BBG Ventures Makes $60M Close on Second Female and Diverse Founders Fund

New York-based early-stage fund BBG Ventures has now crossed $130M in total AUM with the closing of its second fund, which captured $60M in commitments from new and existing investors.

The fund will invest in high-potential companies with diverse or female founding members, on a “Polycultural America” model criteria based on its proprietary research conducted with online survey platform Centiment.

New partners included Fairview, Pivotal Ventures, California Endowment, Mizuho Financial Group, and I-Bank of California, while returning partners were led by the State of Michigan Retirement Services, Illumen Capital, and the George Kaiser Family Foundation. Fund I investors Bank of America, Global Endowment Management, Gingerbread Capital, Nordstrom, and Verizon likewise reaffirmed support by investing in the new fund.

Source: https://www.reuters.com/press-releases/bbg-ventures-announces-60-million-fund-ii-and-unveils-new-research-investing-in-the-polycultural-future-of-america-2024-10-30/