Venture firm Black Seed raises £5M inaugural fund to invest in Black founders

British early-stage venture firm Black Seed has raised £5 million ($6.2 million) as part of its inaugural fund to solely support Black founders in the country. The round was led by asset manager M&G Investments, with additional support from Atomico and Molten Ventures. The firm is hoping to raise an additional £5 million to close the round.
Black Seed was launched to address the lack of funding Black founders receive in the U.K., according to its founders: Karl Lokko, Cyril Lutterodt and founding member Yvonne Nagawa. Black founders in the country received only 0.24% of all VC funds betwee

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