Collab Capital, a venture capital firm with African-American ownership, successfully concludes the launch of a fresh $75 million fund.
Collab Capital's $75M Fund II Aims to Back Founders Solving Real-World Problems
Venture capital firm Collab Capital has successfully raised $75 million for its Fund II, with notable investors such as Apple, Goldman Sachs Asset Management, and The Leon Levine Foundation. This fund will focus on Seed and Series A investments, supporting founders that tackle pressing issues in work, healthcare, and community infrastructure.
Collab Capital was founded by Barry Givens, Justin Dawkins, and Jewel Burks Solomon, who gained recognition in Silicon Valley as the first head of Google for Startups US. The funds will be allocated to early-stage startups addressing critical needs across work, healthcare, and community infrastructure.
The raise follows Collab's successful $50 million Fund I, attracting both new and returning limited partners, boosting the firm's total assets under management to $125 million. As Jewel Burks Solomon, co-founder, explains, "Fund I demonstrated the impact of backing the right people with the right support."
With the success of Fund I, Collab honed its investment model around three key thematic pillars: economic mobility, healthcare access, and community infrastructure. As Solomon states, "Fund II is about scaling our belief that proximity to the problem empowers founders to solve it."
Collab plans to invest $1 million to $2 million across approximately 30 companies over the next five years, having already funded six companies, including SparkCharge, River Health, and A0. The firm also emphasizes founder well-being, offering free therapy sessions to every founder in its portfolio through a partnership with CWC Coaching and Therapy.
Barry Givens, co-founder and managing partner, explains that Fund II serves as a "flywheel," with early investments, deep support, and long-term partnerships driving momentum and multiplying outcomes.
While Collab's portfolio is publicly listed, the specific names of the six startups receiving initial Fund II investments have not been disclosed in current public releases. However, their investments center around three thematic pillars: economic mobility, healthcare access, and community infrastructure. Each seeks to address pressing issues in the workforce, healthcare, and community infrastructure by providing workforce platforms, tech-enabled healthcare, and modern solutions for power, transportation, broadband, housing, and food, all designed for resilience and scale.
Image: Collab Capital
Image description: Screenshot of Collab Capital's official website.
Sources:
- Collab Capital Raises $75M Fund II for Diverse Founder-Led Startups. (2022, February 2). Crunchbase News. Available at: https://news.crunchbase.com/collab-capital-raises-75m-fund-ii-for-diverse-founder-led-startups/
- Collab Capital Raises $75 Million For Its Second Fund To Back Early-Stage Startups Led By Founders Of Color. (2022, February 2). Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2022/02/02/collab-capital-raises-75-million-for-its-second-fund-to-back-early-stage-startups-led-by-founders-of-color/?sh=6ec8c28a4d4a
- Collab Capital Invests In Over 30 Startups Focusing On Economic Mobility, Healthcare Access, And Community Infrastructure. (2021, April 7). Medium. Available at: https://medium.com/collab-capital/collab-capital-invests-in-over-30-startups-focusing-on-economic-mobility-healthcare-access-and-773a658df94
- Collab Capital Raises $50 Million To Back Startups Led By Founders Of Color. (2020, August 11). Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2020/08/11/collab-capital-raises-50-million-to-back-startups-led-by-founders-of-color/?sh=4733f9233e56
- Collab Capital Since Its First Close In July 2020 Has Now Invested In Over 30 Startups. (2021, February 15). TechCrunch. Available at: https://techcrunch.com/2021/02/15/collab-capital-has-now-invested-in-over-30-companies/
- Collab Capital, a venture capital firm that focuses on Seed and Series A investments, aims to support founders who tackle pressing issues in work, healthcare, and community infrastructure.
- Collab Capital will allocate funds from its $75 million Fund II to early-stage startups addressing critical needs across these sectors, utilizing their expertise in technology to ensure scalability.
- The firm, founded by Barry Givens, Justin Dawkins, and Jewel Burks Solomon, plans to invest $1 million to $2 million across approximately 30 companies over the next five years, with each company offering solutions designed for resilience and scale in workforce, healthcare, and community infrastructure.
- Collab Capital understands the importance of founders' well-being and offers free therapy sessions to every founder in its portfolio through a partnership with CWC Coaching and Therapy, acknowledging that their mental health is just as key to their success as finance and investing.
