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Research Outline

Prepared for Yacob B. | Delivered October 9, 2020

Pariti

Goals

To determine the debt raise needs for U.S. and African (incorporated in the US with more than 1 location in Africa) startups markets-stage Series C funding or earlier. The data (segmented by country) must include name of companies/lenders that offer financing to minority startups, along with market share.

Early Findings

  • A compiled list of 25 Venture Capital firms in the U.S. that fund minority-owned early startups: Black Angel Tech Fund, Backstage Capital, Digitalundivided, Diversecity Ventures, EchoVC Partners, Cross Culture Venture Capital, Harlem Capital Partners, Dreamit Ventures, Gen Y Capital Partners, Humble Ventures, Founders First Capital Partners, Pipeline Angels, Presidential Innovation Fellows, Valmo Ventures, Base Ventures, Precursor Ventures, GV (Google), Connectivity Capital Partners, Capor Capital, 500 Startups, Jalia Ventures, Southbox Venture Capital, KEC Ventures, The Harriet Fund, and Reach Capital. Unshackled Ventures helps fund immigrants in the US.
  • The following is a list of Venture Debt Lenders in the U.S., including check size and contact information: Triple Point Capital, Western Tech Investment, Hercules Capital, Horizon technology Finance, Comerica Bank, Silicon Valley Bank, Bridge Bank, Pacific Western Bank, Trinity Capital, Lighter Capital, Level Equity, Vensource Capital, Data Sales Company, CSC Leasing, Signature Bank, Runway Growth Capital, Flow Capital, Avid Bank, Espresso Capital, Montage Capital, Bravo, and Top Corner Capital.
  • Crunchbase provides the top 5 U.S. lenders that invest in startup companies in Africa: 500 Startups- 6% interest rate, Kleiner Perkins- interest rate 5% , Goldman Sachs- 1% interest rate, Greylock- 2-3%, and Techstars (silicon Valley Bank)- 1% interest rate.
  •  500 Startups has raised a total of $2.2M in funding over 6 rounds. Their latest funding was raised on Apr 3, 2018 from a corporate round.
  •  Kleiner Perkins has raised 18 funds, their latest being KPCB XIX, announced on Jan 30, 2020 and raised a total of $700M.
  •  Goldman Sachs has raised 7 funds, their latest being Senior Credit Partners II, announced on May 22, 2019, and raised a total of $4.4B.
  •  Greylock has raised 7 funds, their latest being Greylock Fund XVI, announced on Sep 15, 2020 and raised a total of $1B.
  •  Techstars has raised a total of $103.8M in funding over 5 rounds. Their latest funding was raised on Jul 30, 2019 from a Series B round.