Angeles Ventures, a Chicago, IL-based Latino and woman-led early-stage VC fund, received an equity investment from Bank of America.
The deal will accelerate the firm’s goal to find, fund, and grow Hispanic and Latino ventures in the U.S.
To date, Angeles Ventures Fund I has made four investments (Storybook, Linker Finance, Certiverse, and Sigo Seguros), joining investors such as Goodwater, Chingona, Launch (Jason Calacanis), Hyde Park Ventures, Listen Ventures, and many others.
Bank of America invests equity in women- and minority-led funds which, in turn, invest in entrepreneurs from diverse backgrounds to grow their businesses and drive economic opportunity in their communities. As of December 2023, Bank of America has committed more than $550m in equity investments to women- and minority-led funds, more than doubling its initial $200m commitment.
Angeles Ventures is led by two Latino General Partners, Adela Cepeda, and David Olivencia. Together, they built the angel investing group Angeles Investors, which has 260+ members and has made over 23 investments.