{"id":93914,"date":"2025-03-14T20:25:45","date_gmt":"2025-03-14T20:25:45","guid":{"rendered":"https:\/\/blacktwitter.com\/impact-x-secures-significant-financial-backing-to-support-underrepresented-entrepreneurs\/"},"modified":"2025-03-14T20:25:47","modified_gmt":"2025-03-14T20:25:47","slug":"impact-x-secures-significant-financial-backing-to-support-underrepresented-entrepreneurs","status":"publish","type":"post","link":"https:\/\/blacktwitter.com\/impact-x-secures-significant-financial-backing-to-support-underrepresented-entrepreneurs\/","title":{"rendered":"Impact X Secures Significant Financial Backing To Support Underrepresented Entrepreneurs"},"content":{"rendered":"<p><\/p>\n<p>CEO and co-founder Eric Collins of <a href=\"https:\/\/www.impactxcapital.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Impact X Capital Partners <\/a>announced the final close of its latest fund. Illumen Capital, a BIPOC-led investment firm based in Oakland, California, and Basecamp Fund, a fund of funds investing in upcoming managers from London\u2019s Phoenix Court, supported the fund, <a href=\"https:\/\/www.voice-online.co.uk\/lifestyle\/2025\/03\/12\/impact-x-secures-big-financial-backing\/\" target=\"_blank\" rel=\"noreferrer noopener\">as stated by the Voice. <\/a><\/p>\n<p>This fund will help Impact X fulfill its commitment to tackling systemic barriers in venture capital by assisting underrepresented entrepreneurs in high-growth industries such as technology, healthcare, and targeted creative sectors.\u00a0<\/p>\n<p>\u201cThis fund close is about more than capital\u2014it\u2019s about building a coalition of partners who share our vision for immediately transforming venture capital allocating now and into the future,\u201d Collins told the Voice. <\/p>\n<h2>Reducing racial and gender bias in investing <\/h2>\n<p>Led by managing partner Daryn Dodson, Illuman Capital takes an uncommon approach to investing by combining diversity, equity, and inclusion into its plan. The firm works intimately with portfolio managers to actively limit racial and gender bias in investment decision-making.\u00a0<\/p>\n<p>\u201cWe are honored to partner with Impact X as a way to advance our shared mission beyond North America, bridge equity gaps, and foster innovation in the UK and Europe. We are thrilled to collaborate with a like-minded partner to deliver measurable, sustained impact on a global scale\u201d Dodson said. <\/p>\n<h2>Impact X\u2019s investment in Marshmallow <\/h2>\n<p>Marshmallow is the UK\u2019s second Black-led unicorn, transforming the insurance industry with a customer-first, tech-driven approach. It achieved a 75% turnover growth to \u00a3184M in 2023 while continuing its workforce at over-indexes for both women and people of colour.\u00a0 <\/p>\n<p>\u201cCompanies like Marshmallow are proof of how underrepresented entrepreneurs can create extraordinary value for the global economy who can\u2019t \u2013 and shouldn\u2019t \u2013 leave money on the table,\u201d Impact X Capital\u2019s Chief Investments Officer Paula Groves said.<\/p>\n<h2>Eric D Collin\u2019s impact in tech <\/h2>\n<p>As a queer man <a href=\"https:\/\/www.linkedin.com\/in\/ericdcollinsba\/\" target=\"_blank\" rel=\"noreferrer noopener\">Eric D. Collins<\/a>\u00a0has made a profound impact in the tech world. He is an investor, entrepreneur, author, and host of Channel 4\u2019s The Money Maker. He launched\u00a0<a href=\"https:\/\/www.impactxcapital.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Impact X Capital Partners LLP<\/a>\u00a0to support diverse, underrepresented, and unfamiliar entrepreneurs, specifically individuals of African-Caribbean descent. The company\u2019s mission is to produce the extraordinary and influence the world.<\/p>\n<hr class=\"wp-block-separator\"\/>\n<p>Image: Impact X<\/p>\n<p>\n<a href=\"https:\/\/peopleofcolorintech.com\/articles\/impact-x-secures-significant-financial-backing-to-support-underrepresented-entrepreneurs\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=impact-x-secures-significant-financial-backing-to-support-underrepresented-entrepreneurs\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO and co-founder Eric Collins of Impact X Capital Partners announced the final close of its latest fund. Illumen Capital, a BIPOC-led investment firm based in Oakland, California, and Basecamp Fund, a fund of funds investing in upcoming managers from London\u2019s Phoenix Court, supported the fund, as stated by the Voice. This fund will help<\/p>\n","protected":false},"author":1,"featured_media":93915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-93914","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-life-and-culture"},"acf":[],"_links":{"self":[{"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/posts\/93914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/comments?post=93914"}],"version-history":[{"count":1,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/posts\/93914\/revisions"}],"predecessor-version":[{"id":93916,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/posts\/93914\/revisions\/93916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/media\/93915"}],"wp:attachment":[{"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/media?parent=93914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/categories?post=93914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blacktwitter.com\/wp-json\/wp\/v2\/tags?post=93914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}