Amazon Invests $150M In Venture Funds To Boost Entrepreneurs From Minority Backgrounds

  • Inc AMZN has formed Amazon Catalytic Capital, a new initiative to invest $150 million in venture capital (VC) funds.
  • The initiative will fund entrepreneurs from underrepresented backgrounds, primarily at the pre-seed/seed stage of venture capital funding.
  • The company will invest in funds focusing on Black, Latino, Indigenous, women, and LGBTQIA+ founders.
  • Amazon expects to support more than 10 funds and over 200 companies through 2023.
  • In addition to capital, the entrepreneurs will also receive mentorship from Amazon executives and gain access to resources to support their business and technical strategy. 
  • Also ReadAmazon Freezes Hiring, Discontinues Amazon Glow: Report
  • The funds in which Amazon has invested include, Collide Capital, Elevate Future Fund, Share Ventures and Techstars Rising Stars Fund.
  • Price Action: AMZN shares are trading lower by 1.77% at $118.95 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!