Mendoza Ventures, a female and Latinx-led venture capital firm focused on FinTech, AI, and cybersecurity, has achieved a first close on its third fund, raising $100 million. The fund, which will invest in early growth-stage startups with diverse teams, was led by Bank of America, with participation from Grasshopper Bank and other investors. The fund aims to fill the early growth capital gap for diverse and female-led startups and breaks the $100 million glass ceiling for female and diverse GPs in venture capital. Bank of America's investment in Mendoza Ventures is part of their commitment to advancing racial equality and economic opportunity, with over $400 million allocated to mission-focused venture funds.
Reference: 1. https://ibsintelligence.com/ibsi-news/mendoza-ventures-announces-a-close-on-its-100m-early-growth-fintech-fund/