Fuze Fund, a Black-owned venture capital firm, has launched a $30 million fund called Fuze Venture Growth Fund I, LP, in hopes of bridging the equity gap among starting entrepreneurs, according to a press release.
The platform is dedicated to providing capital, strategic support, and resources to heighten minority-, veteran-, and women-led startups, following the approval of the U.S. Securities and Exchange Commission. At the start of entering a subscription journey, the comp
any has opened the door for accredited investors to join in, not just with financial contributions but to add to a growing system that uplifts founders with mentorship in hopes of obtaining long-term success.“At Fuze Fund, we’re driven by the belief that innovation knows no boundaries. Yet, we’ve seen far too many talented founders from underrepresented communities being sidelined due to a lack of access to funding,” Fuze Fund’s founder and managing partner, Dr. T.J. Breeden, said. “Our goal is simple: to ignite potential. We’re not just backing startups—we’re investing in people, in communities, and in the next generation of game-changing ideas.”
Breeden worked as the leader of Emerging Entrepreneurs, Inc., a non-profit that provides startup training in underrepresented communities with veteran and minority populations.
“While leading Emerging Entrepreneurs, Inc., I saw firsthand how difficult it was for underrepresented founders to access the funding and support they needed to succeed,” Breeden explained of his time at Syracuse University. “Though a few years passed, and I went on to complete my doctoral studies at the University of Illinois Urbana-Champaign, the hope of one day launching a fund never left me. Less than four months after defending my dissertation, in the fall of 2021 and in the midst of the pandemic, Fuze Fund and its flagship venture fund were formed.”
Studies show that minority founders received only 1.1% of venture capital funding in 2022. That percentage dropped to just 1% in 2023.
For the founder, providing capital is just the first step, as there is a whole ecosystem to transform. “Our focus is to create a comprehensive ecosystem where diverse founders have the guidance, resources, and partnerships they need to navigate and scale growth with confidence,” Breeden said.
Now part of the “U.S. Speaker Program,” sponsored by the U.S. Department of State’s Bureau of Education and Cultural
Affairs, Breeden hopes to extend his program to U.S. embassies and consulates around the world. The goal would be to work with leaders, officials, and subject matter experts in hopes of starting the conversation on topics concerning business owners.RELATED CONTENT: Jay-Z’s Venture Capital Firm Close To Finalizing $1B Merger With Investment Arm of Pendulum Holdings