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

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,, 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.

Subscribe to our newsletter to catch every headline.

Downtown Los Angeles-based Moving Analytics, which uses telehealth tools to lower the barriers to entry for the 6 million Americans suffering from heart disease, announced it has raised $6 million in seed funding Monday.

The eight-year-old company has nabbed customers like Highmark Health, Kaiser Permanente and the Department of Veterans Affairs.

Read more Show less

Hollywood is on notice: Gen Z would rather scroll through social media, play video games and stream music than watch TV or catch a film.

Read more Show less

With more than 200 million subscribers and intense competition from the likes of Disney and HBO Max, can Netflix keep its big lead in the streaming wars?

Financially, Netflix has never been better off. It has forecast its cash flow to break even in 2021. If it does, that would eliminate, for the first time, the company's need to raise external financing for its day-to-day operations.

Read more Show less