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Black Tech Nation Ventures Announces Final Close Of $50m Inaugural Fund

Black Tech Nation Ventures (referred to as “” ), a Pittsburgh-based venture firm, announced the close of a $50 million inaugural fund. invests in software startups led by founders from diverse backgrounds that have historically been overlooked by venture funding. The fund believes these Black, Latinx, female, indigenous and LGBTQ+ entrepreneurs have the potential to generate outsized returns within the venture industry as a whole.

“We set up to equip and train a new generation of more diverse entrepreneurs and investors,” said David Motley, one of three general partners. “We remain committed to providing intellectual as well as financial capital to help our founders navigate growing a successful company. The organization seeks to open up opportunities for future venture capitalists who are Black or diverse to participate in the industry.” is investing in high-potential founders at the seed and pre-seed stages. They are building companies with technology that is driving change and unlocking outsized value. These companies are in sectors including fintech, edtech, health tech, climate tech and AI and machine learning. 


The firm has already invested in 10 companies in cities including Atlanta, Boston, the District of Columbia, Indianapolis, New York and Pittsburgh. These include:

  • EMTECH, a fintech infrastructure company; Goodfynd, an enterprise solutions provider for food truckers and mobile vendors
  • The Folklore, an e-commerce platform connecting brands from the African continent to premium retailers in the US
  • Kloopify, provider of supply chain sustainability analytics. Multiple investments have already secured up-round follow-up funding. expects to back 20-30 companies from its inaugural fund. Typically, companies seek entry at the pre-seed and seed stages with checks in the $250,000 to $1M range. The firm has led, co-led and/or helped complete funding rounds. The team has built a unique deal funnel to match its investment focus. This includes diverse professional development groups, top-tier research universities and historically Black colleges and universities. leadership was co-founded in 2020 by three serial entrepreneurs. They are united by a commitment to building and enabling a diverse technology ecosystem.

  • Kelauni Jasmyn is a former software developer and the founder and CEO of Black Tech Nation. The organization is building community and resources to bridge the gap between the Black community and the tech community in Pittsburgh and across the US.
  • David Motley brings extensive experience with technology and innovation-driven companies. He has led a corporate venture fund and co-founded a prior private venture fund.  He also co-founded the African American Directors Forum (AADF). AADF strives to increase representation of African American executives at the public company board level.
  • Seán Sebastian previously founded Birchmere Ventures, a $300m AUM seed-stage investor that led investments in almost 100 portfolio companies. Birchmere has attracted more than $4bn in follow-on capital and achieved over $18bn in market value. The portfolio included 25 diverse-led startups and some of the firm’s strongest performers. is backed by a range of blue chip LPs including Alphabet, First National Bank (FNB Corp), Mark Cuban, First Close Partners and Bank of America.

Jeremiah Gordon, General Counsel at CapitalG, co-led Alphabet’s investment in This was part of a $100 million investment in an initiative into Black-led capital firms, startups and organizations supporting Black entrepreneurs. “We focus on founders from underrepresented groups and geographies. is tapping into a rich vein of entrepreneurship largely unexplored by traditional venture groups,” said Gordon.

For more information about Black Tech Nation Ventures, please visit

Learn how All Raise Boston promotes diversity in venture capital funding.

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