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HBCU Grad Makes History as First Black President of the Academy of Physicians in Clinical Research (APCR)

by Alex Turner November 16, 2023

written by Alex Turner

A respected gynecologist who practices in New Orleans and Shreveport, Louisiana, Dr. Leonard Weather, Jr., RPh, MD, FAPCR, was recently chosen to serve as President of the Academy of Physicians in Clinical Research (APCR). Dr. Weather is the first African American in the organization’s long history to hold this prestigious post, and he now accepts those responsibilities.

Dr. Weather has an extensive academic history, including earning degrees in pharmacy and medicine from Howard University and Rush Medical College. Both institutions are located in Chicago, Illinois. After completing his internship, residency, and fellowship in gynecology and obstetrics at the illustrious Johns Hopkins University Hospital, he went on to further perfect his specialty via extensive training.
Dr. Weather is a multitalented man who, in addition to his achievements in the field of medicine, serves as an educator in the field of health, a professor, an ordained pastor, an artist, an author, and a photographer. His creative works include three collections of motivational poems, a guidebook on infertility, and his most recent book, Endometriosis: The Name of the Pain and How to Repress It, published in June 2023.

Dr. Weather specializes in the pelviscopic surgical treatment of infertility, endometriosis, pelvic pain, and uterine fibroids. As an active gynecological clinical trials researcher, he has delivered more than 210 articles and presentations that his peers have evaluated. He is credited with creating the innovative surgical process called Optical Dissection Pelviscopy. This is a ground-breaking breakthrough in laparoscopic surgery that helps prevent organ harm. In addition, he is credited with inventing the revolutionary surgical treatment known as Optical Dissection Pelviscopy.

As a past president of the National Medical Association, the Louisiana Medical Association, and the New Orleans Medical Association, Dr. Weather’s influence may be felt well beyond the APCR. He also served in the same capacity for the New Orleans Medical Association. He now serves as the National President of Chi Delta Mu Medical Fraternity and as a board member on the State of Louisiana Board of Medical Examiners. In addition, he is a member of the Chi Delta Mu Medical Fraternity.

The Advancement of Clinical Practice, Academic Research, and Pharmaceutical Industry Engagement in Clinical Research (Clinical Trials) is the mission of the Association for Practice and Research in Clinical Medicine (APCR), a non-profit membership organization. Its purpose involves the prevention and cure of illnesses, as well as the protection of patients’ and research subjects’ welfare, and it does this by acquiring, disseminating, and evaluating knowledge about the creation of medicines and medical devices.

The APCR is an essential forum for furthering the education, professional development, qualification, and certification of medical practitioners participating in clinical research initiatives. It is the only body within the American Medical Association (AMA) representing the physician research community. As a result, it can influence national legislation on various topics relating to clinical research.

When it comes to his position as President of the APCR, Dr. Weather brings a lot of knowledge, passion, and vision with him. His historic election is a monument to his significant contributions to the profession of medicine and his dedication to the advancement of clinical research.

November 16, 2023 0 comment

BUSINESS

Group of Black Farmers Secure $1.25M in Funding to Acquire Land in California

by Ava Robinson November 16, 2023

written by Ava Robinson

Ujamaa Farmer Collective has recently successfully secured 1.25 million dollars in assistance from the state of California to assist black farmers in acquiring the land they require to expand their enterprises. Providing this cash is essential in redressing the historical inequalities in land ownership that black farmers have experienced.

Nelson Hawkins, Nathaniel Brown, and Keith Hudson are black farmers who founded the non-profit organization Ujamaa Farmer Collective to assert cooperative land ownership and support historically underserved farmers.
People of color who are farmers now own less than 2% of all farmland in the United States. Even yet, a farm in West Sacramento known as We Grow Farms, which provides inhabitants of the surrounding area with much-required vegetables, is now contending with the possibility that their leased land would be used to construct homes.

The Ujamaa Farmer Collective intends to use the $1.25 million in money allotted to them by the California legislative body in 2022 to purchase property in Yolo County, California, to solve the problem. The land will be subdivided into smaller parcels ranging from one half-acre to five total acres each. This enables several farms to function independently while simultaneously pooling their resources.

