Collab Capital Closes $75M Fund II to Scale Support for Underrepresented Founders
Backed by major investors and a clear mission, Collab Capital’s new $75M fund marks a significant milestone for diverse venture capital. Co-founded by tech leader Jewel Burks Solomon, the firm has announced the close of Fund II, continuing its bold commitment to early-stage founders solving systemic problems. The fund includes support from high-profile limited partners like Apple, Goldman Sachs Asset Management, and The Leon Levine Foundation. It arrives at a pivotal time when more capital is flowing toward Black-led VC firms, reinforcing momentum for inclusive innovation.
Collab Capital’s Fund II Will Back Early-Stage Innovation
The $75 million Fund II will support early-stage companies—primarily seed and Series A rounds—working across the future of work, healthcare, and infrastructure. Solomon emphasized that this fresh capital allows the firm to “double down” on its mission, helping entrepreneurs build businesses that create measurable impact. Each portfolio company can expect investments between $1 million and $2 million, with at least 30 companies projected to receive funding over the next five years. The fund has already deployed capital into six startups, while 40% is set aside for follow-on investments, reinforcing long-term backing.
Jewel Burks Solomon’s Leadership Fuels Purpose-Driven VC
Jewel Burks Solomon, well-known for her leadership at Google for Startups US, co-founded Collab Capital with Barry Givens in 2020. Their inaugural $50 million Fund I backed 38 companies, including waste management startup Goodr and personalized health platform Culina Health. With Fund II, Solomon envisions making bigger bets with deeper conviction. “Shared prosperity is scalable and can generate competitive returns,” she stated, underscoring her belief that investing in underestimated founders isn’t just the right thing to do—it’s smart business.
Rising Wave of Black-Led Venture Capital Firms
Collab Capital’s announcement adds to a growing trend of Black-led VC firms closing substantial funds. From Zeal Capital Partners’ $82 million Fund II to Stacy Brown-Philpot’s Cherryrock Capital raising $172 million, this movement reflects a fundamental shift in how the industry views diversity and opportunity. Though Solomon described the fundraising process as "incredibly hard," citing a difficult macro environment and evolving LP priorities, her team’s perseverance paid off. By building strong relationships and staying true to their mission, they’ve positioned Collab Capital as a force for sustainable and inclusive growth.
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