Amazon Web Services (AWS) has launched Amazon Catalytic Capital to invest in venture capital funds (VCs), accelerators, incubators, and venture studios that support companies led by Black, Latino, Indigenous, women, and LGBTQIA+ founders. According to Amazon, funding will be targeted to entrepreneurs from underrepresented backgrounds, primarily at the pre-seed/seed stage.
“We’ve seen incredibly innovative ideas from underrepresented entrepreneurs—from companies offering inclusive health services for women to startups helping companies mitigate climate impact for underserved communities—and we’re convinced that an inclusive investment strategy leads to better returns and innovation. We want to ensure that these companies and their founders have the same access to capital as anyone else.” Peter KrawiecSVP Worldwide Corporate Development, Amazon
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:
Collide Capital is a Black-owned seed and pre-seed venture capital fund led by two founders: Aaron Samuels, who co-founded AfroTech, and Brian Hollins, who is a founding board member of BLCK VC. To date, Collide Capital has backed over 40 companies, of which over 80% are led by Black, Latino, and/or female founders.
Elevate Future Fund, which is overseen by Energy Impact Partners, focuses on increasing funding to underrepresented founders working on solutions to accelerate the transition to a more sustainable and clean energy future. It will also make investments in companies that are led by underrepresented entrepreneurs, are empowering diverse talent, and/or are creating economic opportunity for distressed or disadvantaged communities. Elevate will also collaborate closely with Amazon’s Climate Pledge Fund which invests in emerging climate technology companies.
Share Ventures is a Los Angeles-based venture fund and venture foundry focused on human performance. Share focuses on solving problems by creating and investing in innovative companies that unlock human potential in categories including health tech, future of work, people tech, fintech, transportation, and purpose tech (companies facilitating impact and change).
Techstars Rising Stars Fund is a pre-seed venture capital fund investing in underrepresented founders of color in the U.S. The fund is part of the Techstars investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs.