Ujamaa, which translates to “extended family” in Swahili, is an economic model that emphasizes cooperation and welcomes all participants. Hawkins said in an interview with Because of Them, We May that their objective is to “elevate everybody’s potential so [we] can all thrive.”

Ujamaa’s leadership comprises black farmers who have been disadvantaged in their ability to acquire land ownership throughout history. This sets it apart from other agricultural cooperatives. This effort seeks to re-distribute opportunities to African-American farmers, highlight the voices of African-American farmers, and establish a more resilient community.

November 16, 2023 0 comment

10-Year-Old Black Girl Breaks World Record, Writes Longest Novel With 58,000 Words

by Ava Robinson November 14, 2023

written by Ava Robinson

Meet Hephzibah Akinwale, a little black girl from the United Kingdom who, at the age of ten, has recently broken the world record for the length of a children’s fiction novel written entirely in the first person. The staggering number of 58,000 words may be found in her book, which is titled Chronicles of the Time Keepers: Whisked Away.

According to Shine My Crown, the main character of this middle-grade fiction adventure tale is a little girl named Hephzibah. In this book, Hephzibah is immersed in intriguing dreams that feel as real as her existence.

Manikya Sanghi, who was 11 years old at the time and wrote the prize-winning novel Wizard of Sansanadia, held the record before Hephzibah, a student at Little Thetford C of E Primary School in East Cambridgeshire, England, broke it with 44,000 words. Hephzibah’s novel had 46,000 words.

Nevertheless, Hephzibah is doing more than just shattering records. Her mother, Chika, has a strong belief that other children all across the world will be inspired to be creative as a result of her accomplishments.

In addition, the East Cambridgeshire District Council recognized her as one of the best 20 young people in the area to assist in celebrating King Charles III’s coronation. Her abilities have gained her this recognition.

November 14, 2023 0 comment

STARTUPS

Shekel Mobility, a B2B marketplace for auto dealers in Africa, raises $7M led by Ventures Platform and MaC VC.

by Alex Turner November 14, 2023

written by Alex Turner

According to the World Economic Forum, the yearly demand for automobiles in Africa is around 2.4 million, while the demand for commercial vehicles is approximately 300,000.

This demand is growing due to a rise throughout the continent in the amount of discretionary money available, a robust expansion of the middle class, and rising urbanization. Even though most vehicles satisfying this demand are pre-owned, the rate of automobile ownership in Africa is significantly lower than the worldwide average of 203 cars per 1,000 people.

In the past, we have covered new businesses in the automobile sector, shining a spotlight on essential players such as Autochek and Moove. Both companies address ownership by catering to customers and drivers, respectively. However, financing a car extends beyond the purview of customers and drivers; there is a significant possibility of offering services suited for dealerships. Small auto dealers rely heavily on vehicle finance since it facilitates their day-to-day business activities and helps them maintain lower operating expenses.

When interest rates on loans and credit cards are reasonable, consumers gain, which leads to an increase in the number of automobiles on the roads in Africa. This underscores the necessity for vehicle dealers to have access to inexpensive finance and business solutions.

In this strategic market, Shekel Mobility is a company that receives support from YC. The B2B auto dealer marketplace has raised over $7 million in investment, with over $4 million raised in loans and $3.2 million raised in equity. In an interview with TechCrunch, the company’s co-founder, Benjamen Oladokun, stated that the money would be necessary to quadruple the company’s current ARR, which is a little over $2 million, and that the company will leverage this momentum as it prepares for its next pricing round. The startup company announced in January of this year that it had received a pre-seed investment of $1.95 million, with participation from Y Combinator, Voltron Capital, and Zedcrest.

These investors participated in the subsequent seed round for Shekel Mobility. This time around, MaC Venture Capital and Ventures Platform took equal leadership roles in the seed round.

