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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.

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