Illumen Capital is reinforcing its commitment to support fund managers and founders from underrepresented communities by launching a $32.75 million “Catalyst Fund.” Founded by Daryn Dodson, the firm aims to address racial bias in investing, particularly as diverse founders face declining support. Last year, Black founders received less than 1% of venture capital funding. The Catalyst Fund will prioritize first-time venture managers and early-stage founders, with at least 65% of capital allocated to them. Dodson emphasizes the fund’s goal of showcasing the value of diverse-led funds and plans to deploy it within the next year and a half.
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