LA Venture Podcast: Meet Austin Clements and His New Fund for Black Entrepreneurs

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.

On this week's episode of the L.A. Venture podcast meet Austin Clements, co-founder of Slauson & Co, a L.A.-based pre-seed and seed-stage venture firm focused on sustainable economic inclusion. The firm is backed by PayPal, Ashton Kutcher, will.i.am, True Capital Management and Alpaca VC. Previously, Clements was at TenOneTen Ventures. He was also the founding chair of Pledge L.A. and the managing director of Grid110 South L.A.


Clements has created his newest endeavor with Ajay Relañ, founder of #HastagLunchbag and co-founder of Hilltop Coffee + Kitchen. Relañ has previously partnered with Issa Rae, creator of HBO's hit show "Insecure" and the musician Nas.

Their fund aims to invest in founders from underrepresented backgrounds, tools and platforms that support small businesses and culturally relevant tech. As Black co-founders, it's important to Clements and Relañ to create community for underrepresented groups in the VC space, and they do so by leading investments on startups run by Black and Brown creators.

Hear Austin talk about how race impacts his business models, how his previous work has prepared him for this role, and how he hopes to make an impact on people of color trying to break into the venture industry.

"I feel like there's just some misconception. Like people feel like if you're doing this or looking at founders from underrepresented backgrounds, that it's charity work. And and I was trying to make the argument that it's not. It's an opportunity. And what I think will ultimately happen is firms like mine will produce really great results and then ultimately inspire other people to get involved."

Austin Clements is the co-founder of Slauson & Co, the founding chair of Pledge L.A. and was the managing director of Grid 110 South L.A.

dot.LA Engagement Intern Colleen Tufts contributed to this post.

Want to hear more of L.A. Venture? Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

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Activision Blizzard Employees Set to Walkout on Wednesday

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

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samblake@dot.la

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Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.

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