Bank of America Invests In Angeles Ventures, Boosting Latine Entrepreneurship

Angeles Ventures, a Latine and woman-led early-stage VC fund, has announced an equity investment from Bank of America.

This investment aims to accelerate Angeles Ventures’ mission to find, fund, and grow Latine ventures across the United States.

Addressing the Funding Gap for Latine Entrepreneurs

Even though Latine Americans make up over 20% of the U.S. population and are the most entrepreneurial group in the country, they receive less than 2% of venture capital funding. 

Angeles Ventures aims to change this by focusing on tech-enabled B2B and B2C startups at the seed stage. So far, Angeles Ventures Fund I has invested in four startups: Storybook, Linker Finance, Certiverse, and Sigo Seguros.

These investments have been part of oversubscribed rounds with well-known co-investors like Goodwater, Chingona, Launch (Jason Calacanis), Hyde Park Ventures, and Listen Ventures.

Led by General Partners Adela Cepeda and David Olivencia, Angeles Ventures uses a strong network of over 260 members and has made over 23 investments. 

Read: Angeles Investors Announces The Top Firms Investing In Hispanic Latinx Startups

Bank of America’s equity investment

The investment from Bank of America, which has committed more than $550 million to women- and minority-led funds as of December 2023, will further help Angeles Ventures support Latine founders.

“We’re delighted to bring on an institutional investor that is aligned to our mission,” Cepeda said in a press release. “The U.S. Hispanic and Latino community is greater than those of India or Brazil and represents a sleeping giant of economic might and alpha.” 

David Olivencia added, “We are honored to have one of the world’s largest banks as an LP. We will continue to raise capital to further support our mission that has a track record of driving outsized returns by investing in the fastest-growing demographic of the U.S.”

Image credit: Angeles Investors on X