Black Ops Ventures will invest in Black-led technology ventures across the U.S. and Canada after closing a $13 million seed fund led by Bank of America (NYSE: BAC) and Milwaukee-based Northwestern Mutual.
The Miami-based venture capital firm will address the funding disparities that exist among Black-led startups moving from seed funding to series A capital rounds, managing partner Heather Hiles said.
According to Northwestern Mutual, its investment in Black Ops Ventures came from the Milwaukee company’s Impact Investing Fund, a $100 million commitment to invest in Black communities on both a national and local level, with the goal of addressing inequality and the racial wealth gap.
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