LERMA Launches Venture Fund with TXV Partners to Support Minority Entrepreneurs
31 de agosto de 2020
LERMA announced its alliance with TXV Partners. The goal of the partnership is to identify, counsel and invest in Black and Hispanic startup firms in a wide range of categories. This venture represents a shared conviction by both companies that funding firms in underrepresented communities will bring about more diverse, inclusive and technologically savvy societies across the USA and Latin America.
TXV Partners was founded in 2019 and aims to fill the need for diversity in the venture capital (VC) arena, a space in which less than 3.5% of all VC in the country are Black or Hispanic owned and/or focused. As TXV Founding Partner Brandon Allen stated, “Minority-owned firms have a uniquely catalytic effect in creating opportunity for under-represented populations. Joining forces with LERMA, we will be able to magnify our ability to build markets with and in minority communities, creating value. This represents a great hope for the companies we fund, as well as for the communities they serve.”
These agency initiatives have a common denominator that Pete Lerma, Founder and Principal, has vehemently professed, “It is our social responsibility to provide a voice for the individuals and social groups that are more vulnerable and that have systematically been marginalized in this country.”
Adding to this, TXV’s Co-Founding Partner, Marcus Stroud stated, “We are truly fired up to partner with one of the most reputable multicultural agencies in the country. We share a vision to help inclusivity and diversity be the norm for enterprises of all sizes, and to tackle this in the United States, in Latin America and other booming global markets where opportunity arises.”
Pete Lerma emphasized, “We read and hear about so many agencies and holding companies talking about their future plans regarding diversity and social equality. We prefer to do rather than to talk. The time for change is now. And the change cannot be gradual. It has to be decisive and transformative.”