TL;DR:
- Collab Capital closes $75M Fund II to invest in early-stage startups.
- Jewel Burks Solomon and Barry Givens co-founded the firm in 2020.
- Fund II includes backing from Apple, Goldman Sachs, and Leon Levine Foundation.
- The fund targets startups in future of work, healthcare, and infrastructure.
- Collab aims to prove that shared prosperity yields competitive returns.
Collab Capital Secures $75 Million to Back Underrepresented Founders
Collab Capital, the venture capital firm led by Jewel Burks Solomon, has officially closed its second fund with $75 million in commitments. This new capital infusion builds on the firm’s commitment to supporting early-stage startups led by historically underrepresented founders.
Solomon, best known for her work leading Google for Startups US, co-founded Collab Capital in 2020 with Barry Givens. Their initial $50 million Fund I supported 38 companies, including notable names like Goodr, a sustainable waste management platform, and Culina Health, a digital nutrition platform.
The success of Fund I has fueled momentum for this second round, despite a challenging fundraising environment.
“We were navigating a tough macro climate and shifting LP priorities,” Solomon told TechCrunch. “But we stayed committed to our vision and built strong relationships with LPs who see both the urgency and the opportunity in what we’re doing.”
Fund II Investment Strategy
Fund II will continue investing in seed and Series A companies, specifically in sectors like:
- The future of work
- Healthcare innovation
- Infrastructure transformation
Collab Capital plans to back at least 30 companies over the next five years. Check sizes will range from $1 million to $2 million, with 40% of the fund reserved for follow-on investments.
Already, six companies have received capital from Fund II.
The Data
| Fund Details | Information | Source |
| Fund Name | Collab Capital Fund II | TechCrunch |
| Total Capital Raised | $75 million | TechCrunch |
| Founders | Jewel Burks Solomon, Barry Givens | TechCrunch |
| Key Limited Partners | Apple, Goldman Sachs Asset Management, Leon Levine Foundation | TechCrunch |
| Investment Focus | Future of work, healthcare, infrastructure | TechCrunch |
| Number of Companies Backed | 30+ (goal), 6 already funded | TechCrunch |
The Collab Capital Philosophy
At its core, Collab Capital operates on the thesis that shared prosperity is scalable and can deliver competitive financial returns. Solomon says Fund II allows the firm to make “bigger bets” on founders solving deeply entrenched challenges.
“What’s next is deeper conviction, bigger bets, and continued proof that shared prosperity is scalable,” Solomon noted.
This mission-driven approach aims to redefine how impact and financial performance coexist in venture capital.
Momentum Across Black-Led Funds
Collab Capital’s announcement aligns with broader momentum in the venture space for Black-led and Black-founded VC firms. In recent months:
- Zeal Capital Partners closed an $82M Fund II.
- Symphonic Capital, founded by Sydney Thomas, raised a $13.5M Fund I.
- Cherryrock Capital, led by Stacy Brown-Philpot, announced a $172M Fund I.
- Slauson & Co. closed a $100M Fund II.
This trend signals a growing ecosystem of institutional support for diverse-led investment firms tackling funding inequities.
Building for the Long-Term
Although raising Fund II took nearly two years, the Collab Capital team maintained a clear vision. They worked through macroeconomic headwinds, changing LP expectations, and competitive capital landscapes.
With strong institutional backing and a mission-centric thesis, Fund II represents both a financial milestone and a strategic expansion for the firm.
As Collab Capital moves into this new phase, the firm aims to deepen its impact, widen its network of LPs and founders, and demonstrate the long-term viability of equity-focused venture capital.
