PayPal Invests Additional $50 Million Investment in Black and Latinx-Led Venture Capital Funds

Fazzaco learned that PayPal​ Holdings, Inc. announced that it is planning to support 11 Black and Latinx-Led venture capital funds with $50 Million.

In October 2020, the payment giant announced a $50 million investment in 8 Black and Latinx-Led venture capital funds.

According to the official announcement, the 11 funds include Aperture Venture Capital; Collab Capital; Interlace Ventures; Kapor Capital; MaC Venture Capital; Noemis Ventures; Seae Ventures; SV LATAM Capital; and three additional funds. 

PayPal will work collaboratively with these early-stage funds to provide resources, relationships and deep industry expertise, and, in some cases, invest directly in businesses alongside the funds through PayPal Ventures, its venture capital arm. PayPal Ventures invests in series A through later funding rounds of startups in areas of strategic relevance to PayPal, including financial services, commerce enablement and payments infrastructure.

Dan Schulman, president and CEO of Paypal, commented on the investment: “Venture capital funds led by Black and Latinx managers expand wealth creation opportunities for diverse founders. Over the long-term, the $100 million we are investing in 19 exceptional venture capital firms will help to foster a next generation of diverse founders that are building products and services that empower a more inclusive economy. These investments grow from our commitment to advance a more just and equitable society.”