Platform Capital, an early investor in the fund, hosted an exclusive celebratory dinner On Sunday, April 4th, 2021 in Los Angeles, in honor of MaC Venture’s $110 million fund close.
This is the most funds ever earned by a team of a majority of Black team
MaC Venture Capital is a venture capital company based in Los Angeles and San Francisco that invests internationally in technology companies that benefit from shifts in pop culture, cultural patterns, and lifestyles.
MaC Venture Capital brings considerable value to its portfolio companies by helping them with market access, policy, government relations, marketing & branding, and a broad influencer network.
The current fund has supported several influential early-stage companies in Artificial Intelligence, payments, and media, such as EdgeDelta, Goodfair, Gridraster, Pipe, Ryff, StoreCash, and others.
“The MaC Venture Capital team is headed by Marlon Nichols, Adrian Fenty, Michael Palank, and Charles King, who have a track record of over 100 investments in a variety of sectors, including Airspace, Blavity, Caffeine, Citizen, Fair, Faze Clan, Flexport, Gimlet, PlayVS, Ready Responders, Truebill, AI Foundation, and many others.
“We would like to express our gratitude to Platform Capital for their faith in us; without it, we would not have been able to allocate capital early to invest in some of the companies in our portfolio today. Without Platform Capital, we would not have made it this far.” Marlon Nichols, MaC Ventures’ Founding Managing General Partner, said as much.
The business plans to make at least 40 investments a year with this new fund, and has already closed 27 transactions.
At a celebratory dinner held at the Avra Madison Estiatorio restaurant in Beverly Hills, Dr. Akindele Akintoye, Chairman Platform Capital, commented on the success of Mac Venture’s fund close.
“Our collaboration with MaC Venture Capital exemplifies our mutual commitment to global business development. We are ecstatic about MaC Venture’s success as early investors in the fund. “We are also especially excited for their visit to the African continent with other investors to explore more opportunities, understand the macro and regulatory environment, and eventually create relationships between current portfolio companies and African potentials,” Akintoye stated.
Eric Taylor, CFA – Founder/CEO, Trident, Rodney Williams, Co-Founder, SoLo Funds, Dr. Muri Raifu, Founder, Talamus Health Inc, and others were among those who attended this exclusive dinner.
A. Anyibama, Chairman, Oak Africa Holdings, Ajani Windsor Areago, Managing Partner, Seneca Village Holding LLC, Feven Yohannes Raifu, Founder, 2.4.1 Cosmetics, Tomiwa Oshinkalu, Enare Agbor, Olakunle Soriyan, Forbes Business Council Member, and Adesola Adesugba, Head, Brand Capital & Communications, Platform Capital, were also in attendance.
Video Source: CNBC Youtube
Read More on Tech Gist Africa:
Algebra Ventures, an Egyptian venture capital company, has launched a $90 million second fund
Enygma Ventures has announced a funding call for female entrepreneurs for the month of April 2021
