Venture obtains a rare fund led by Amerindians in Betsy Fore Velveteen companies

When Betsy Fore was five years old, her grandmother gave her a gift that she has never forgotten: a velvet rabbit of the good will that believed, with enough love, could spring alive. Decades later, this rabbit lent his name to the venture capital company, Velveteen Ventureswho came to life on Tuesday.

“I realized that after having developed companies for almost two decades, I could make the greatest undulation in this precious life by being on the other side of the table,” she told Techcrunch. Its companies include the Baby Food Society Tiny Organics (for which it became the first Amerindian woman To raise an A series) and the Wondermento application manufacturer.

“Instead of building one thing, I can help other founders build dozens of companies that change their lives,” said Fore.

Fore refused to share the amount that the company’s fund would aim to raise, but the DSA deposits show that it began to increase in October. The company, based in the Midwest, will seek to invest $ 500,000 at $ 4 million in seed companies and series A, focusing on the health, climate, consumers and communities sectors. He hopes to invest in at least 15 to 20 companies.

More interesting, however, with this launch, Fore becomes one of the few Amerindian women to launch a venture capital company in the United States

A few years ago, when Techcrunch looked for financing statistics for the Amerindian founders, the figures were so weak that they could hardly be pulled with precision. Fore has worked to change that – she has a non -profit organization that worked Offer mentorship and opportunities to the Amerindian founders.

Describing the fundraising process, Fore said that it was “exciting to have held the closing institution” and says that it has “support for the institutions focused on the objective” which believe that a high return on investment also exists in the Midwest.

“I discovered that when we bring an LP, it is because they were looking for us,” she said.

Karla Brollier, also of native origin, originally from Patagonia, will join Velveteen, which will lead climate investments. Katherine Stabler joins the cabinet as chief of the farm, after decades as a lawyer for private funds.

Fore said that she hoped to honor her ancestors as she directs the fund, adding that part of the I will go to the Amerindian tribes.

“Although it is not an impact fund,” she said, “Velveteen plans to prove that the profits and the goal go hand in hand.”

Fore has previously worked at Xfactor Ventures and Longjump Ventures (and is about to publish a book on entrepreneurship and venture capital).