Goldman Sachs’ Launch With GS Initiative Announces Investment in Collab Capital

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"Goldman Sachs’ Launch With GS Initiative Announces Investment in Collab Capital"

"NEW YORK, June 1, 2021 – Goldman Sachs’&nbsp;Launch With GS&nbsp;initiative today announced an investment in Collab Capital, an Atlanta-based investment fund.&nbsp;Launch With GS&nbsp;is Goldman Sachs’ $1 billion investment strategy grounded in our data-driven thesis that diverse teams drive strong returns.\r\nFounded in 2019, Collab Capital is an early-stage venture capital fund investing in Black founders. With backgrounds in venture capital, engineering, and entrepreneurship, Managing Partners Barry Givens, Jewel Burks and Justin Dawkins seek to address the lack of venture capital funding for Black founders, who currently receive last than 1% of venture capital funding while representing 14% of the US population. Today, Collab announced the closing on Fund I, which has made early investments six companies in the healthcare, edtech, and future of work spaces. Collab Capital seeks to optimize financial and social capital to help Black founders build profitable and sustainable businesses, investing in tech and tech-enabled companies working on innovative solutions in niche or growth markets.\r\n“Only 1% of U.S. venture capital goes toward Black and Latinx founders,” said Suzanne Gauron, head of&nbsp;Launch With GS. “We believe the team at Collab Capital is not only well positioned to understand the lack of diversity in venture capital, but also has the skillsets to address the issue head on by investing in exciting companies and founders.”\r\n“We are striving to build a foundation for the future of growing Black wealth through innovation and that requires an ample amount of human, social, and financial capital,” said Jewel Burks Solomon, managing partner, Collab Capital. Having partners like Goldman Sachs that are willing to provide support beyond their investment are instrumental to us reaching this goal.”\r\nIn March 2021, Goldman Sachs announced that it has committed an additional $500 million to investing in diverse businesses and funds through&nbsp;Launch With GS, doubling its original commitment for a total of $1 billion. Since the program’s inception in June 2018, the firm has deployed more than $450 million across companies and managers with diverse management teams.\r\nAbout&nbsp;Launch With GS \r\nLaunch With GS&nbsp;is Goldman Sachs’ investment strategy grounded in the belief that diverse teams drive strong returns. Through&nbsp;Launch With GS, Goldman Sachs aims to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs and investors.\r\nAbout The Goldman Sachs Group, Inc. \r\nThe Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.\r\n&nbsp;\r\n###\r\n&nbsp;\r\nMedia Contact: \r\nLeslie Shribman \r\nTel: +1 212-902-5400\r\n"

NEW YORK, June 1, 2021 – Goldman Sachs’&nbsp;Launch With GS&nbsp;initiative today announced an investment in Collab Capital, an Atlanta-based investment fund.&nbsp;Launch With GS&nbsp;is Goldman Sachs’ $1 billion investment strategy grounded in our data-driven thesis that diverse teams drive strong returns.
Founded in 2019, Collab Capital is an early-stage venture capital fund investing in Black founders. With backgrounds in venture capital, engineering, and entrepreneurship, Managing Partners Barry Givens, Jewel Burks and Justin Dawkins seek to address the lack of venture capital funding for Black founders, who currently receive last than 1% of venture capital funding while representing 14% of the US population. Today, Collab announced the closing on Fund I, which has made early investments six companies in the healthcare, edtech, and future of work spaces. Collab Capital seeks to optimize financial and social capital to help Black founders build profitable and sustainable businesses, investing in tech and tech-enabled companies working on innovative solutions in niche or growth markets.
“Only 1% of U.S. venture capital goes toward Black and Latinx founders,” said Suzanne Gauron, head of&nbsp;Launch With GS. “We believe the team at Collab Capital is not only well positioned to understand the lack of diversity in venture capital, but also has the skillsets to address the issue head on by investing in exciting companies and founders.”
“We are striving to build a foundation for the future of growing Black wealth through innovation and that requires an ample amount of human, social, and financial capital,” said Jewel Burks Solomon, managing partner, Collab Capital. Having partners like Goldman Sachs that are willing to provide support beyond their investment are instrumental to us reaching this goal.”
In March 2021, Goldman Sachs announced that it has committed an additional $500 million to investing in diverse businesses and funds through&nbsp;Launch With GS, doubling its original commitment for a total of $1 billion. Since the program’s inception in June 2018, the firm has deployed more than $450 million across companies and managers with diverse management teams.
About&nbsp;Launch With GS 
Launch With GS&nbsp;is Goldman Sachs’ investment strategy grounded in the belief that diverse teams drive strong returns. Through&nbsp;Launch With GS, Goldman Sachs aims to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs and investors.
About The Goldman Sachs Group, Inc. 
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
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###
&nbsp;
Media Contact: 
Leslie Shribman 
Tel: +1 212-902-5400

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