News Summary

Collab Capital, co-founded by Jewel Burks Solomon and Barry Givens, has announced the closing of their $75 million Fund II. The fund aims to back early-stage companies in sectors such as the future of work, healthcare, and infrastructure. With major partners like Apple and Goldman Sachs Asset Management, Collab Capital plans to invest in at least 30 companies over the next five years, providing $1 to $2 million per company. This initiative supports Black-led and founded funds, continuing a trend of significant fund closures in this space. Solomon emphasized the challenges of raising the new fund amidst a tough macroeconomic climate but remained committed to the firm’s mission of supporting promising founders tackling systemic issues.