Impact X Capital Partners Seeks to Raise £100 Million for Second Fund
Investing in Diversity and Innovation
Impact X Capital Partners, a venture capital investor focusing on diversity, is aiming to raise £100 million for its second fund. The fund has already secured backing from prominent investors like Bank of America, signaling a strong start for Impact X’s new investment endeavors.
Empowering Underrepresented Entrepreneurs
With a mission to empower underrepresented entrepreneurs, Impact X plans to invest in later-stage seed and Series A funding rounds across various sectors, including technology, media, and healthcare. The firm aims to address the existing disparities in capital allocation and provide support to diverse-led businesses.
Driving Positive Change in Investment Statistics
Paula Groves, Impact X’s Founding Partner and Chief Investment Officer, emphasized the importance of increasing funding opportunities for women and Black entrepreneurs. By partnering with institutions like Bank of America, Visa Foundation, and Guy’s and St Thomas’ Foundation, Impact X is set to make a significant impact on the current investment landscape.
Building a Strong Investor Network
Joining Bank of America in supporting Impact X’s initiatives are key players like the Visa Foundation and Atomico. These partnerships highlight the growing interest in promoting diversity and inclusion within the investment community, paving the way for a more equitable future.
Backing Innovative Businesses
One of Impact X’s initial investments from its new fund is in iKnowa, a British property technology company. This strategic move reflects Impact X’s commitment to backing innovative businesses that have the potential to drive positive change in their respective industries.
Creating Lasting Impact
Eric Collins, Impact X’s Chief Executive and Founding Partner, expressed optimism about the new fund’s potential to make a lasting impact on diverse-led businesses. With substantial capital allocation and strong investor support, Impact X is poised to create meaningful change in the entrepreneurial landscape.
Driving Economic Opportunity
Bernard Mensah, President of International at Bank of America, emphasized the institution’s commitment to advancing economic opportunity for diverse communities. The investment in Impact X’s fund underscores Bank of America’s dedication to driving positive change and fostering inclusive growth.
Supporting Innovation and Diversity
As Impact X embarks on its journey to raise £100 million for its second fund, the firm’s focus on supporting innovation and diversity stands out as a beacon of hope for underrepresented entrepreneurs. Through strategic partnerships and impactful investments, Impact X is set to redefine the venture capital landscape and champion diversity in entrepreneurship.
