A Latino group that connects venture capitalists with startups and pushes media to diversify has raised its first $100 million fund focusing on new Hispanic companies.
the Stanford Latino Entrepreneurship Initiative, and the research nonprofit firm Latino Donor Collaborative.announced this week it had raised over $100 million for the fund through a strategic anchor investment by JPMorgan Chase and initial investments from Trujillo Group and Bank of America.
Other investors include U.C. Investments and MassMutual, Barclays, the Royal Bank of Canada and Polaris Limited Partners. L’Attitude Ventures founder and general partner Sol Trujillo said the fund is an opening salvo for an investment boom directed toward early-stage Hispanic-owned companies.for about 50% of net new small business growth in the U.S. over the past decade, according to data from 2007 to 2017.the study found.The total economic output of U.S. Latinos reached $2.7 trillion in 2019 and would be tied for the seventh-largest GDP in the world if U.S.
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