![]() In 2018, minority angels accounted for 5.3% of the angel investor population. Williams, co-founder and CEO of Black Pearl Global Investments, is focused on getting more “check-writers of color” at various investment levels. With her corporate background in learning and development, Washington had organized Black Gems’ predecessor, a six-week virtual meetup called All Things Money, where they were introduced to Charlotte-based angel investor Shante Williams. Last summer, the nine women loosely knew each other but connected virtually around their interest in angel investing.Īngel investors are high net-worth individuals who invest their own money into startups in exchange for equity or convertible debt - not to be confused with venture capitalists, who invest other people’s money typically pooled from investment companies, large corporations and other funds. “Seeing the numbers about how Black businesses don’t get the money, or that we’re not in front of the opportunities or have the business knowledge to set ourselves up to be invested in or to be acquired by a bigger company was a big issue for me,” said Nakisha Washington, Black Gems’ founder. Then, there’s the fight for survival - eight out of 10 Black-owned businesses fail within the first 18 months, and that was before the Covid-19 pandemic exacerbated the situation.īlack Gems Investment Group, which formally launched in January, believes that therein lies an opportunity. Department of Commerce’s Minority Business Development Agency. Black-owned companies are more likely to start without capital, according to a report by the U.S. Why it matters: For Black business owners, securing funding to launch a new venture continues to be a challenge. ![]() Kristen Trulear-Jackson, co-founder of Renew Med Spa and one of the Charlotte-based Black Gems. And for most people, those limitations are finances,” said Dr. “We understand when you have something that you’re so passionate about, you do everything you can to make it work, but you still have limitations. ![]() Fueled by data showing the funding disparities faced by women founders and founders of color, the group sought out mentors who could assist them as new investors wanting to make an impact.
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