The Consumer Technology Association (CTA)®, owner and producer of CES®, announced today its investment in Collab Capital – it’s the sixth investment in CTA’s $10 million commitment to venture firms and funds that invest in women, people of color and other underrepresented entrepreneurs.
is a new capital investment firm focused on early-stage investments in tech and tech-enabled companies with Black founders. Led by Jewel Burks Solomon, Justin Dawkins and Barry Givens, the firm is focused on startups that provide innovative solutions for the future of learning, work and care. The firm announced the closing of its debut fund today.
“The need for innovation in education, workforce and health care has never been more important,” said Tiffany Moore, SVP, political and industry affairs, CTA. “The team at Collab are committed to helping Black founders build sustainable, tech-enabled businesses. This deeply resonates with CTA’s goal to drive growth of the tech industry by leveraging the best and diverse talent in our nation.”
CTA announced its $10 million funding commitment on stage at CES 2019
. As part of its commitment, CTA announced its first two investments
in July 2019, followed by two additional investments
in October 2020 and a recent investment
at CES 2021. To date, CTA has invested in Harlem Capital Partners
, SoGal Ventures
, Rethink Impact, Founders First Capital Partners
and Plum Alley
“Black founders represent the fastest growing entrepreneurial segment, but to this day, they remain the most under-funded and under-resourced group,” said Burks Solomon. “Collab Capital is excited to partner with CTA, which has helped us close our Fund I and provide Black business owners with the capital and resources they need to achieve their full potential. We believe this is an important step in narrowing the racial wealth disparity while driving sustained economic recovery across our country.”
In addition to the $10 million investment commitment, CTA is engaging diverse startup founders
at CES, helping build a diverse K-12 STEM
Pipeline, and has created a forum
for member companies to share best practices on creating greater access and mobility for underrepresented communities.