New venture capital firm will invest in underrepresented entrepreneurs
VC 414, a new venture capital firm established in January, is looking to invest in women and other underrepresented entrepreneurs, according to WisBusiness.
Co-founders Jennifer Abele and Raquel Filmanowicz said at a Wisconsin Technology Council event yesterday that the firm plans to invest with Black, Latino, and Indigenous founders, as well as veterans, people with disabilities, members of the LGBTQ community, and other women.
The firm will focus on financial technologies as well as companies working with “tech-enabled” fashion, wellness, and beauty ideas, among others.
Abele and Filmanowicz have made some initial investments with their own capital commitments while they continue to raise money to open the fund later this year. VC 414’s first four investments were all for $250,000, and its minimum check size is $200,000.
The firm’s maximum investment is projected to be $1 million but is dependent on the overall fund size. VC 414 is open to co-investing with other firms but will avoid capital-intensive sectors such as real estate.