Aperture Venture Capital Closes First Round of $75M Corporate Diversity Fund
Led by FIS, Truist and PayPal, the fund features a groundbreaking platform to power corporate diversity investing and a more inclusive economy.
NEWS PROVIDED BYAperture Venture Capital
Jul 20, 2021, 09:00 ET
NEW YORK, July 20, 2021 /PRNewswire/ — Aperture Venture Capital, a seed-stage venture firm that invests in Black, Latin and female founders building the future of fintech and enterprise software announced the first close of its $75 million fund. Anchored by financial industry powerhouses, FIS and Truist Financial Corporation, and joined by PayPal, the fund offers corporations, endowments and other institutions a scalable solution to the problem of systemic biases in venture capital. The core of the Aperture VC model is its engagement platform – known as the Diversity Investing API℠ – which unlocks critical operating resources for its portfolio companies while helping its corporate partners access a pipeline of diverse talent and market innovations.
“Ever since launching the nation’s first corporate diversity fund in 2012, I have envisioned a more effective investment model that would address the biases plaguing the venture capital industry: lack of capital, relationships, and successful exits by diverse and female founders,” said Aperture VC Founding Partner, William Crowder. Aperture VC is engineered to provide portfolio companies a winning edge in today’s competitive landscape by partnering with industry-leading corporations. “The commitment of our corporate LPs and the experience of our investment team differentiate us in the market. Aperture VC and its LPs are writing a whole new playbook for diversity investing,” said Founding Partner Garnet Heraman.
With the support of our LP’s, Aperture VC is rewriting the the corporate playbook for diversity investing.Tweet this
Joon Cho, Head of Venture Investing at FIS, commented, “We are excited to serve as a lead investor in Aperture’s inaugural fund. This investment is an integral part of our commitment to provide innovative technologies that bring more people into the digital economy. With strategic investment partners like Aperture, we will access the broader talent pool and diverse perspectives of underrepresented groups. FIS is proud to play a leading role in this important endeavor.”
“At Truist Ventures, our goal is to support diverse founders while delivering innovative solutions for our clients,” said Vanessa Vreeland, head of Truist Ventures. “Aperture’s engagement model solves a critical pain point for advancing diversity in the tech sector and economic empowerment. As an anchor investor, our partnership with Aperture helps build better lives and communities by supporting underserved founders at scale.”
“William and Garnet’s extensive experience investing in and supporting diverse founders at the early stage drew us to Aperture,” said Peter Sanborn, managing partner of PayPal Ventures. “With this investment, PayPal has the opportunity to expand venture capital funding and wealth creation opportunities for diverse founders. We’re honored to join the fund as part of our commitment to racial equity.”
About Aperture Venture Capital
Aperture Venture Capital is VC for the Multicultural Mainstream™. We have created a new investing paradigm purpose-built to back diverse founders across the US who are building the next generation of game-changing tech companies. Aperture VC’s investors are leading corporations, endowments and other institutions committed to building an inclusive economy through partnership and collaboration. Known for the innovative Diversity Investing API℠ platform, we work closely with treasury and corporate ventures units to expand their diversity investing toolbox. Led by seasoned technology investors William Crowder and Garnet Heraman, Aperture VC helps Fortune 500 companies, endowments and institutions rapidly transform DEI strategy into measurable impact that amplifies their bottom line over time.
SOURCE Aperture Venture Capital