FabricVC will invest millions in underrepresented founders at the earliest stages of development
Online PR News – 28-March-2022 – Los Angeles, CA – Laurel Mintz, founder of Elevate My Brand, an award winning entrepreneur, business owner, and a trailblazer in the field of equity, is proud to announce the launch of FabricVC, an early stage seed and pre-seed venture capital fund. The fund which is currently raising $10-$40M, was inspired to elevate and support diverse entrepreneurs and to change the face of Venture, creating more parody in a world desperately in need of diversity, equity and inclusivity.
By 2040 today’s minorities will become the primary demographic engine for continued economic growth. Black and LatinX buying power alone represents over $3T in the US. Yet, Black and Latino founders remain underrepresented, receiving ONLY 2.3% of all venture capital dollars raised in the U.S. in 2019. Through it’s investment, FabricVC will shift this paradigm. Similarly, only 2% of venture funding in 2021 went to female-founded companies despite them statistically performing better.
FabricVC is intended to provide start-up funding for game changing ideas by diverse founders working on big outcomes in four key areas: 1) Gen Z and Gen Alpha-focused fintech, 2) Consumerized healthcare and digital health tools, 3) Platforms for the future of work and; 4) Web 3.0 - a return to open protocols and emerging ownership models and microbehaviors.
FabricVC fund manager Laurel Mintz shares her perspective, “After having walked in CEO shoes, I know what a larger impact a fund like this can have for underrepresented founders.”
Mintz’s experience matched with an inspiring diverse-run portfolio of companies will serve to elevate and support diversity, equity and inclusion throughout venture capital funding. With million dollar funding contributions during the initial phases of ideation, FabricVC is positioned to stitch together a future that is every bit as strong, vibrant, and diverse as the fabric of our country.
About Fabric VC: Our mission is to weave together diverse founders with the funding they need and deserve. Our experience matched with our inspiring diverse-run portfolio companies will elevate and support the need for diversity, equity and inclusion in fundraising. Doing great things together by investing in companies doing great things in the world. The time is now!