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"The future of capital looks different than it did yesterday," Caroline von Hirschberg, co-founder and co-CEO of Spring, says in a press release announcing the company's acquisition of Future Capital.
That's because, as Quartz reports, investment dollars to black startup founders dropped more than 50% last year, and woman-founded startups raised just 1.9% of all venture capital funds.
"Far too many industries are dominated by competitive and insular mindsets," von Hirschberg says.
"We know we can move faster together to transform ways the whole ecosystem thinks about investing, starting companies, and innovation as a whole."
Spring, based in Vancouver, BC, will continue to operate independently.
Future Capital, based in San Francisco, is "a leader in Canada's early stage impact investing ecosystem," per the press release.
It offers "high-impact investor training" and "learning and investing platform built for underrepresented early-stage investors," per the release.
It's "an incredible step forward for bringing wealth creation opportunities to underrepresented communities," Keith Ippel, Spring's co-founder and co-CEO, says in the press release.
Quartz notes that while more women and people of color are starting startups, "it's hard to
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
The McGregor Lakes Area Foundation (MLAF) continues to make a meaningful impact by investing in the people and programs that strengthen the region.MLAF is a non-profit 501(c)3 organization based in...more
Leuven's Pilot City Activity aims to decarbonise heating in the city.The new heating systems will rely on green heating technologies that minimise environmental impact by reducing fossil fuel...more
National Planning Secretary Koney Samuel says the government must focus on high impact investments to transform the economy in the next five to 10 years.Mr Samuel said the country cannot afford to...more
ABC Impact, the Asia-focused impact investment firm, has successfully completed the final closing of its second fund at over USD 600 million.ADB's investment in ABC Impact Fund II reflects our...more
Game-changing heart health innovations pitched live at inaugural Catalyst Partnership Grants Showcase.The two-day event, held at the Grand Hyatt on 25 26 March, brought together more than 300 people...more
'Crucial for climate impact': Ag startups from APAC sought for new accelerator programme.Ten founders will be selected, with the programme culminating in a demo day on Thursday, November 6 in...more
ABC Impact's 2024 Impact Review highlights the firm's continued growth and strategic focus across sectors vital to Asia's sustainable development.The firm remains committed to deploying capital into...more
Impact in listed equities can deliver competitive returns, report says.Report by Schroders and the Said Business School.Findings challenge the assumption that purpose-driven investing requires...more
Grant awards promote Hernando smartphone app, Dickens of a Christmas.grant award of $5,000 will help continue the cultural part of the Dickens Of a Christmas event each November.This brings the total...more
ASIC received 60 submissions from a variety of stakeholders.It added sections on climate scenario analysis and disclosing Scope 3 emissions.The regulator also provided more information around how it...more
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Social Enterprise: Reaching Out to the Private Sector for Help
John Converse Townsend, a Forbes contributor, shares what can the private sector do for a social enterprise. He encourages social enterprises to reach out to corporations for help to scale up their businesses.
