New Media Ventures (NMV) is a beacon of hope in the world of funding for progressive causes. Despite the challenges facing American democracy and the persistent barriers to closing racial disparities, NMV is forging ahead with its mission. With a vision to raise its first venture capital fund and continue supporting early-stage companies through its Innovation Fund, NMV has established itself as a leader in funding technology for social good.
The landscape of fundraising can be treacherous, with increased competition, donor fatigue, and a slowdown in venture capital funding for small, diverse emerging managers. However, NMV is undeterred, showing that where there is a will, there is indeed a way. Having raised over $65 million for 142 early-stage companies and startups, including notable names like Blavity, ActBlue Civics, and Hustle, NMV’s impact is undeniable.
From its humble beginnings as an angel network to its evolution into funding early-stage for-profits through the Innovation Fund, NMV has been a trailblazer in the world of progressive investing. Carlissia Graham, the president at NMV, highlights the power of their approach: “We have folks who put dollars in the fund and invest directly. The power of NMV is that we can take our investment and capitalize it, to bring in follow-on funding from the folks in our network as well.”
While the current market conditions present challenges for raising philanthropic and investment funds, NMV remains committed to supporting startups and initiatives that drive social impact. Graham emphasizes the importance of grants in helping these endeavors find their footing, scale effectively, and ultimately deliver meaningful results. Despite the obstacles in their path, NMV continues to pave the way for positive change.
As the conversation around diversity and inclusion in venture capital evolves, NMV stands out as a champion for underrepresented voices. With a focus on supporting Black and Latino VC fund managers and founders, NMV is working to address the disparities in funding allocation. By championing diversity in leadership and investment decisions, NMV is leading by example and setting a new standard for the industry.
In a world where funding for social good is crucial, NMV’s dedication to supporting innovative solutions and diverse voices is more important than ever. As they navigate the ever-changing landscape of fundraising, NMV remains a guiding light for those looking to make a positive impact on society. With their bold vision and unwavering commitment, NMV is reshaping the future of progressive investing and paving the way for a more equitable and inclusive world.
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