When Mandela SchumacherHodge Dixon founded it, Interesting to read about, thanks for the info! This firm, with Shank as president and CEO, now employs some of the most experienced talent in the world of municipal underwriting and has become a titan of the industry. PS27 Ventures is a black-owned venture capital form based in Jacksonville, Florida. It was selected by PBS for its "POV" series. McKinsey released a studysaying the film and TV industry could reap an additional $10 billion in annual revenuesthats a 7% increaseby addressing racial inequality. Those who specialize in independent film are aware of . Founder of Cineshares, a platform that exhibits films for crowdfunding, and founding partner and managing director at impact-focused VC firm DiverseCity Ventures. The U.S. film and television industry doesnt even acknowledge this staggering fact! RALEIGH - With less than 1 percent of venture capital going to African American entrepreneurs, a growing number of Black angel investors are stepping up to close the existing funding gap . The book is a must-read for anyone interested in the inspiring, difficult, and largely forgotten history of Black investors and entrepreneurs in the U.S. Suzanne Shank has almost singlehandedly revolutionized the world of municipal bond underwriting. Directors such as Spike Lee, Ava DuVernay, Jordan Peele and Ryan Coogler are household names, creating works of art and commercially successful projects. Dee Rees speaks onstage during the 2020 Sundance Film Festival Awards Night Ceremony at Basin Recreation Field House on February 01, 2020 in Park City, Utah. If diversity is going to occur, film investors are going to have to play a more hands-on role with the goal of achieving greater diversity. He produced the Creed sequels, Judas and the . In the mid-'80s Spike Lee emerged in the film industry with "She's Gotta Have It," a film about the love life of a contemporary Black woman. It wasn't until the mid-90s that he made his feature film debut. He chose these banks specifically for their ethical approach to lending and incorporated them fully into the management structure. Content is King as the saying goes, but this has not translated to the Black community. Doug Graham has directed investment strategy. View of director John Singleton, wearing sunglasses and beret, while on the set of his movie 'Poetic Justice', Los Angeles, CA, 1993. DuVernay also founded a film collective called Array in 2010. in funding tech companies founded by Black and Latinx women. Wells. The founders in this section are creating goods and services to support peoples self-care journeysfrom on-demand haircuts to vegan makeup. Ava DuVernay first made a name for herself in Hollywood with her 2012 film "Middle of Nowhere." In 2006, Nina Collins began to go through her mother's archive and have it published, restored and reissued. What projects are you involved in right now, especially in the film and TV world? Browse our list of recent films by black filmmakers. He died in 1951 but has posthumously been inducted into the Black Filmmakers Hall of Fame and awarded the Golden Jubilee Special Directorial Award from the Directors Guild of America. Startups in this spaceof which PitchBook tracks 20,000+often have crossover into sectors like cloud computing, internet services, and social mobility to optimize patient-center healthcare. Investment can drive change. Film title. He has released a movie almost every year since 1986. From alt-proteins and insect-based foods to sustainable food production, the founders highlighted in this section are developing products and services that impact what we cultivate, harvest, buy, and eat. Jenkins became the fourth Black person nominated for best director and the second to win a best picture Oscar. He was born in New York City in 1969 into very modest circumstances and struggled with dyslexia. Canada's Bron Studios has emerged as the 800-pound gorilla on the indie finance scene. Perry operates one of three major studios in Georgia, where he films his movie and television projects and rents out space to other filmmakers. ", circa 1972. Goings was also chair of the Studio Museum in Harlem, where he first met Bearden. For additional insights on topics related to foodtech, check out PitchBooks Q3 2022 Emerging Tech Research: Foodtech report covering VC trends and emerging opportunities in the space. invest in all kinds of companies and themes. Dash's 1991 film was named to the National Film Registry in 2004. He joined The Goldman Sachs Group Inc. (GS) in 1994 and was initially assigned to mergers and acquisitions before striking out on his own in 2000. Fintech investors and entrepreneurs continue to reap the rewards of an acceleration in digital transactions. Like Travers J. We want to hear from you. Mapping the Black experience in film and TV. Its the difference between aMoonlightwhich was made for little money and yet grossed hundreds of millions of dollars globally (risky);Black Panther, a Marvel comicyet an all-Black cast and its $100 million budget grossed $2 billion globally (less risky) toMission Impossible 8, $100s of million budget (just the fact that there were 7 before, no risk at all). INVESTMENT BANKS. They are especially fond of AI/ Machine Learning, Mobile Could, Healthcare, and Education. Suzanne Shank: President & CEO., Spelman College. Built by women of color for women of color, the. The Motion Picture Association of America reported global ticket sales in 2019 were over $101 billion dollars. This venture capital is focused on cultivating the next The film brought in a record-breaking $235 million during its opening weekend and went on to ring up more than $1.3 billion in ticket sales globally. An area of travel PitchBook is tracking