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§ Venture Capital · San Francisco, CA, USA
Angel fund investing in early-stage tech startups led by Black entrepreneurs to address venture capital underrepresentation.
Key people at Black Angel Tech Fund.
Black Angel Tech Fund was founded in 2015 by Obi Ugwonali (Co-Founder and Managing Partner).
Black Angel Tech Fund is an Atlanta, Georgia-based venture capital firm that invests in early-stage technology startups led by Black entrepreneurs. The boutique angel fund targets pre-seed and seed opportunities, typically deploying capital ranging from $100,000 to $5 million per company while frequently choosing to co-invest rather than lead funding rounds. The firm initially targeted a $5 million fund with plans to eventually raise $50 million, seeking to back 20 to 30 companies with valuations up to $10 million. By late 2017, the organization had deployed nearly $1 million across its first five investments. Its active portfolio includes investments in software, media, and healthcare technology companies such as Ceek VR, On Second Thought, OmniSpeech, and Bandwagon. Black Angel Tech Fund was founded in 2015 by Ron Berry, Dr. Obi Ugwonali, Kwame Anku, and Marc Mitchell.
Black Angel Tech Fund was founded in 2015 by Obi Ugwonali (Co-Founder and Managing Partner).
Black Angel Tech Fund is a boutique investment fund focused on addressing the underrepresentation of Black tech entrepreneurs by leveraging Black angel investors to support early-stage, high-growth technology startups. The fund primarily invests in pre-seed and seed rounds, aiming to nurture next-generation innovators within a unique international support network. Its mission centers on increasing Black participation in the tech startup ecosystem and providing capital and mentorship to Black founders, thereby fostering diversity and inclusion in technology entrepreneurship[1][3][4].
Founded in the United States, Black Angel Tech Fund emerged to fill a critical gap in venture capital access for Black entrepreneurs. While specific founding details and key partners are not widely publicized, the fund’s evolution reflects a commitment to both financial returns and social impact by empowering Black techpreneurs through early-stage investments and strategic support. The fund’s activity has been relatively low in recent years, with its last known investment announced in 2017, indicating a boutique and selective approach to funding[1].
Black Angel Tech Fund rides the growing trend of diversity, equity, and inclusion (DEI) initiatives within venture capital and technology sectors. The timing is crucial as the tech industry increasingly recognizes the value of diverse founders in driving innovation and addressing market gaps. Market forces such as heightened awareness of racial inequities, increased demand for inclusive investment practices, and the rise of Black tech talent create a favorable environment for the fund’s mission. By channeling capital and networks to Black entrepreneurs, the fund helps reshape the startup ecosystem to be more equitable and representative, influencing broader industry standards and investor behavior[1][4].
Looking ahead, Black Angel Tech Fund’s influence could grow by reactivating investment activity and expanding its network of Black angel investors. Trends such as the Fourth Industrial Revolution, increased digital transformation, and social impact investing will likely shape its journey. The fund’s ability to scale its mentorship and capital deployment could position it as a pivotal player in democratizing access to venture capital for underrepresented founders. Continued focus on building a robust ecosystem around Black techpreneurs will be essential for sustaining long-term impact and fostering multi-generational wealth creation within the Black community[1].
In summary, Black Angel Tech Fund stands as a specialized, mission-driven investor that addresses systemic barriers in tech entrepreneurship by empowering Black founders through early-stage capital and community support, aligning financial goals with social equity imperatives.
Key people at Black Angel Tech Fund.
