Pitchbook reported that Andreessen Horowitz is raising roughly $15 million for a new fund geared toward backing black celebrities, athletes and media figures, according to The Wall Street Journal.
The confirmed LPs on this project is Golden State Warriors star Kevin Durant, actor Will Smith and Richelieu Dennis, who’s the publisher of Essence magazine. Apparently the three have already made names for themselves for investing in Silicon Valley. Pitchbook highlights that Durant has closed several deals, both individually and through The Durant Company. Durant is also in the process of raising a new VC vehicle called The Dreamers Fund through a partnership with the soccer star Keisuke Honda.
Article Source: https://pitchbook.com/news/articles/andreessen-horowitz-wants-to-fund-more-black-entrepreneurs
Image Courtesy: Gage Skidmore