MaC Venture Capital Eyes $200 Million For Its Second Fund

MaC Venture Capital, the Black-led seed-stage venture firm based in Los Angeles, intends to raise as much as $200 million for its second fund, according to an SEC filing published Monday.

The filing implies that Hollywood-based MaC has not yet closed on any capital for the new fund. The investment vehicle follows the firm’s $110 million inaugural fund, which it sealed last March.

From left to right: MaC Venture partners Marlon Nichols, Michael Palank, Charles D. King and Adrian Fenty. Courtesy of MaC Venture Capital

MaC formed in 2019 through a merger between two smaller VC firms, Cross Culture Ventures and M Ventures. The former was founded by investor Marlon Nichols, who previously helped launch corporate VC Intel Capital’s $125 million diversity fund, while the latter was co-created by former Washington D.C. Mayor Adrian Fenty and former William Morris Endeavor partner Charles D. King, who was the first African-American partner at a major Hollywood talent agency.

Their resources combined, MaC has quickly established itself as one of the more notable Black-owned venture capital firms in an industry dominated by white men. The firm has looked to promote racial diversity, equity and inclusion in the startup sectors, and has described its mission as backing founders who want to “solve problems for the 99%” and whose companies “expand access to opportunity” for minority communities.

MaC’s local investments include NFT-focused gaming startup Artie and spacecraft operations software firm Epsilon3. The firm has noted that it’s particularly bullish on gaming- and metaverse-focused ventures.

When reached by dot.LA, Nichols declined to comment on MaC’s plans for the new fund.