The Black Founders Fund targets startups with active founders who self-identify as Black, are incorporated and operating in Brazil, and are seeking pre-seed or seed-stage investments.
Google for Startups provides financial resources without requiring equity or counterpart commitments to startups founded and led by Black entrepreneurs in Brazil. The initiative aims to enhance racial diversity in the startup ecosystem and support Black founders.
Potential startups are evaluated based on the following criteria:
- Growth potential and the solution’s ability to positively impact Brazilians’ lives;
- Founders’ vision, alignment of objectives, and team synergy;
- Technology-driven solutions as the core of the business;
- Seed-stage funding needs to fuel the next phase of development.
“We do this by connecting entrepreneurs and startups to Google’s core strengths…” says André Barrence, Head of Google for Startups. The first fund, launched in 2020 with BRL 5 million, invested in 33 companies. The second fund, announced earlier this year, totals BRL 8.5 million and will allocate funds to 25–30 companies.
Watch the video below from the Café com Investidor podcast, where Barrence discusses the origins of Google for Startups, details the Black Founders Fund’s investment strategy, and analyzes efforts to foster inclusion and diversity in Brazil’s entrepreneurial ecosystem.