(Bloomberg) — The world’s largest Black-led venture capital firm, Base10 Partners, just got bigger, raising $250 million to invest in startups and back a handful of initiatives designed to diversify the mostly-White industry.
The San Francisco-based firm plans to announce its second fund Friday at nearly twice the size of its previous one. Base10 also pledged to immediately and permanently donate 1% of management fees and 1% of the firm’s future profits to organizations focused on increasing racial justice and representation in tech.
