Report: Kevin Durant, Will Smith Backing Fund Aimed At Black Investors

Kevin Durant and Will Smith are reportedly backing a fund aimed at increasing the black community’s engagement in tech.

Silicon Valley venture capital firm Andreessen Horowitz launched a fund that will partner exclusively with black celebrities, athletes and media personnel’s, according to the Wall Street Journal.

The $15 million fund is part of a bigger movement that strives to diversify the tech world’s demographics.

Celebrities like Durant have been a part of this diversification effort through investments and innovation. ESPN reported that Durant’s investment company “claims early-stage investments from $250,000 to $1 million in roughly 30 companies through a network of venture capitalists, including online digital-currency platform Coinbase, spare-change app Acorns, cloud-computing startup Rubrik, drink company WTRMLN WTR, fast-casual pizza chain Pieology, bike-sharing company LimeBike and delivery company Postmates.”

Hopefully, this effort within Silicon Valley will begin to make waves soon enough.

Erin Ashey Simon is a writer, producer, host and contributor for The Shadow League. Host of Cheddar Esports and Grass Routes Podcast, a former college athlete who passes the time playing flag football. Simon has previous work experience at Cycle Media, REVOLT TV, The Wall Street Journal, and more. Originally from New Jersey, Simon graduated from the University of Kentucky.