Y Combinator, Rebel Fund, Unpopular Ventures, Maiora Capital, PageOne Lab Inc., Phoenix Investment Club, Heirloom VC, Pioneer Ventures, and other angel investors are also among the company’s investors. During this time, Zedvance, VFD Microfinance Bank, Zenith Bank, and Fluna, amongst others, provided the debt component. According to Shekel Mobility, several financial institutions have leveraged the startup’s platform to fund automobile dealerships.

Together with Sanmi Olukanmi, Oladokun established Shekel Mobility. Shekel Mobility was founded on their combined expertise in the automotive business, which included the founding and subsequent sale of Eazypapers Technologies. Eazypapers Technologies was a digital vehicle documentation platform that catered to the FMCG, mobility, and logistics industries.

This so-called mobility fintech assists auto sellers in the African used car industry, estimated to be worth $30 billion, in finding, financing, and selling vehicles. Shekel Mobility seeks to establish itself as the leading platform to create and expand a vehicle dealership, locally or digitally, by 2025. More specifically, the company hopes to build the most significant auto dealership ecosystem possible, with yearly transactions totaling $10 billion by that year. Today, the auto dealer marketplace has been responsible for over $56 million in transactions. This has helped over 1,400 auto dealers expand their businesses by increasing the number of automobiles in their inventory and their sales across 7,000 vehicles.

Shekel Credit, the company’s main product, is the driving force behind the company’s expansion. This product gives car dealers instant access to finance, with credit limits that may go as high as $200,000 for purchasing a vehicle but more commonly range from $5,000 to $20,000. Shekel Credit is the company’s namesake. The financing system calls for the dealer to contribute thirty percent of the overall cost, which would equate to three thousand dollars in the example of a ten thousand dollar automobile purchase. Shekel lends the remaining 70 percent to the dealer as a loan. Subsequently, upon the sale of the vehicle to the end customer, which typically occurs within three months, the auto dealer sends money to Shekel to cover the interest on the loan and the transaction costs involved with the sale of the automobile.

Oladokun mentioned on the call that Shekel Mobility’s approach, which controls the whole process of purchasing and selling automobiles through dealerships, assures that it will record a 0% default rate. This model involves Shekel Mobility controlling the entire process. In a statement, Olukanmi further underlined that although there is a significant gap in directly giving financing to car dealers, Shekel Mobility only funds auto retailers that it “believes will have a lasting positive impact on consumers.”

Shekel Mobility is planning to expand its product offerings, one of which will be called Shekel Business. The company’s credit product has driven its success over the previous 20 months, and this expansion will build on that success. According to the company’s creators, this application will attempt to automate the informal trade activities inside the auto dealership sector. The suite of tools is intended to assist dealers not just in financing their inventory but also in expediting sales and structuring operations. This is in addition to helping dealers in the traditional sense of funding their stocks. “One of the fundamental things we’ve built is the ability to buy a car without collateral,” said Oladokun. “We got our start by making loans to dealers, but now we’re looking to cut the cost of owning car dealerships by providing additional digital tools and physical infrastructure.”

Kola Aina, founding partner at Ventures Platform, pointed out that Shekel is developing a significant market-creating invention that is key to increasing Nigeria’s automotive sector and will soon be essential to extending Africa’s automotive industry. Shekel Mobility can alter and spark the automotive sector in Africa, according to Marlon Nichols, founder and managing partner at MaC Venture Capital, who was commenting on the round. Shekel Mobility funds and empowers small enterprises that require funding to survive; thus, Nichols believes it can do both things. According to what he mentioned, “the team is enabling millions of dollars to move through the economy of Nigeria while at the same time providing locals with affordable automobiles.”

November 14, 2023 0 comment

Startup Successes STARTUPS

Giskard’s open-source framework evaluates AI models before they’re pushed into production.

by Alex Turner November 14, 2023

written by Alex Turner

The French firm Giskard is developing an open-source testing framework for huge language models. The company is based in Paris. It can warn developers about potential biases, security flaws, and the possibility of a model creating harmful or poisonous information.

Even though there is a lot of excitement around AI models, machine learning testing systems are soon becoming an essential topic of discussion. This is because regulation is set to be implemented in the EU with the AI Act and in other nations. To avoid paying substantial fines, businesses that build AI models must provide evidence that they comply with laws and take measures to limit risks.

