Today's Date: June 19, 2021
Mohawk Council of Kahnawake issues statement as Bill C-218 enters the home stretch   •   Hazelden Betty Ford Graduate School of Addiction Studies Announces Scholarship for BIPOC Applicants   •   OHUB Hosts 2nd Annual Juneteenth 4.0 Celebration in New Orleans, Announces OHUB x NOLA Innovation & Equity District with 153   •   AHF Launches New Campaigns “Hook Up With Us” Addressing 6th Straight Year of Increases in STDs and “AHF Is Res   •   Egale Virtually Closes The Market   •   Clark Atlanta University Welcomes Vice President Kamala Harris To CAU And Accepts The White House COVID-19 College Vaccine Chall   •   Sparks Are Flying! MCR Purchases the Home2 Suites by Hilton Evansville Just in Time for the Fourth of July   •   Granite and Granite CANDID Partners with Black-Owned Businesses to Commemorate Juneteenth   •   The first-ever Black-owned social job network built on blockchain technology launches Juneteenth   •   Bridging the Racial Wealth Gap: Milken Institute Outlines 14 Strategies to Partner with Mission-Focused Banks   •    Coming Together: California Youth Connection and Foster Youth in Action Announce Merger Designed to Increase Capacity, Res   •   Magellan Healthcare Hosts Webinars in Support of BIPOC Mental Health Awareness Month in July   •   Procter & Gamble & Tribeca Studios Announce Widen the Screen Film Program Premiere at Tribeca Festival   •   Panzura Signs Juneteenth Pledge   •   The Greater Indian Land Chamber of Commerce Formally Welcomes Watercrest Fort Mill-Indian Land Assisted Living and Memory Care   •   HITN Broadcasts “Vacunate Por Todos” Exclusive Program Addressing Common Vaccine Concerns and Questions Among the La   •   Let's Kick Off Summer 2021   •   Delaware Courts Close in Honor of Juneteenth While Courts Remain Overwhelmingly White Despite Activist Demands   •   How Diversity In Dentistry Mentorships Impacts BIPOC Communities   •   Author H. H. Leonards Partners with R.H. Boyd Publishing Corp. for book about the life and lessons of Mrs. Rosa Parks
Bookmark and Share

One of the Largest Latina-Led Funds in the US, Ulu Ventures, Raises $138M for its Third Fund

PALO ALTO, Calif. , May 17 /Businesswire/ - Ulu Ventures, a leading seed stage venture firm in Silicon Valley focused on enterprise IT, raised $138M for Fund III, exceeding its initial $100M target. The fund strategy will continue Ulu’s commitment to funding diverse teams creating industry-leading market opportunities.

Ulu’s institutional investors include: higher education endowments the University of Rochester and Grinnell College; 7 foundations such as the John D. and Catherine T. MacArthur and Harry and Jeanette Weinberg Foundations; public pension fund investor Los Angeles Fire and Police Pension; and leading financial institutions Bank of America and Goldman Sachs. Funds of funds, including Black and/or women-led firms Fairview, Plexo, and Illumen Capital, participated along with venture firm Norwest Venture Partners and family offices One World Investments, Inc. and the Kwanza Jones & José E. Feliciano SUPERCHARGED Initiative. Corporate investors including Twitter and Motley Fool Ventures also invested in Fund III.

The investment from Goldman Sachs is part of Launch with GS, the firm’s $1 billion investment strategy grounded in the belief that diverse teams drive strong returns. “Our investment in Ulu Ventures furthers our shared goal to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs,” said Suzanne Gauron, head of Launch With GS.

“We are thrilled with the caliber of institutional investors who have supported Fund III! Ulu has been funding diverse entrepreneur teams for more than a decade and created a disciplined, data-driven investment process that reduces cognitive bias and produces top-tier financial results,” said CEO, Co-founder and Managing Director Miriam Rivera.

With more than $200M AUM, Ulu has eight unicorns in the portfolio including Guild Education, BetterUp, Figure, Provenance and SoFi, Krux (sold to Salesforce), Proterra and Palantir.

Currently 6 of the 8 unicorns and 85% of Fund III firms include a woman, minority, underrepresented minority (URM) or immigrant founder. (79% of Fund II companies have such diverse founders). Leading diverse founders have launched multiple successful Ulu startups. According to Crunchbase, Ulu was one of the top ten micro VC firms investing in Black and LatinX founders from 2015 to August 2020.

“Ulu has been a leader on the diversity front proving that an inclusive strategy can generate alpha and drive superior returns,” said Lo Toney founding managing partner Plexo Capital.

Five Ulu portfolio companies initiated public offerings in the last three quarters including: Palantir (NYSE:PLTR), SoFi (NYSE:IPOE est 2021), Proterra (NASDAQ:PTRA est. 2021), Figure (NYSE: FACA) and Zebit (ASX:ZBT).

Ulu diversifies seed stage risk through large portfolio construction and is actively invested in 160 companies across all three funds. "Ulu also has an edge in the Stanford ecosystem that allows us to access highly competitive or oversubscribed deals," said Co-founder and Managing Director Clint Korver.

Ulu builds relationships with founders with a collaborative market mapping process, comprehensive onboarding, targeted support, as well as referrals to Series A investors to help Ulupreneurs take their companies to the next level.

About Ulu Ventures:

Ulu Ventures is a top seed stage venture fund in Silicon Valley focused on enterprise IT startups. Ulu generates great financial results using decision analysis to create a disciplined, repeatable decision-making process that analyzes risk-reward trade-offs and also reduces cognitive bias. The great majority of Ulu portfolio companies are founded by diverse teams that include women, minority, URM and/or immigrant founders. Ulu is dedicated to increasing diversity in the entrepreneurial and assets under management communities.


STORY TAGS: Professional Services, Consumer, Technology, Women, Other Technology, Finance, Internet, California, United States, North America, Funding, Product/Service,

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
Breaking News
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News