WOC-owned Partake is rising properly.
After the push from BLM in 2020, many anticipate 2021 to be the 12 months of immense development in communities which might be predominantly black and brown. The reasoning is that many companies and companies began to look inside to see in the event that they have been being as numerous with their hiring and lending as they need to be. The occasions of 2020 have additionally influenced many prestigious individuals to contribute to black-owned companies.
Partake meals, a vegan and allergy-friendly meals firm, noticed a beneficiant investment from Jay-Z last year. Now, it seems that Partake was in a position to amass an honest quantity of funding from an extended listing of respected stars, together with Rihanna. It’s her first funding exterior of her personal strains, corresponding to Savage x Fenty. Rihanna continues to broaden her enterprise ventures whereas making fans wait for new music. Nonetheless, it’s arduous to argue with Rihanna’s enterprise mindset; she’s been killing it.
Based on stories, Partake accomplished a $4.8 million Sequence A funding spherical in late December, led by buyers together with Rihanna, Kevin Johnson’s Black Capital, Seattle Seahawks’ Bobby Wagner, Black Star Fund, As soon as Upon a Farm CEO John Foraker, CircleUp Development Companions, FF2032 and Marcy Enterprise Companions.
Over half of Partake Meals’ complete funding has come from Black buyers corresponding to Jay-Z’s and H.E.R.
“That was very deliberate,” says Partake Meals founder and CEO Denise Woodard. “I really feel very enthusiastic about persevering with to extend wealth within the Black neighborhood wherever doable and so having buyers on board that perceive these missions and targets is actually vital to me.”