We’re thrilled to announce the 19 companies selected for our PledgeLA Founders Fund 2023 Cohort!
Created to address the systemic barriers that Black and Latinx entrepreneurs face when seeking capital for their companies, the PledgeLA Founders Fund, in partnership with Grid110, is an accelerator program that transcends mere investment. The main goal of the program is to generate at least five times the economic impact from the initial funding provided, measured in the following three areas: follow-on capital, new employees hired, and increased recurring revenue. Since launching a successful pilot program in 2021, the Founders Fund alumni companies have collectively raised more than $20 million in follow-on capital. Furthermore, the program has helped create 82 new jobs at alumni companies with 60% of companies using stipends for hiring or job creation, and 70% reporting increased recurring revenue.
Click here to read more about the 2023 cohort.
To hear first-hand from the cohort members, check our our short video below: