At the beginning of Pride Month (June), Ohio-based venture firm Loud Capital launched a new $10 million vehicle called Pride Fund 1. The fund is targeting investments in companies led by LGBTQ founders and other businesses aiming to serve the LGBTQ community.
The fund was born out of a recognition that few investors were actively pursuing members of the LGBTQ community. Loud Capital is not the only VC pursuing this niche. While most diversity-focused funds take a broader approach toward underrepresented founders, other investors, such as Backstage Capital and Gaingels, a syndicate of angel investors in New York, have specifically sought out LGBTQ founders.