Fuze Fund Opens $30M VC Fund to Lower Ranked Entrepreneurs

Fuze Fund, a Black-owned enterprise capital firm, has launched a $30 million fund called Fuze Venture Growth Fund I, LP, in hopes capital gap amongst starting entrepreneurs– according to the press release.

The platform is designed to provide capital, strategic support and resources to support minority, veteran and women-led startups, subject to approval by the U.S. Securities and Exchange Commission. Early on in its subscription journey, the corporate opened the door for accredited investors to come on board not only with a financial contribution, but in addition to join a growing system that gives founders with mentorship in hopes of achieving long-term success.

“At Fuze Fund, we are guided by the belief that innovation knows no boundaries. However, we have seen that too many talented founders from underrepresented communities have been sidelined due to a lack of access to funding,” said Fuze Fund founder and managing partner Dr. TJ Breeden. “Our goal is simple: ignite potential. We don’t just support start-ups – we invest in people, communities and the next generation of breakthrough ideas.”

Breeden served as leader of Emerging Entrepreneurs, Inc., a nonprofit organization providing entry-level training in underrepresented communities with veteran and minority populations.

“When I led Emerging Entrepreneurs, Inc., I saw firsthand how difficult it was for underrepresented founders to access the funding and support they needed to succeed,” Breeden explained of his time at Syracuse University. “Even though several years passed and I continued my doctoral studies at the University of Illinois Urbana-Champaign, the hope of launching the fund never left me. Less than four months after defending my doctoral dissertation, Fuze Fund and its flagship venture capital fund were established in the fall of 2021 and in the middle of the pandemic.”

Research shows that minority founders received just 1.1% of enterprise capital funding in 2022. It’s a percentage dropped to just 1% in 2023.

For the founder, providing capital is simply step one, because the whole ecosystem needs to be transformed. “Our goal is to create a comprehensive ecosystem where diverse founders receive the guidance, resources and partnerships they need to confidently navigate and scale growth,” Breeden said.

Currently a part of the “American Speakers Program” sponsored by the U.S. Department of State’s Office of Educational and Cultural Affairs, Breeden hopes to expand his program to U.S. embassies and consulates all over the world. The goal could be to collaborate with leaders, officials and experts in the sector in hopes of beginning a conversation on issues affecting business owners.