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Alternative Assets  + VC  |  October 28, 2022
Amazon Invests $150M in VC Funds for Underrepresented Entrepreneurs
Joe Palmisano
By: Joe Palmisano

Amazon Invests $150M in VC Funds for Underrepresented Entrepreneurs

Amazon announced a new diversity-related initiative called Amazon Catalytic Capital that will provide funding to underrepresented entrepreneurs.

The $150 million program marks the first time Amazon is backing outside venture capital firms.

The funding will support more than 10 funds and over 200 startups over the next year. Amazon will provide access to executives and employees in addition to cash.

“We want to ensure that these companies and their founders have the same access to capital as anyone else,” Peter Krawiec, Amazon’s senior vice president of worldwide corporate development, said in a statement.

The program builds on Amazon’s other recent diversity initiatives including AWS Impact Accelerator, which backs startups led by underrepresented founders, and its $150 million Black Business Accelerator unveiled last year.

Some of the funds receiving money from Amazon include Collide Capital; Elevate Future Fund; Share Ventures; and Techstars Rising Stars Fund.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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