The vehicle is dedicated to backing ventures led by BIPOC (Black, Indigenous and People of Color), the LGBTQ+ community, and people with disabilities.
The fund, which is closing $20M from SecondMuse Capital with another close in August, will invest in ventures in five sectors:
- artificial intelligence (AI),
- consumer packaged goods (CPG),
- e-commerce, and
All ventures will be based or have a presence in the middle of America, which includes any location outside of the three most overserved regions in the United States: Silicon Valley, New York City, and Boston.
The fund will be run by Lightship Capital General Partners Candice Matthews Brackeen and Brian Brackeen. Lightship Capital is a venture capital fund enabling underrepresented entrepreneurs and overlooked ecosystems across the US with access to guidance and capital. SecondMuse Capital is the financial management arm of SecondMuse, investing in businesses and real estate that help create new economies that are growing, resilient, and inclusive. SecondMuse is an impact and innovation company whose programs define inspiring visions, build lasting businesses, and unite people across the globe. Over the last decade, they’ve designed and implemented programs with 600+ organizations such as NASA, The World Bank, and Nike.