Nex Cubed, the venture accelerator that launched a $40 million fund to target founders from Historically Black Colleges and Universities (HBCUs), announced today a venture scouting partnership with the nonprofit HBCU.vc to help train the next generation of Black venture capitalists.
HBCU.vc offers fellowships and an angel investing network to HBCU students and alumni, and Nex Cubed has trained more than 700 students through its nonprofit foundation.
“Instead of reinventing the wheel and setting up a separate program targeted at HBCUs, we decided to team up with HBCU.vc and provide them with an opportunity to go beyond their fellowship program to provide their fellows with real-life experiences working with a VC firm,” Nex Cubed CEO Marlon Evans told TechCrunch.
Chelsea Roberts, the COO of HBCU.vc, said she hopes this partnership leads to more opportunities for HBCU students and alumni to tap into tech. “That means doing so with resources,” she said, “and having key stakeholders and players in this industry support HBCU talent to ensure they’re on an equal playing field.”
Scout programs are a great avenue for helping aspiring investors build track records and relationships while also allowing firms access to talent and possible deals. This scouting program will see HBCU.vc fellows and its alumni being mentored on everything from performing due diligence to drafting investment memos. Nex Cubed says the fellows will also receive a percentage of carry in the fund if a startup they sourced goes on to receive investments.
Full story: Nex Cubed partners with HBCU.vc to launch scout program | TechCrunch