Giskard is an artificial intelligence (AI) firm that supports regulation. It is also one of the first instances of a developer tool that focuses primarily on testing in a more time-efficient way.

“Before, I was employed at Dataiku, where I mostly worked on NLP model integration. “When I was in charge of testing, I noticed that there were both things that didn’t work well when you wanted to apply them to practical cases, and it was tough to compare the performance of suppliers to one another,” Giskard co-founder and CEO Alex Combessie told me. “And I could see that when I was in charge of testing, there were both things that didn’t work well when you wanted to apply them to practical cases.”

Giskard’s testing framework is made up of three different parts, all working together. The organization has disseminated an open-source Python library suitable for incorporation into an LLM project and, more significantly, retrieval-augmented generation (RAG) initiatives. Already fairly popular on GitHub, it is also interoperable with various tools within machine learning ecosystems, like Hugging Face, MLFlow, Weights & Biases, PyTorch, Tensorflow, and Langchain.

Once the first configuration is complete, Giskard will assist you in generating a test suite that will be routinely applied to your model. These examinations cover various topics, including performance, hallucinations, false information, output not based on facts, biases, data leakage, hazardous content development, and quick injections.

“And there are several facets: you’ll have the performance facet, which will be the first thing on the mind of a data scientist. Combessie remarked, “But more and more, you have the ethical aspect to consider, both from a brand image point of view and now from a regulatory point of view.”

The developers may incorporate the tests into the continuous integration and delivery (CI/CD) pipeline. This will ensure the tests are executed each time a new codebase iteration is created. For example, developers will receive a scan report on their GitHub repository if something is incorrect.

The tests are tailored to the model’s final use case to ensure accuracy. Companies working on RAG can access vector databases and knowledge repositories to make it as relevant as is humanly practical. For instance, if you are developing a chatbot that can provide you with information on climate change based on the most recent report from the IPCC and utilizing an LLM from OpenAI, Giskard tests will verify whether the model may produce disinformation about climate change, contradict itself, and address other similar issues.

Giskard’s second offering is an artificial intelligence quality center that assists with debugging and comparing big language models to other models. The premium package that Giskard offers includes this high-caliber hub. The young company has high aspirations that it will one day be able to produce paperwork demonstrating that a model is operating according to the applicable regulations.

“We are beginning to sell the AI Quality Hub to businesses such as the Banque de France and L’Oréal to assist these organizations in debugging and locating the sources of problems. Combessie stated that this will be the location of all of the regulatory features in the not-too-distant future.

The third product that the corporation offers is known as LLMon. Before the response is transmitted back to the user, this real-time monitoring tool may assess LLM replies for the most typical concerns (toxicity, hallucinations, fact-checking, etc.).

It now collaborates with businesses that have chosen OpenAI’s APIs and LLMs as the core paradigm for their operations; however, the firm is working on integrations with Hugging Face, Anthropic, and other similar organizations.

There are some different approaches to regulating AI models. Based on talks with people working within the AI ecosystem, it is currently unclear whether the AI Act will apply to fundamental models developed by OpenAI, Anthropic, Mistral, and others or apply to applied use cases.

In the second case, Giskard seems to be in an excellent position to tell developers about the wrong ways to use LLMs that have been improved with outside data, which AI researchers call retrieval-augmented generation (RAG).

Giskard is now employing a total of 20 individuals in its operation. “We see an obvious market fit with customers on LLMs, so we’re going to roughly double the team size to be the best LLM antivirus on the market,” Combessie said. “We see an obvious market fit with customers on LLMs.”

November 14, 2023 0 comment

PHOTO: Dr. Uzo Ihenko and Kelechi Chillis-Ihenko

Entrepreneurial Mindset YOUNG ENTREPRENEURS

Father and Son Make History, Open First Black-Owned UPS Store in Buffalo, New York

by Ava Robinson November 13, 2023

written by Ava Robinson

Meet Dr. Uzo Ihenko and Kelechi Chillis-Ihenko, a father-son team who have created history by building the first black-owned UPS store in Western New York in Buffalo. The business is located in the state of New York. The two individuals who had a solid commitment to serving their local community were the ones who brought a valuable resource to the region.

