“Our North Star is helping more Black founders access the capital and resources they need to make it to the next stage and start and build and scale successful businesses. When thinking about where is the biggest gap for folks who are trying to build businesses, and particularly Black founders, we felt that it was at that earlier stage, what is traditionally known as the ‘friends and family round’ where people may not even have a product or have generated revenue. It’s those people in their networks that believe in them, that give them the capital and the ability to go and chase after that dream.”
Stella Ashaolu | Co-founder, Fifth Star Funds
White-led businesses have access to 37 times more startup financing than Black founders, according to a Stanford report. To help fuel investment in the Black business community, Fifth Star Funds, a group of Chicago entrepreneurs and industry leaders, is providing access to funding and support services to Black founders. In an audio interview with Tides, Stella Ashaolu, co-founder of Tides partner Fifth Star Funds, talks about why she helped
launch a venture capital firm specifically for Black-owned tech companies, and why it’s focused on critical early stage funding that can help establish generations of Black wealth. And we hear from Dameon Mason, founder of Crtside and an investee of Fifth Star Funds, about how he's been able to benefit from both the financial investment as well as the ecosystem of entrepreneurial support.
