Black Founders Matter Fund, a Portland, OR-based seed-stage venture fund focused on Black and innovative founders, received an investment from Bank of America.
The amount of the deal was not disclosed.
The BFM Fund will allocate Bank of America’s investment into Black founders across various verticals within the United States. Current companies within The BFM Fund’s portfolio include Saysh, Allyson Felix’s footwear and apparel brand; Hued, a healthcare startup in partnership with Serena Williams and Glow Up Games, a mobile-game companion to HBO’s hit television series, “Insecure.”
Led by Managing Director, Himalaya Rao-Potlapally, The BFM Fund functions as a seed-stage venture investment fund, routinely investing in Black and innovative founders who create startups based in the United States. The fund is returns-focused and seeks scalable ventures across multiple verticals and industries between the Series Seed and Series A life-stage.
Beyond capital, the BFM Fund partners with industry-specific lead firms in the Series Seed to Series C stage to help its portfolio companies scale efficiently.