Kelechi witnessed the absence of necessary services in his neighborhood when he was growing up in Buffalo, and now he is happy to be able to fulfill that need. After completing his Master of Business Administration degree, he and his father co-founded a shipping and delivery business in Buffalo. Dr. Uzo, his father, thinks that the success of their family company is blazing a trail for other people.
“People are seeing the future in their lives, and other businesses will copy, and then other jobs will come,” Dr. Uzo explained to WKBW.

This UPS facility provides fingerprinting, shipping, delivery, and printing services. This makes it an ideal choice for customers who want background checks because it saves them time.

Even more services are available at this UPS location. Dr. Uzo adds that they intend to convert the rear portion of the building into reasonably priced apartments and office space, which will provide the neighborhood with more opportunities to develop and prosper. They credit their success to adopting a strategy that prioritizes the needs of the individuals they serve.

“If you’re not people first, the people aren’t going to support you,” according to Kelechi. “So you want to have anything you do be people-focused, so that will help you be successful in business.”

In addition to this, they are dedicated to remaining in Buffalo for the next generation, serving as a link between the local community and local companies. Dr. Uzo stated, “I informed them that we are not going anywhere. We are a part of you, and we are present in this place. Therefore, keep in mind that it is not only for them. It is also for persons living in the downtown area.”

November 13, 2023 0 comment

Leadership and Management

Largest Black-Owned and Operated Law Firm in New Jersey Expands, Adds Offices in Two More States

by Lucas Johnson November 13, 2023

written by Lucas Johnson

The law practice, SSW Law Group (SSW), which has its headquarters in Newark, New Jersey, has recently established two other offices in New York and Pennsylvania. As a result of this expansion, the law practice has become a nationwide one and has grown to encompass approximately forty staff members. Legal practice today provides substantial knowledge in various areas, including education, litigation, real estate and economic development, and government affairs.

Calvin Souder, co-founder of SSW and managing law firm member, thinks that the legal representation of urban areas across the country should directly reflect the communities’ identities and beliefs. With this development, we are establishing an institution ideally positioned to fulfill the comprehensive requirements of our community members located in cities across the country.

Calvin Souder, Khalifah Shabazz, and Kyana Woolridge established SSW in 2015, which improved their capacity to respond to competitive contracts. The establishment of their legal practice gave them the profound skills necessary to meet the demanding requirements of the urban areas of New Jersey. As a result of this growth, SSW Law Group will now have offices in Newark, Manhattan, and Philadelphia, allowing them to more effectively meet the requirements of their customers located around the country.

“The founding of SSW was never simply about practicing law; it was always about leaving a legacy of inclusiveness and quality in the legal sector. According to Kyana Woolridge, Esq., SSW Co-founder, “We are excited to embark on this new chapter and to reinforce our commitment to making a difference through dedicated and culturally competent legal representation.”

Khalifa Shabazz, Esq., SSW Co-Founder, said, “With our geographical growth, we are strengthening our ability to advocate for educational and economic empowerment on a larger scale.”

As a nationwide business, SSW will broaden its emphasis across the following sectors, all of which it has previously represented with great success:

• Real Estate: Founding Member Calvin Souder has advised HBCU Presidents on how to extend the use of public-private partnerships and has successfully represented large-scale mixed-use, municipal, commercial, and industrial developments. He is also a founding member of the firm.

• Government Affairs: Member James Gee and Member Jay Redd represent many pharmaceutical and biotech firms around the country and the New Jersey Urban Mayors Association.

• Education/Nonprofit: Founding member Khalifah Shabazz assists mostl systems in New Jersey, including the Patterson Board of Education and the establishment of Hinchliffe Stadium. He was also involved in the creation of the organization.

• During the litigation, Member Philip Hamilton and Member Lance Clarke effectively negotiated a settlement on behalf of the estate of Eric Garner.

