Forbes: 51 Supports New Fund for Underrepresented Investors
June 15, 2021
- Author
- Jay Pfeifer
Learn more about a public-private partnership to help underrepresented would-be venture capitalists raise funds.
A recent Forbes article profiled a new $50M venture capital fund-of-funds designed to support underrepresented investors who might otherwise face difficulties raising capital. 51 joined a handful of universities, foundations and other investors to establish the new fund, called Screendoor.
According to Forbes, Screendoor will back up to 15 underrepresented investors raising their first institutional fund, all while providing formal and informal training and support.
“What we heard over the last few years as we got approached by new managers hoping to raise funds was that there were plenty of opportunities for them to get counsel or mentorship, but what they really needed was capital,” says Satya Patel of Homebrew Partners, one of the founding investors.
