Nex Cubed launched $40 million fund targeting Black colleges and universities

Venture firm Nex Cubed announced today the launch of the HBCU (historically Black college and university) Founders Fund, with a $5 million investment from Costco Wholesale, which now joins as an anchor investor. The fund, which is a $40 million accelerator, seeks to foster and invest in startups where at least one founder is an HBCU student, alumni or faculty member.
Before the fund, Nex Cubed launched a pre-accelerator program at various HBCUs to help aspiring entrepreneurs affiliated with the institutions find resources to scale their startups. After the program’s success, the firm spu

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