• Health and Cannabis: Jorge Vasquez, a member of the organization, successfully secured preferential privileges for formerly jailed people to run cannabis businesses.

“SSW attorneys exemplify that there is no limit to the heights that can be reached when talent meets opportunities,” remarked James Lewis, Esq., President of the Garden State Bar Association. “For so many of us, seeing is believing, and SSW opens its doors to Garden State Bar Association members, including future attorneys from diverse backgrounds, so that they can see that there’s room for them at the highest levels of the profession.”

According to research by the American Bar Association, 40,800 attorneys are working in New Jersey, but only 1,836 are black. Over a quarter of those lawyers work independently, and there is, on average, fewer than one black attorney working in each of the 10,482 legal firms in the state.

According to the Small Business Administration, more than eight out of ten small enterprises do not have any workers. There are 33.2 million small enterprises in the United States. Of those, 27.1 million are sole proprietorships with no employees. Only 16% of all small enterprises in the United States have between one and nineteen employees.

Calvin Souder, Khalifah Shabazz, and Kyana Woolridge are the founders of the SSW Law Group, which began operations in 2015. The urban legal practice in New Jersey is growing at the highest rate, and it currently represents practically every metropolitan area in the state.

It is a Black-owned and women-owned law practice with substantial legal competence in Real Estate and Economic Development, Education, Government Affairs, and Litigation. The business’s headquarters are located in Newark and has offices in Philadelphia and Manhattan.

November 13, 2023 0 comment

YOUNG ENTREPRENEURS

HBCU Grad, Creator of First Black 18-Inch Superhero Doll Celebrates Having Sold 1,000’s of Units

by Ava Robinson November 13, 2023

written by Ava Robinson

Shaneisha Dodson, the founder and CEO of the Brilliant Girl and a proud graduate of Grambling State University, is celebrating the fact that hundreds of her dolls have been sold to young black girls nationwide.

She claims that she started her own business to provide more opportunities for representation in the toy and doll industry. “Growing up in Arkansas, there were not a lot of black dolls on the store shelves,” according to her.

This prompted her to design the Sugamama doll, the first 18-inch black superhero doll ever. Since then, she has heard many tales from other women who experienced the same experience of not seeing themselves represented in the media when they were children.

Shaneisha claims that hearing experiences like this motivates her to keep developing items that encourage optimism since she is well aware of the influence a person’s sense of self-efficacy can have on their development. She gave away approximately one hundred dolls to youngsters in 2022.

Shaneisha, who has won many accolades for her playwriting and has a passion for writing, wanted to do something more than merely make dolls. Because of this, she has also written and published two novels under the pen name Sugamama, titled The Adventures of Sugamama and Sugamama Saves Christmas, to accompany her best-selling doll. In addition to this, she has introduced a new line of puzzles called Positive Image Puzzles. These puzzles are deliberately constructed and feature positive imagery related to topics such as parenthood, superheroes, and females enjoying fun.

As Brilliant Girl pursues her objective of providing more representation to the doll and toy business and giving back to the community, Shaneisha has extended an invitation to everyone to participate in a celebration of the power of diversity.

November 13, 2023 0 comment

YOUNG ENTREPRENEURS

Black Mom of 3, Makeup Artist For 30 Years, Launches Vegan-Friendly Cosmetics Brand

by Ava Robinson November 13, 2023

written by Ava Robinson

In addition to her roles as a radio personality, a television host, and a mother of three children, Lady Joi, who hails from North Charleston, South Carolina, is also the creator and chief executive officer of POJE Cosmetics, a line of cosmetics that is black-owned and vegan-friendly. She claims that the concept was conceived due to the experiences of women of color and that its evolution has allowed it to usher in a new era of beauty.

As a former makeup artist, Lady Joi has never hidden her passion for the beauty industry or her love of cosmetics. Because she has been on stage and exposed to harsh lights for more than 30 years, she has seen more than her fair share of subpar makeup and cosmetic products.

