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VC Firm Will Donate Fund Profits to HBCU Endowments

By Kate Clark
· · Source: The Information

Base10 Partners plans to invest 50% of a new $250 million fund’s carried interest, or the share of the profits general partners receive as compensation, to Historically Black Colleges & Universities (HBCUs). The new fund, called the Advancement Initiative , arrives roughly one year after Base10 co-founder Adeyemi Ajao helped lead an effort to push top VC firms to invite HBCUs to become...

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