Brown Venture Group a Minneapolis, MI-based venture capital firm formed to fund Black, Latino and Indigenous technology entrepreneurs, announced today that The Huntington National Bank made a $3m commitment to its inaugural fund.
Brown Venture Group, which is a majority Black-led organization, was founded in 2018 with the goal of raising $50m to invest in entrepreneurs of color who in the past have not had access to venture capital and have experienced economic barriers to contribution.
Led by Managing Partner Dr. Paul Campbell, Brown Venture Group has invested in 26 technology startups in various industries including clean energy, fintech, health tech and software across the country. In addition, the venture capital fund has signed important inclusive collaborations with NASA, the United States Patent and Trademark Office (a partnership driven by the Pro Bono Advisory Council) and tribal governments nationwide.
Huntington’s commitment to Brown Venture Group was led by its Corporate Ventures team, which is focused on developing and executing partnerships, investments and new ventures that accelerate the momentum of Huntington’s business segments.