As a result, she launched POJE (pronounced Po-Jay) Cosmetics to expand the luxury cosmetics market far further than it had previously been able to go.
Lady Joi decided to reinvent cosmetics for women of color when she saw how frustrating it was for women of color, both on and off stage, to find products that would help them achieve a perfect appearance. Her mission is to assist women of color of all ages in rekindling their interest in high-end cosmetics while paying homage to iconic companies that have shaped the industry in the past.

Her visioner company provides ladies with a bright variety of high-end cosmetics, accessories, and brushes, providing them with all the tools and hues necessary to create looks that range from subtle to dramatic. Lady Joi started the firm, which has its headquarters in North Charleston, South Carolina, with an innovative line of beauty brushes. Since then, she has extended POJE’s product offerings based on her vision when she first started the company about 13 years ago.

Her company’s unwavering dedication to providing the highest possible quality is what sets it apart from similar products. In addition to obtaining several certificates and memberships, such as the Woman Minority Owned Certification, the Amazon Black Business Accelerator Certified, the Sunoco Cohort Certified, the Minority Business Enterprise Certified, and the National Minority Supplier Development Council Certification, the business also has the MBE Certification.

In addition to being a vegan-friendly, paraben-free, and BUNNY-APPROVED brand, POJE Cosmetics is committed to utilizing only the highest quality ingredients and materials. Obtaining these certifications will further increase the brand’s support for significant global causes (such as sustainability, among other things). The firm is the first to be established in several decades, focusing on providing cosmetics of the highest caliber to women of color. The mission of Lady Joi is to encourage individuals to “Let Us Help You Show the World Your Color!”

November 13, 2023 0 comment

STARTUPS

Former Atomico investor and Glovo founders team up to launch Yellow, a €30M pre-seed VC fund.

by Ava Robinson November 8, 2023

written by Ava Robinson

Yellow, a newly founded venture capital firm, recently opened a €30 million fund for pre-seed investments in Europe.

Oscar Pierre and Sacha Michaud, the creators of Glovo, and Adam Lasri, a former investor at the prestigious venture capital firm Atomico, founded Yellow. Its goal is to assist early-stage European entrepreneurs, particularly in France and southern Europe.

Although no industry restrictions exist on the fund’s reach, Yellow is keen to invest in B2C and B2B businesses with solid growth prospects. Instead of taking the lead in investment rounds, Yellow intends to aggressively work with other European venture capital firms, offering ticket sizes ranging from €200,000 to €500,000.

Yellow: Assisting pioneers in markets throughout Southern Europe

One of Yellow’s main goals is to support entrepreneurs growing their companies in France and other Southern European markets, such as Spain, Italy, and Portugal.

According to the VC, these areas have historically received little assistance from venture capital, which makes it difficult for companies to get the resources they require to succeed.

The venture capitalist seeks to close this gap by utilizing its knowledge, connections, and in-depth comprehension of regional markets.

In areas like talent support, navigating regulatory frameworks, and arranging introductions to larger organizations, the firm seeks to offer invaluable advice and help.

More than twelve unicorn founders of profitable European digital businesses and well-known family business owners in Southern Europe provided investment to Yellow.

Due to significant investor interest, Yellow was able to close 100% of the fund in a matter of weeks, despite the problematic global fundraising climate.

The venture capitalist has previously supported projects in Barcelona and Paris with two covert investments in the last month. With the addition of seasoned investor Victor Navarro, the new venture capital firm is active in Barcelona and Paris. Established in Barcelona, Victor has been covering Southern Europe for KFund, a fund established in Spain.

Another addition to the squad will come from a newcomer who will be arriving in Paris shortly.

Co-founder of Yellow Adam Lasri comments, “Working with both Sacha and Oscar is an absolute pleasure. We have been friends for a long time, and I have witnessed how involved and helpful they have been to the over thirty entrepreneurs they have backed in the previous few years. We have now teamed up to implement that pledge formally through Yellow. We are thrilled that investors have shown great interest in the fund since its launch.

Lasri continues, “We see Yellow well positioned to support founders from the region and those looking to expand there and help unlock the region’s full potential. With me based in France and Oscar and Sacha’s strong ties to not just Spain but across Italy and Portugal,

November 8, 2023 0 comment

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