include ventures

The 46-year-old poet-turned-financer Taj Eldridge is raising $250 million to support Black and brown entrepreneurs and investors.

The fund will be split in two buckets, $125 million will go toward direct investments in clean tech, healthcare tech, media and fintech, as well as follow-on investments for companies that its affiliated fund managers make investments in. The rest of the funds will support fund managers raising at least $5 million that are majority-owned by Black or Brown individuals with an environmental social governance focus.

"What we like to say is we like to see funds that impact how you work, how you live and how you thrive," Eldridge told Minnie Ingersoll on the LA Venture podcast.

Eldridge, senior director of investments for the Los Angeles Cleantech Incubator, said the idea for the new fund began in 2019 before last summer's racial reckoning when he had a conversation with a "high net-worth individual" about reducing the racial wealth gap.

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On this week's episode of the L.A. Venture podcast, Taj Eldridge talks about his newly-launched $250 million fund, Include Ventures aimed at Black and Brown founders and investors. The fund is part of VC Include, a platform that aims to accelerate investment into women, Black, Latinx, Indigenous and LGBTQ people.

"Some of the founders I talked to have said they don't want to get funding just because they're Black, said Taj. "And my thing is, well, I've seen the opposite side of it. I've seen not getting money because I'm Black. So, you know, right now, let's just move things forward."

Taj is passionate about reducing the wealth gap through Black and Brown ownership and continuing the work he does with Los Angeles Cleantech Incubator (LACI), where he's the senior director for investment.

"Don't invest in clean tech just because it is a moralistic issue or its future-proofing," he said. "As we've seen in what's happening in Texas now with the grid and everything else, It's a public health issue. It's an economic issue. It's a social issue."

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