Durham venture fund Resilient Partners raising more cash to support African American entrepreneurs
DURHAM — Resilient Partners filed with the SEC last week to announce a new round of fundraising with a target of $15 million. This is the capital fund’s second round of fundraising with their first in 2019 raising nearly $3.5 million.
Based in Durham, Resilient Partners is focused on investment in African American founders in an effort to address the wealth gap and achieve racial equality and economic justice. Black entrepreneurs have historically had a harder time securing funding, receiving only about 2% of funds and that problem seems to be worsening. When inflation and interest rates rose last year, VC funding dropped by 36%, however, African American founders saw a 45% drop in investments.
Founders Keith Daniel and Tom Droege have raised nearly $2 million so far in this round, with contributions from 13 investors. The fund is looking for minimum investments of $100,000 each. More information for Resilient Partners investors and potential portfolio companies are available on their website.