Nortrhup Investment Fund will with a venture capiral partner set up The Obsidian Fund to help tap into the latent potential of black and mixed race founders, black founders and investors are increasingly active in the venture capital (VC) space, but face persistent challenges in securing funding and leadership roles within the industry.

While there has been some progress, particularly in 2021, funding for Black-founded startups still lags behind, with only a small percentage of total VC dollars / pounds etc going to this group. Black-led VC funds are also growing in number, but still represent a small fraction of the overall VC landscape, with only 0.48% of total US venture capital going to them in 2024

The fund will not be open to fashion, hair and beauty, bakery and personal training companies.

Expected Pre 2030