closely is sustainable tourism, one of 142+ emerging spaces covered in our platform. Since then, Hobson has come to focus on investments more specifically. Co-Founder and CEO of Code2040, Laura Weidman Powers is another great woman to pitch those BAUCE ideas to. In 2017, she was nominated for the Oscar for best documentary feature for her film "13th.". Peter Lynch is one of the most successful and well-known investors of all time. By backing firms, individuals, and towns that had been overlooked by a largely white Wall Street, Bell found a successful market while also spurring development in previously poor and underserved parts of the country. Following the box-office success of his 2005 debut "Diary of a Mad Black Woman," Perry secured a lucrative first-look deal with Lionsgate until 2014. Collins helped pave the way for future Black women filmmakers to have their films get national commercial distribution. In addition to using PitchBook-tracked industries and emerging spaces to inform the format of this article, many of the links included will point you to one of our profile previews. with up to $25,000 in funding. Greaves, who passed away in 2014, is a member of the Black Filmmakers Hall of Fame and the recipient of a Lifetime Achievement Award from the International Documentary Association. He was one of the few Black filmmakers making movies for a wide audience during that time and, while his films were not breaking box-office records, they were gaining critical attention. her vision was to establish an online training center that helps founders build Bell Jr., Goings was an early pioneer for African Americans on Wall Street. After graduating from Howard University, for which he now serves as a trustee, he earned an MBA from Harvard Business School. The 2020 Ariel-Schwab survey found that the deep-rooted gap in stock market participation between Black Americans and white Americans at similar income levels persists, at 55% and 71%, respectively. Potential Investors must be able to afford to lose their entire investment. where others wont and championing what others dont. They are a VC interested One of their key phrases is to look beyond the visible, stating to believe in the things that you cannot quite see yet. Now, the discussion is going deeper. Mellody Hobson seems to have been marked for greatness from a young age. His passionate and powerful post on the Citi blog spoke out against the injustice and deeply ingrained nature of racism in the U.S. Barry Jenkins accepts Best Director for If Beale Street Could Talk onstage during the 2019 Film Independent Spirit Awards on February 23, 2019 in Santa Monica, California. Christopher Polk | E! There are issues with representation in front of and behind the camera, but couldnt some of the problem be the lack of diversity among thosefinancingfilm and TV? Ryan Kyle Coogler is an African-American filmmaker and producer who is from Oakland, California. Apples revenue from its App Store in 2020 was $72 billion. Smith has a keen eye for publicity. NEW YORK, NY - DECEMBER 10: (L-R) Octavia, Spencer, Taraji P. Henson and Janelle Monae attend the "Hidden Figures" New York special screening on December 10, 2016 in New York City. Over the past 20 years, he has held a number of executive-level positions at the bank and its affiliate entities, including CFO of Citis Institutional Clients Group, which provides cash and trade solutions for 90% of Global Fortune 500 companies, before becoming CFO of the bank itself. Hollywood doesnt have that level of oversight in its products. Her Netflix limited series "When They See Us" told the story of the five Harlem teens who were falsely accused of a brutal attack in Central Park. The organization functions in three key areas: professional development, relationship building, and production support. Authentic Ventures screams its purpose with its name. Chasing Unicorns, Thunder Lizards & Black Swans. decisions for billions of dollars in capital. Sometimes funding occurs and relies on the input of the C-suite executives telling the investors of what will be a hit or not. This Black History Month, we're highlighting 27 founders and investors who are leaving their marks on venture capital and tech. If I am building a house, its the difference between my picking the doors or my contractor picking the doors for me. The film received an Independent Spirit Award nomination for Best First Feature. Entertainment Lawyers. When its work began, the firm had just $175,000 in capital, but this figure grew rapidly as a result of a series of successful (and sometimes ruthless) investment decisions. She is currently co-CEO and president of Ariel Investments, a mutual fund firm specializing in value investing with small- and medium-sized companies, and one of the largest minority-owned investment firms in the nation. Next, he rebranded his new institution as OneUnited Bank and gave it a new mission: to ease access to capital in disadvantaged communities. She earned an MBA from UC Berkeley after studying urban studies and creative writing at the University of Pennsylvania. Netflix's Lupin, a Black French series about an international cat-burglar, a non-ethnocentric character, had 75 million viewers globally in its first month of airing. about BLACK INDIE FILMS. Nowadays, in addition to working on the show, John is CEO of the Shark Group, a brand consulting and speaking firm. In 2008, he was awarded the Woodrow Wilson Award, Princeton Universitys highest honor, which is presented each year to a Princeton graduate whose career embodies a commitment to national service. In this global marketplace, African and Caribbean citizens and expats throughout the world look at and desire American Black images and content. "Black Panther" director Ryan Coogler has become a household name in less than a decade. Each of these investors is inspiring and not just because of the success they achieved in their chosen field. These founders are innovating across the education technology (edtech) spacean industry vertical that refers to companies developing software and hardware solutions to enhance teaching practices and improve learning outcomes for students. Shank has also been keen to inspire and support the next generation of Black investors. