What it is: Founded in 2019, Chingona Ventures is a pre-seed fund that makes investments in founders in nontraditional backgrounds that position them to create businesses in markets that are growing and often overlooked.
Leadership: Founded by Samara Mejia Hernandez, previous early-stage investor with MATH Venture Partners and Goldman Sachs
Minimum investment: $250,000
Investment style/track record: The firm makes seed stage investments of $100,000 to $250,000 to pre-seed and seed stage companies that have typically raised under $1 million in outside funding. The fund seeks companies where the founders do not fit a traditional mold.
Since 2019, the fund has invested in 15 startups.
Chingona Ventures is one of the eight early-stage, Latinx and Black-led venture capital funds that will receive a portion of $50 million from PayPal Holdings (NASDAQ: PYPL) in an initiative that was announced in October.
Quote: “The Latino market is one of the most overlooked opportunities in the venture capital and startup community. Currently, very little money goes into fund managers – 0.5% of all VCs are Latinas who raised their own funds and that translates to less than 0.4% of all Latina CEOs who receive VC money,” said founder Samara Mejia Hernandez.
To find minority and women founders, LOUD Capital has worked with organizations including the Chicago Bulls. Left to Right: Dr....