We are proud to announce our participation in the Historic Fund, a new initiative supporting HBCUs in the United States. We have invited a number of HBCUs to be limited partners in venture capital funds without having to invest their own capital. Instead, the Historic Fund will use capital provided by the individual partners of the participating venture capital firms. We believe that the Historic Fund will broaden access to this asset class and improve the lives of students.
The Historic Fund will initially partner with the following institutions: Benedict College, Bennett College, Fisk University, Florida A&M University, Hampton University, Morehouse College, Virginia State University, Virginia Union University, and Xavier University of Louisiana. The schools will participate as traditional limited partners in a venture capital fund, and will be free to use the returns as they wish. We hope, and expect, that the number of partner institutions will increase over time.
We are pleased to be joined in this effort by our fellow participating venture capital firms Acrew Capital, B Capital, Cowboy Ventures, FirstMark Capital, First Close Partners, First Round Capital, Foundry, General Catalyst, and Spark Capital. If your firm would like to be involved, we encourage you to contact the executive director of the Historic Fund, Adanma Raymond (adanma@historicfund.org), for whose leadership we are grateful.