Lockstep Ventures has raised $25 million as the venture capital firm looks to close the racial gap when it comes to funding new businesses. Co-founder Bonin Bough told Cheddar the company was created specifically to alleviate systemic issues that Black business founders face. While the company is open to providing aid to a business where it can at any stage of its development, Bough said fresh new start-ups where founders lack adequate access to funding will likely be the target group for the company. Bough said Lockstep is focused on businesses in health care, criminal justice reform, education reform, and financial literacy because they can help create “economically viable” businesses and they’re four areas at the heart of systemic change.
Source: https://cheddar.com/media/lockstep-ventures-focuses-on-investing-in-black-businesses-to-close-racial-funding-gap
