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Venture Capital

Andreessen Horowitz Launches New VC Fund for Black Investors

Venture capital firm Andreessen Horowitz is launching a new fund backed by black celebrities and athletes including Kevin Durant and Will Smith, the Wall Street Journal reported. The small $15 million fund appears to be part of an effort to increase diversity among tech investors. The firm has been looking at ways to reach out to the tech industry’s black community for years, we previously reported. The number of black venture capitalists at elite firms has been slow to rise. Only 1.6% of decision-makers at top VC firms are black, up slightly from 1.2% last year, according to The Information’s VC Diversity Index.

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