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Then in the '80s and '90s, Spike Lee and John Singleton used their films to examine urban and racial tensions, providing a mainstream audience with more nuanced Black characters. F. Gary Gray began his career directing critically acclaimed and award-winning music videos for artists such as Ice Cube, Dr. Dre and Outkast. This position, and her prominence in the world of investing in general, led to Time magazine naming her one of the 100 most influential people in the world in 2015. Founder of Only Black-Owned Stock Firm Dead at 46., The New York Times. Smith was born in 1964 in Colorado and studied chemical engineering at Cornell University before earning an MBA from Columbia Business School with honors. invests in technology-abled companies that have great potential for outsized creating the final. Thanks! She co-created Code2040 with the intent of helping underrepresented minorities achieve educational and entrepreneurial success. Jenkins was most recently tapped by Disney to direct a second live-action "Lion King" film. Hollywood could use the example of technology companies like Apple TechCrunch has reported that Black women founders are particularly impacted by a lack of funding opportunitiesreceiving just 0.27% of all US VC dollars since 2018. Muriel Siebert is considered a pioneer for women in the world of finance. According to Forbes, Smith has a net worth of $8 billion, ranking him #86 on the 2022 Forbes 400 list. He co-founded Daniels & Bell, the first Black-owned investment firm on the New York Stock Exchange (NYSE), in 1971. They have invested in black-owned startups such as OmniSpeech, a company that has founded a software program that enhances the sound quality of different communication platforms. While this stock market participation rate by Black Americans is the lowest in the surveys history of more than 20 years, the participation gap is closing rapidly in the younger generation. The meta-documentary, as it has come to be called, featured a documentary, a documentary about a documentary and a documentary that documented a documentary about a documentary. Take a closer look at the data PitchBook tracks, including investors, professionals, companies, and deals data across the public and private capital market ecosystems. She's had a special interest in coming-of-age . (Photo by Paul Archuleta/FilmMagic), Paul Archuleta | FilmMagic | Getty Images. She had two major films: "The Cruz Brothers and Miss Malloy" and "Losing Ground," which were released in the early '80s. DevColor is a company that provides career advice and mentoring services. Director Gordon Parks and actor Richard Roundtree on set of the movie "Shaft's Big Score! At that time, the bulk of her work was unpublished and left to her daughter. The genre was one in which images of lower-class Blacks being involved with drugs and violence were exploited to make commercially successful films. Though VC funding for fintech startups slowed in 2022, startups in the space still garnered $85.27 billion in fundingdown from $126.68 trillion in 2021, according to PitchBook data. - With its turncoats, crimes, cash and even the occasional touch of black magic, the theatrical twists and turns of Nigeria's colourful politics are inspiring directors from the country's Nollywood movie industry. Got a confidential news tip? He was nominated for his film "Boyz n the Hood," a 1991 coming-of-age drama that also earned Singleton a best original screenplay nod at the Oscars. In 2013, he gained critical acclaim and attention for his debut film "Fruitvale Station," which led him to direct "Creed," a spin-off sequel to the Rocky films. His directorial debut came in 2002 with "Barbershop," a comedy film that spawned two other films in the franchise. Hollywood almost entirely misses the submarkets within the Black community. Their main focus is investing that interests itself in companies that surround their purpose around Goings then purchased the Harlem branch, renamed it First Harlem Securities, and bought a seat on the NYSE for $250,000. Writer/Director Jordan Peele attends the 'Us' New York Premiere at Museum of Modern Art on March 19, 2019 in New York City. Its more in line with a 10 to 12% range. Two years later, "Selma" helped DuVernay become the first Black woman to be nominated for a Golden Globe for best director and the first Black female director to be nominated for best picture. Our economy has become far more complex for companies to tackle these issues alone in silos. successful startups. These include white papers, government data, original reporting, and interviews with industry experts. Black founders in edtech Black founders in fintech and blockchain Black founders in media, entertainment, and art Black founders in healthtech Black founders in foodtech and agtech Black founders in beauty, skincare, and haircare Black founders in travel, tourism, and leisure Black founders in business operations and productivity software Black founders in mentorship, coaching, and career readiness and placement Black investors About PitchBooks Black founders and investors to watch list Suggest a founder or investor for this article. 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