HMTA is thrilled to announce a four year commitment to invest in Elevate Capital’s second venture fund. Elevate, led by Nitin Rai, is uniquely committed to working with female and minority founders. Today, they have announced the first $26 million close of their $40 million fund.
Elevate’s first $10 million fund has earned a return (TVPI) of 66% through March of 2020 with more exits to come.
Five of Elevate’s first six investments are led by black women. But, to be clear, this is an investment not a charity. Elevate will work with these founders to build successful and valuable businesses and we will support them in their work. We believe that helping minority founders succeed is the surest way to ensure that they will have a permanent place at the table.
Here is a link to the Elevate Capital news release on the first close.