Collab Capital, a Black-owned venture capital firm founded in 2019, has successfully closed its $75 million Fund II, bringing its total assets under management to $125 million.

Fund II aims to support early-stage startups focusing on essential needs in work, healthcare, and community infrastructure.

The firm plans to invest between $1 million to $2 million in approximately 30 companies over the next five years, with 40% of the fund allocated for follow-on investments.

Specifically, Fund II will concentrate on Seed and Series A investments in areas related to work, healthcare, and community infrastructure.

Co-founders Jewel Burks Solomon and Barry Givens emphasize the importance of investing in founders who possess a deep understanding of the problems they aim to solve.

Burks Solomon highlighted the necessity of backing the right founders with adequate support, refining their investment model around economic mobility, healthcare access, and community infrastructure.

Givens noted that Fund II is structured to create a flywheel effect, enhancing early investment, deep founder support, and long-term partnerships to drive successful outcomes.

In addition to financial support, Collab Capital prioritizes founder well-being by providing free therapy sessions through a partnership with CWC Coaching and Therapy for every founder in its portfolio.

The firm aims to create jobs, promote economic mobility, and build generational wealth through its investments.

This milestone is particularly significant as Black fund managers receive less than 1% of total annual venture capital funding.

Collab Capital gained recognition for its innovative approach to venture capital, particularly with its previous Fund I, which raised $50 million.

Givens believes that now is the time to invest, asserting that opportunities often exist where others hesitate.