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"The future of capital looks different than it did yesterday," Caroline von Hirschberg, co-founder and co-CEO of Spring, says in a press release announcing the company's acquisition of Future Capital.
That's because, as Quartz reports, investment dollars to black startup founders dropped more than 50% last year, and woman-founded startups raised just 1.9% of all venture capital funds.
"Far too many industries are dominated by competitive and insular mindsets," von Hirschberg says.
"We know we can move faster together to transform ways the whole ecosystem thinks about investing, starting companies, and innovation as a whole."
Spring, based in Vancouver, BC, will continue to operate independently.
Future Capital, based in San Francisco, is "a leader in Canada's early stage impact investing ecosystem," per the press release.
It offers "high-impact investor training" and "learning and investing platform built for underrepresented early-stage investors," per the release.
It's "an incredible step forward for bringing wealth creation opportunities to underrepresented communities," Keith Ippel, Spring's co-founder and co-CEO, says in the press release.
Quartz notes that while more women and people of color are starting startups, "it's hard to
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Social Entrepreneurship
Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
