Black investor, Monique Woodard has launched a $17-million fund beneath her new enterprise capital agency, Cake Ventures. This fund, which comes as Monique’s first beneath Cake Ventures, is supported by Financial institution of America, Cendana Ventures, Foundry Group, Pivotal Ventures, Plexo Capital, and Screendoor.
Asserting the seed funding through her official Twitter deal with, Monique famous that “elevating a debut fund isn’t straightforward – even when you have prior investing expertise. However first funds are like traditional hip-hop albums — they outperform.”
In line with the African-American enterprise capitalist, Cake Ventures goals to make pre-seed and seed investments in corporations on the forefront of demographic change.
Monique famous that the change can be by way of an growing old and longevity-minded inhabitants, the elevated incomes energy of ladies in society, and a shift in direction of early-tech adopters coming from Asian, Black, and Latino backgrounds.
“I’m focused on corporations that assist folks age in place, entry healthcare, handle funds, or discover work and goal past retirement.”
From the just lately launched fund, Monique, who plans to make about 25 investments, has made 12 investments already.
In her phrases, Woodard burdened that she checked out corporations in another way earlier than investing in them. She mentioned “It’s the lens by which I view corporations. Even corporations that don’t ‘appear like’ demographic change corporations on the floor have a layer of this beneath the hood.”
Monique expressed perception that the focused start-ups within the fund would cater to buyer bases that mirrored the layers of demographic change.
Monique Woodard’s profession as a enterprise capitalist
Monique has been a veteran of startups and enterprise capital for 20 years. In 2016, Woodard made headlines when she joined 500 Startups as its first African-American enterprise accomplice. It is because she elevated the agency’s investments in black and Latino tech entrepreneurs.
Throughout her keep at 500 startups, Monique additionally led a $25-million microfund that made important investments in Black and Latino founders and rising markets.
The African-American enterprise capitalist, after her keep at 500 ventures grew to become a Enterprise Scout at Lightspeed Enterprise Companions.
Monique additionally holds 2 board and advisor roles as Founding Advisor at Girls 2.0 and Board Member at Silvernest.
Monique additionally served as a trusted advisor to foundations and enterprise capital corporations like SoftBank, the place she suggested on the Imaginative and prescient Fund’s Emerge program.
Monique’s funding historical past
Monique Woodard is understood for her experience in client and enterprise know-how and has invested in startups in a variety of sectors, together with schooling, healthcare, and monetary companies.
Described as an early-stage investor on the intersection of know-how and newly highly effective client teams, Monique investments embrace Blavity, Courtroom Buddy, Mented Cosmetics, Silvernest, and plenty of others.
The African American Enterprise Capitalist on June 15, 2020, invested in Pre Seed Spherical – Gemist.
At present, Monique prioritises funding in the way forward for know-how being pushed by main demographic developments. She invests in corporations with international ambitions, creating know-how merchandise that meet the wants of tomorrow’s web customers.
Monique has additionally been a mentor and advocate for underrepresented founders and has served on the boards of a number of startups.