LOS ANGELES -
Dec. 12, 2023 -
PRLog -- Diversity-focused venture fund, Fabric VC, is thrilled to announce their close 1 of ~$2 million for its first fund with the thesis of backing top decile diverse founders with mission-aligned private investors to shift the paradigm of venture capital.
Founded by GP Laurel Mintz, Fabric began raising funds in 2023 with the goal of fixing the systemic barriers in VC both on the founder and funder sides to weaving a better future for BIPOC, LGBTQIA+ and women founders.
Following the firm's quadruple bottom line approach, Fabric will invest in startups that generate benefits for people, planet, profit and purpose. Previous to the first close, the fund had already backed Cadence, an AAPI woman-owned startup creating patented magnetic containers made from recycled material of ocean-bound plastic and material scraps.
"While raising this first round, I've met many inspiring founders whose aligned passion to change the face of venture makes me excited to start deploying in deserving companies," Mintz concluded.
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