This program invests $250 million to support underrepresented venture capital managers and underserved entrepreneurs in California. It targets VC funds of at least $50 million and startups with lead investors, focusing on socio-economically disadvantaged areas and promoting climate equity and justice. Investments include $200 million to VC funds and the remainder directly to businesses.
Eligible applicants include venture capital fund managers targeting funds of at least $50 million and startups that have secured a lead investor in their current financing round. Debt financing does not qualify.
