This Black Woman-Led VC Firm Just Launched A $50 Million Fund Specifically For Black Businesses

Despite the tumult taking place in the VC space for Black women, one Black woman-founded financial firm is doubling down on their commitment to investing in the community. RUNWAY, a financial innovation created and led by seasoned investor Jessica Norwood, recently announced the launch of its first in-house integrated capital investment fund committed to investing $50 million into businesses, co-operatives, and grassroots organizations building wealth in Black communities in select regions* across the United States, per a news release. “For too long, the racial wealth gap has persisted, fueled by systemic injustices that trace back to our nation’s dark history of enslavement and discriminatory policies,” Norwood shared in a statement. “The RUNWAY ROOTED Fund is not just an investment opportunity; it’s a beacon of hope and a clarion call for change. This is the path forward.” RUNWAY also points out that if the racial wealth gap is not addressed, the median wealth of Black Americans is projected to fall to zero by 2053, while median white household wealth will climb to $137,000. The $50M ROOTED Fund launched this year with $6 million with investments from  BUILDERS, The No Regrets Initiative and The Kataly Foundation among others. “We are proud to...