ATLANTA – June 23, 2021 – Zane Venture Fund, an Atlanta-based fund that invests in early-stage technology companies with diverse founders, recently received an investment from Atlanta Emerging Markets, Inc. (AEMI) in partnership with Invest Atlanta. Founded in 2018, Zane Venture Fund works to eliminate racial wealth inequalities in the Southeast by bridging the gap from Seed to Series A and beyond with dollars, education and exposure.
The investment aligns with and advances AEMI’s mission to create equity and access to capital for entrepreneurs in Atlanta’s distressed neighborhoods. AEMI has a history of supporting underrepresented founders with over $1 million invested in companies launched by women or diverse entrepreneurs.
“The Zane team is addressing the critical challenges facing underserved entrepreneurs in Atlanta, including access to capital and critical resources for early-stage companies,” said Stephen McRae, President of Atlanta Emerging Markets, Inc. “This partnership with Zane reinforces our commitment to providing all entrepreneurs with the tools needed to grow and scale their businesses.”
Targeting the initial close of its first $25 million fund, Zane has invested in two companies to date, Inirv and ParrotMob. Inirv sells smart knobs that automate and personalize the cooking experience by bringing together safety and convenience in the kitchen. ParrotMob is evolving e-commerce with its all-in-one short message service (SMS) conversational commerce platform.
“We believe strongly in the Atlanta tech ecosystem and the amazing pipeline of diverse tech talent that exists right here,” said Shila Nieves Burney, Zane Venture Fund founder and General Partner. “To feel the support of the city behind us as we head towards our initial close is powerful. We’re ready to put this capital to work and move the needle for Southeast startups, especially here in Atlanta.”
In addition to traditional investments, Zane also provides programming to founders through Zane Access, an annual cohort program that includes capital readiness events, mentoring and networking to founders. With these initiatives, Zane ensures that entrepreneurs have not only the funding but also the fundamental knowledge and training to scale and succeed.
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Atlanta Emerging Markets, Inc. (AEMI)
AEMI is a U.S. Treasury-certified community development entity created by Invest Atlanta in 2005 that specializes in providing financing for projects that create jobs and revitalize Atlanta’s distressed neighborhoods.
Zane Venture Fund
Zane Venture Fund was created by Shila Nieves Burney to help diverse founders bridge the gap from Seed to Series A and beyond with dollars, education, and exposure. The fund targets innovative tech-enabled companies with diverse leadership teams. The objective is to generate high returns for investors and contribute to closing gender and race-based wealth gaps by investing in underrepresented founders.