Collab Capital, the venture firm co-founded by Jewel Burks Solomon, has announced the close of its second fund at $75 million.
Backed by major LPs including Apple, Goldman Sachs Asset Management, and the Leon Levine Foundation, the fund aims to support early-stage startups driving change in critical industries.
Building on Fund I’s momentum
The firm’s inaugural $50 million fund invested in 38 companies such as waste management platform Goodr and health startup Culina Health. Fund II will maintain that early-stage focus—primarily at the seed and Series A stages—by writing checks of $1–2 million to at least 30 startups over the next five years. Around 40% of the capital has been earmarked for follow-on investments.
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Backing founders solving systemic problems
“This fund allows us to double down on supporting founders who are solving some of the biggest challenges we face,” said Solomon. “We’re showing that shared prosperity is not just idealistic—it’s scalable and competitive.”
Fundraising amid headwinds
Solomon noted that raising Fund II was “incredibly hard,” taking nearly two years due to economic uncertainty and shifting LP priorities. “We remained committed and found partners who believe in both the urgency and opportunity of our work,” she added.
A broader trend among Black-led funds
Collab Capital’s raise is part of a wider wave of significant fund announcements from Black-led firms. Recent examples include Zeal Capital Partners’ $82 million Fund II, Cherryrock Capital’s $172 million Fund I, and Slauson & Co.’s $100 million second fund.
