New VC "Collab Capital" Closes $75M Fund with Apple & Goldman Sachs Backing

A New Chapter in Inclusive Venture Capital

In a landmark moment for diversity in venture capital, Collab Capital has closed a $75 million Fund II, with backing from Apple, Goldman Sachs Asset Management, and The Leon Levine Foundation. This achievement represents more than just fundraising success—it's a powerful statement about the growing recognition that diverse perspectives drive superior investment returns.

The Power of Proximity

Founded by Barry Givens, Justin Dawkins, and Jewel Burks Solomon—the former head of Google for Startups US—Collab Capital operates on a simple but revolutionary principle: "founders closest to the problem are best positioned to solve it." This "proximity is power" philosophy has proven its worth through their successful $50 million Fund I, and now scales with significantly more firepower.

Fund II brings Collab's total assets under management to $125 million, positioning them as a major force in early-stage investing. But what makes this milestone particularly significant is the caliber of institutional backing they've secured.

Why Apple and Goldman Sachs Are Betting Big

The participation of Apple and Goldman Sachs Asset Management signals a seismic shift in how major institutions view diversity-focused investing. These aren't charitable contributions—they're strategic investments in a proven model that identifies overlooked opportunities in the market.

Raising $75 million as a Black-owned venture capital fund is no small feat, especially considering that Black fund managers receive less than 1% of total venture capital allocation. Collab's success in attracting blue-chip limited partners demonstrates that their investment thesis resonates beyond social impact—it delivers financial returns.

The Three-Pillar Investment Strategy

Collab has organized its approach around three key thematic pillars: economic mobility, healthcare access, and community infrastructure. These aren't abstract concepts—they represent massive market opportunities that traditional VCs have historically underestimated.

Economic Mobility: Investing in platforms that democratize access to financial services, education, and career advancement.

Healthcare Access: Supporting telehealth and digital health solutions that serve underserved communities.

Community Infrastructure: Backing technology that strengthens local economies and social connections.

Portfolio Power Plays

Fund II will enable Collab to invest $1 million to $2 million in approximately 30 companies over a five-year period. Six companies have already received investments, showcasing the diversity of their investment approach:

• SparkCharge: The world's first mobile, off-grid EV charging platform for fleets

• River Health: A telehealth provider delivering affordable, membership-based healthcare

• A0: A platform transforming mobile development by using AI to generate fully functional React Native apps in minutes

These investments demonstrate Collab's ability to identify companies at the intersection of technological innovation and social impact—a sweet spot that traditional VCs often miss.

Beyond Capital: The Founder-First Approach

What sets Collab apart isn't just their investment strategy—it's their commitment to founder success. The VC firm will continue to prioritize founder well-being, offering free therapy sessions through a partnership with CWC Coaching and Therapy to every founder in its portfolio.

This holistic approach recognizes that building a company is intensely personal, and that founder mental health directly impacts business outcomes. It's a level of support that goes far beyond traditional VC relationships.

The Bigger Picture

Collab Capital's Fund II success arrives at a critical moment. The announcement comes as Black-led and founded funds continue closing sizable funds, suggesting that the venture capital ecosystem is finally beginning to address its diversity deficit.

The backing from Apple and Goldman Sachs isn't just about this single fund—it's validation of a new model that combines social impact with financial returns. "We're investing in the infrastructure of an inclusive economy, where real solutions generate real returns for our communities and for our investors," Solomon adds.

What This Means for the Future

Collab Capital's achievement represents more than successful fundraising—it's proof that diverse perspectives create competitive advantages in venture capital. By focusing on founders with lived experience solving real problems, they're identifying opportunities that others miss.

The institutional backing from Apple and Goldman Sachs signals that major players are recognizing this advantage. As more corporations realise that diversity drives innovation, we can expect to see increased investment in funds like Collab Capital.

For founders, this represents expanded opportunities. "Fund II is designed to be a flywheel where early investment, deep founder support and long-term partnership build momentum and multiply outcomes," Barry Givens, co-founder and managing partner said.

The success of Collab Capital's Fund II isn't just a win for diversity in venture capital—it's a preview of an industry that's finally learning to tap into previously overlooked sources of innovation and returns. With Apple and Goldman Sachs backing their vision, Collab Capital is positioned to prove that inclusive investing isn't just morally right—it's financially smart.

The venture capital industry is evolving, and funds like Collab Capital are leading the charge toward a more inclusive and ultimately more successful investment ecosystem