The Equity Alliance, a New York City-based investment fund run by CEO Claude Grunitzky, closed Fund I, at $28m.
Original investors Dick Parsons, Ronald S. Lauder, Eric Zinterhofer, Scott Kapnick, Michael Novogratz, and Lerer Hippeau are joined by a group of limited partners including Schusterman Family Investments, Bank of America, Ford Foundation, LionTree, Women Moving Millions co-founder Jacki Zehner, and Celo co-founder Rene Reinsberg. Other early backers of the Equity Alliance include Scott Kapnick, CEO of HPS Investment Partners, a global investment firm that seeks to provide creative capital solutions and generate risk-adjusted returns for its clients.
The fund invests in diverse, emerging venture capital fund managers, with a focus on managers of color and women.
The VC firms the Equity Alliance has invested in are Concrete Rose Capital, Cleo Capital, Fearless Fund, Collab Capital, Moxxie Ventures, Serena Ventures, Inspired Capital, Visible Hands VC, Hometeam Ventures, Divergent Capital, and Volt Capital.
The Equity Alliance also co-invests in select early-stage ventures alongside the VC firms it backs. They made its first direct investment in Esusu, a fintech startup which is a portfolio company of Concrete Rose Capital and Serena Ventures.
FinSMEs
07/02/2022