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Skoden Ventures plans to close its first fund in 2024 and is targeting $10 million to invest in around 30 early-stage companies.
DENVER — There’s a big gap when it comes to venture capital flowing to companies founded by Indigenous people. Only 0.004% of the approximately $330 billion in venture capital invested in 2021 went to Indigenous founders, according to data from the VC website Crunchbase.
Skoden Ventures, a Denver and Santa Fe-based venture fund that launched in April, wants to play a role in filling that gap.
The fund — which gets its name from a slang term in Native communities for the phrase “Let’s go then” — plans to invest between $175,000 to $250,000 in early-stage creative and creative technology entrepreneurs from diverse backgrounds, including Indigenous, Black and women founders. Those could be founders of companies across a broad range of areas, from jewelry and makeup design to beadwork, art and entertainment.
It’s a diverse swath of companies that typically don’t receive much venture backing or other entrepreneurial support, said Kelly Holmes, one of Skoden’s founding partners who is based in Denver.
> Read the rest of the article at the Denver Business Journal.
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