Durham’s Black Wall Street may be long gone, but a team of local angel investors is working on a comeback of sorts.
Meet Resilient Ventures, a new fund “inspired by [its] legacy,” specifically targeting African American-led startups from around the country.
This month, two years after its launch and in the midst of a pandemic, the fund closed on $3.45 million.
Twenty-four investors, “mostly accredited individual investors from their network,” contributed to the fund.
“It’s definitely been difficult and challenging,” says Keith Daniel, owner of Durham-based Madison Consulting Group.
In the wake of global racial protests and the Black Lives Matter Movement, the fund received a bump. But it wasn’t enough for them to reach their original goal of $10 million set before the pandemic hit.
Even so, Daniel is optimistic. “We feel pretty good,” he added.