies are throwing in the towel and dismantling DEI commitments, with some erasing...
Issa Rae proudly represents her home state as a powerhouse actress, producer, and entrepreneur. The Los Angeles, CA, native, well known for her rise from “ Awkward Black Girl” to “Insecure” continues to stretch herself in new ways. “ One of Them Days,” featuring SZA and Keke Palme r, made its way to the big screen in 2025, marking Rae’s first feature film released under her production company, Hoorae. According to Variety and Collider, the film made $22.2 million after its first two weekends, including the extended Martin Luther King Jr. holiday. View this post on Instagram A post shared by Issa Rae (@issarae) Just a few months earlier, Rae made a new dent in the hospitality space, opening Somerville in South Los Angeles, a restaurant offering a “progressive American dining experience.” This marked her second food and drinks venture, as she had expanded Hilltop Coffee + Kitchen to the city in 2023, per Forbes. View this post on Instagram A post shared by Issa Rae (@issarae) Rae has...
Giannis Antetokounmpo is expanding his portfolio with a new investment tied to sports. Sportico reports the Milwaukee Bucks superstar is an investor in ScorePlay, an artificial intelligence -powered sports media management platform launched by Victorien Tixier (CEO) and Xavier Green (CTO) in 2021. Its solutions streamline sports organizations’ essential digital workflows by automating the management of photos and short video clips, its website mentions. Features among all its tiers include: Automated ingestion of photos and short videos Unlimitied AI tagging Usage analytics “The idea is to maximize the distribution, both on your own social channel, but also distributing the content to your athletes, who are your best storytellers,” Tixier told CNBC. ScorePlay had already attracted the attention of Kevin Durant and Rich Kleiman’s 35V family office, as well as Eli Manning, notes the outlet. Most recently, it has closed a $13 million Series A round led by Harry Stebbings’ 20VC, which...
Saquon Barkley has expanded his portfolio ahead of Super Bowl LIX, set for Feb. 9, 2025. The running back, wearing a No. 26 Philadelphia Eagles jersey, is heading to New Orleans, LA, to face the Kansas City Chiefs — a rematch of the 2022 Super Bowl matchup, ESNP reports. Barkley has combined his passion for sports and business and will be featured in a Super Bowl ad for Ramp, a financial operations platform that provides exclusive perks to over 30,000 customers. These perks include smart accounts payable, which processes bills in seconds, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping. Customers have saved upwards of $2 billion through Ramp, CEO and Co-Founder Eric Glyman mentioned in a press release. For these reasons, Barkley is not only endorsing the company through the commercial but is now an investor in the platform, the press release reported. “I’ve always believed a winning mindset applies to every part of life. If you want to...
Daniel Penny has joined the venture capital firm Andreessen Horowitz (a16z) in a move some critics view as a diversity, equity, and inclusion (DEI) hire. David Ulevitch, a general partner at the top Silicon Valley investment firm, confirmed Penny’s hiring in an internal statement to The Free Press. He stated that Penny will “learn the business of investing and he will work to support our portfolio companies.” “We believe in Daniel and are excited to have him as part of our team,” Ulevitch said, per The Free Press. There has been criticism regarding Penny’s qualifications, with some perceiving his appointment as a political move after he avoided a 20-year prison sentence for the death of a homeless man. Following his acquittal last year, he was seen attending the Army vs. Navy football game as a guest of then-President-Elect Donald Trump. For this reason, the new hire may be painted as a public relations tactic for a16z rather than a hire based on merit, since Penny has no investing...
Rick Ross was inspired to pursue business, following his mother’s entrepreneurial footsteps. The Mississippi-born rapper shot to fame with his 2006 breakout hit “Hustlin,” which led to him signing his first major record deal with JAY-Z at Def Jam, notes HipHopDX. “JAY-Z, I remember we went to eat after a game, and he was playing Rick Ross…‘Everyday I’m Hustlin,’” Former NBA player Jamal Crawford told Ross while they appeared on the “All The Smoke” podcast. “And Jay was mesmerized by the song. He was like, ‘Whip it, whip it real hard!’ He kept saying that part, he loved it.” Rick Ross became an overnight success and began prioritizing real estate as he accumulated his fortune, which is reportedly an estimated $150 million net worth today. According to Celebrity Net Worth, this encompasses $90 million earned from albums and singles, revenue from his record label Maybach Music Group (established in 2009), and other ventures. His decision to enter real estate dates back to his...
