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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.
Foundation: Lilly Endowment
All In Kosciusko exists to promote and accelerate the economic and community development already happening across the county.Concerns about economic diversification, talent retention and quality of...more
The Bill Gatton Foundation supports K-12 and higher education, health, and community development in Kentucky, Upper East Tennessee, and Southwest Virginia.Large education grants include $13.5 million...more
Local organizations win $9 million for new affordable housing, social services.Connecticut's Community Investment Fund grants come amid a deluge of cuts to federal funding.The fund was established in...more
Foundation: Parasol Tahoe Community Foundation
Parasol Tahoe Community Foundation has proudly supported Bread & Broth for the past 10 years.In 2024, the Community Foundation was able to introduce the mission of Bread and Broth to a donor who is...more
Foundation: Latino Community Foundation
Latino Community Foundation Awards $3.88M in Grants Across California and Nevada.NewsBreak: Latino Community Foundation awards $3,000,000 in grants across California andNevada.Newsbreak: $1.5 million...more
Alejandro Betancourt Lopez rejects traditional corporate social responsibility models that separate business operations from community impact.Rather than limiting community engagement to corporate...more
Thoughtful giving isn't just about making a donation, it's about creating meaningful impact.Community foundations exist to connect generosity with need, ensuring that charitable giving is both...more
Kareem Thomas most recently served as Chief Credit and Lending Administration Officer at Reinvestment Fund.Bhavani Daryanani has more than 20 years of experience in the sector, bringing deep...more
SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation Hero Award for Partner in Philanthropy.The SECU Foundation promotes local community development in North...more
Foundation: Hutchinson Community Foundation
Residents say increases in average household income and businesses that pay above average wage are the top indicators of economic progress in Reno County.They also identify attracting new businesses,...more
Community Building News from...
Wells Fargo Foundation
New Hampshire Charitable Foundation
Community Foundation of Southeast Kansas
Dallas Foundation
Oak Park-River Forest Community Foundation
Greater Washington Community Foundation
Rhode Island Foundation
Community Foundation for Greater Atlanta
California Community Foundation
Arizona Community Foundation
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.
