Black-Owned VC Firm BRK Capital Secures $14.5M to Invest in Diverse Entrepreneurs

BRK Capital, a venture capital firm committed to investing in Black and diverse entrepreneurs, has announced the closing of $20 million Canadian dollars towards its $50 million fundraising target for Fund II. This latest round of funding, which brings the total raised so far to $14.5 million, highlights the growing investor interest in supporting underrepresented founders in the startup ecosystem.

Founded in 2020 by Tiffany Luck and Tachyus Fryar, BRK Capital is on a mission to bridge the wealth gap and empower Black and minority entrepreneurs. The firm's Fund II will continue to focus on early-stage technology startups led by founders from underrepresented backgrounds, providing them with not just financial capital, but also hands-on mentorship and strategic guidance to help them scale their businesses.

"We're thrilled to have reached this milestone with our Fund II raise," said Tiffany Luck, co-founder and managing partner of BRK Capital. "This funding will allow us to double down on our mission of investing in diverse founders and driving meaningful change in the venture capital industry."

The $20 million in new commitments comes from a mix of institutional investors, family offices, and high-net-worth individuals, reflecting the growing appetite for impact investing and diversity-focused funds. BRK Capital's Fund I, which launched in 2020, has already backed several promising Black-led startups, including Wonsulting, a career-focused platform, and Hairbrella, a fashion-forward rain hat brand.

"As we continue to build out our portfolio, we're excited to partner with founders who are not only building innovative solutions, but also driving social impact and representation in their respective industries," said Tachyus Fryar, co-founder and managing partner of BRK Capital.

The $50 million target for Fund II represents a significant increase from the firm's inaugural $25 million fund, reflecting the growing demand for diversity-focused venture capital and the team's track record of identifying and supporting high-potential Black and minority-led startups.

With this latest funding, BRK Capital is well-positioned to continue its mission of empowering underrepresented entrepreneurs and driving inclusive innovation in the tech industry.