|
|
MSP Equity Fund is the first known venture capital fund of funds in the country designed to invest across race, place, and gender. The fund will invest in 10 or more different venture capital fund managers -- backing local funds and attracting new funds to Minnesota. In turn, these funds will commit to investments in Minnesota startups led by Black, Brown, and Women entrepreneurs across industries. The $50 million venture capital fund of funds received support from gener8tor and GREATER MSP, and is anchored by major investments from Allianz Life Insurance Company of North America, Allina Health, and Xcel Energy. The MSP Equity Fund advances all three economic development goals set by Forge North, a regional coalition of more than 100 startups, investment firms, accelerators, corporations, and others. It advances racial equity, increases early-stage venture capital, and will generate stronger partnerships between Minnesota-based corporations and startups. MSP Equity Fund will invest in 10+ funds across accelerators, local/regional fund managers, diverse & emerging fund managers and revenue-based financing funds.
|