Gmail users may have been confused when they opened their email accounts and saw pop-ups about Gemini . Instead of Google sending out big “coming soon” announcements about their next-gen flagship artificial intelligence (AI) model, Gmail users just saw a subtle star in the right-hand corner of their screens. With Gemini, ChatGPT and China’s DeepSeek, along with plenty of other programs, it’s clear that AI is sticking around for the long haul. So is it worth newbie investors investing in AI, and how is this possible to do anyway? African-American Investors Are Getting Younger A new report from Financial Industry Regulatory Authority’s (FINRA) confirmed that African-Americans tend to be much younger than white investors, with 49% of African-American investors between the ages of 18-34 while 51% of white investors were ages 55 and older. Growing up in a tech-dominant age, African-American investors are using social media to get their investment education and to learn about trading...
Former NBA players Grant Hill and Chris Webber are looking to bring a WNBA team back to the city where they once played. According to a press release, an ownership group led by Pistons owner Tom Gores has formed and placed a bid to bring the league to Detroit, MI. The state previously had a team between 1998 to 2009, named The Detroit Shock, which had been quite successful, CNBC reports. In fact, the team won three WNBA Championships. However, the franchise no longer represents the city after first moving to Tulsa, OK, and then to Arlington, TX, where it has played as the Dallas Wings since 2015. Now, a group that includes Hill and Webber is hoping to reignite momentum for the city to regain a WNBA team. This marks a full-circle moment for both Hill and Webber as they both played for the Detroit Pistons at different times during their professional careers. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into...
Black residents in Chicago, IL, will be able to invest their dollars in its first casino. The TRiiBE reports locals gathered for an information session hosted by City Treasurer Melissa Conyears-Ervin and members of the Chicago Aldermanic Black Caucus to buy shares in Bally’s Casino, a $1.6 billion project in the 21st Ward that will also feature a hotel, a 3,000-seat theater, and a Riverwalk extension to Chicago Ave. A requirement for the casino is that at least 25% of the investment must come from minorities and women. “Tonight is about a new opportunity on how to participate, about not just being a consumer but to be an owner,” Ald. Ronnie Mosley (21st Ward) said at the pulpit of Third Baptist Church, according to the outlet. Conyears-Ervin added: “Remember when they legalized marijuana a few years ago? We knew that we were the community that was affected the most by it, but we felt that we did not have access to being owners. Well, this, ladies and gentlemen, is quite different.”...
WNBA legend Candace Parker wants to invest in the league. The Tennessean reports the WNBA intends to add a 16th team in 2028. A group of investors, including Former Governor Bill Haslam, Crissy Haslam, Pro Football Hall of Fame quarterback Peyton Manning, and entertainers Tim McGraw, Faith Hill, and Parker, have bid for a WNBA team in Nashville, TN, per AP News. The team, named the Tennessee Summitt, would launch by the 2028 timeline and play at Bridgestone Arena. “We believe a WNBA team, based in Nashville, could serve as a beacon for girls and women, young and old, across Tennessee, while also creating more opportunities for sports fans as our community continues to grow,” Haslam explained, according to AP News. As for Parker’s interest in bidding for WNBA ownership, it comes full circle. Her earlier career days include her time as an athlete representing the University of Tennessee women’s basketball team Lady Vols. She attended the school between 2004 and 2008 under the guidance...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. President Donald Trum p, who was once a cryptocurrency skeptic, has now yielded to many of the industry’s demands, such as easing federal regulations and oversight. From appointing cryptocurrency advocate and former Securities and Exchange Commissioner Paul Atkins to reprise his old role, to launching his own meme coin, Trump has chosen to embrace cryptocurrency . A few years ago, cryptocurrency was touted as the new form of currency. We wouldn’t be using archaic financial currency and stick to this revolutionized way of transactions. Although some people have made a lot of money off of crypto, its intended use as a decentralized banking system hasn’t been realized. Cryptocurrency is still very new, so new that engaging in it feels comparable to gambling. Trump lifting regulations to give cryptocurrency his blessing bodes well for the industry. A day after announcing Paul Atkins as his pick, the...
LeBron James’ portfolio now includes a new sports team. Forbes notes the Los Angeles Lakers star is taking his dollars to the seas as an investor in the UIM E1 Series, an all-electric and sustainable raceboat competition that kicked off in 2024. Its launch is supported through Motorsports E360, a partnership between the Public Investment Fund (PIF) and Formula E, Extreme E, and E1. James is now the owner of the platform’s latest arrival, Team AlUla Championed by LeBron James, with Rusty Wyatt and Catie Munnings signing on to pilot the powerboat. What’s more, James joins other E1 Series team owners such as Will Smith (Westbrook Racing) and Tom Brady (Team Brady), which was victorious in the 2024 E1 Series championship. “For me, I’m a huge fan of sports and I’ve always loved competing,” James told Forbes. “There’s nothing like seeing athletes compete at the highest level of their sport. Now with E1, we’re seeing a whole new type of competition on the water where everything is...