In 2020, we launched our first Google for Startups Black Founders Fund to help Black tech entrepreneurs overcome the disproportionate hurdles they face when raising capital. Within months of receiving Google’s funding, that first group of recipients went on to raise millions in subsequent follow-on funding, often crediting Google’s funding as a powerful driver of additional investment. Based on that success, we expanded the Founders Fund to Brazil, Europe and Africa, and last year we announced our first ever Latino Founders Fund in the U.S.
Since that initial fund in 2020, we’ve provided over $34 million in cash awards to 448 Black and Latino founders, who have gone on to raise over $400 million after our investment. Beyond the capital, recipients join a tight-knit community and get deep mentorship and training from Googlers.
Beginning today, we’re opening applications for another round of Black Founders Funds in Africa, Brazil, Europe, and the U.S., as well as for our Latino Founders Fund in the U.S. We can’t wait to welcome a new group of Black and Latino founders who are using technology to solve some of society’s biggest problems. If you or someone you know would be a great fit for the Google for Startups Founders Funds, encourage them to apply now.