Washington DC has announced the launch of a $26 million venture capital fund to stimulate local economic growth amid increasing challenges in securing venture capital. Named the DC Venture Capital Fund, it will be managed by K Street Capital and aims to create a self-sustaining investment ecosystem by requiring private investors to match DC’s contributions, potentially doubling the fund to $52 million. The fund will focus on pre-seed and seed-stage companies, prioritizing those with underrepresented founders. The initiative seeks to enhance DC’s reputation as a hub for diverse entrepreneurship and foster financial stability in local startups.