Mendoza Ventures, a female and Latinx-founded Fintech, AI, and Cybersecurity Venture Capital firm, has achieved a first close on its third fund. The $100M fund will invest in early growth stage startups with a focus on diverse teams. The initial close was led by Bank of America, including Grasshopper Bank and other investors.
“As a female and Latinx founded and led venture fund, we are uniquely positioned to fund the series A to B for diverse or female led founders,” says Adrian Mendoza, General Partner of Mendoza Ventures. “This is one of the very few diverse-led VC funds that are funding at this stage especially in a market where capital is shrinking for diverse founders.”
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Fund II’s capital allocation of 80% to underrepresented founders (defined as female, immigrant, person of color, or LBGTQ) underscores how these commitments have ripple effects from diverse founders to impacting diverse communities through fintech. Fund III breaks the $100M glass ceiling for female and diverse GPs in Venture Capital and fill in the early growth capital gap for diverse and female-led startups.
SOURCE: PR Newswire