USA – Amazon (NASDAQ: AMZN) launched Amazon Catalytic Capital, a new initiative to invest $150m in venture capital (VC) funds, accelerators, incubators, and venture studios that provide funding to entrepreneurs from underrepresented backgrounds, primarily at the pre-seed/seed stage of venture capital funding.
The company will invest in funds that focus on Black, Latino, Indigenous, women, and LGBTQIA+ founders. Amazon expects to support more than 10 funds and over 200 companies through the next year.In addition to capital, the companies in the funds’ portfolios will receive mentorship from Amazon executives and gain access to resources to support their business and technical strategy. Amazon teams will also work with the startups to identify partnership and product collaboration opportunities that could accelerate their growth.Through this initiative, Amazon has invested in the following funds:Investors from the VC funds supported by Amazon have supported hundreds of underrepresented startup founders. With Amazon’s investments, these VC funds expect to back hundreds more companies and, in turn, help create more jobs and unlock economic growth in historically underserved communities.05/10/2022
