The Consumer Technology Association (CTA)® – owner and producer of CES® –announced it will invest in MaC Venture Capital as part of CTA’s $10 million commitment to venture firms and funds that invest in women, people of color and other underrepresented entrepreneurs.
MaC Venture Capital is a seed stage VC firm that invests in talented and uniquely qualified entrepreneurs to create the next generation of technology and consumer products. The firm is led by Marlon Nichols, adjunct at Cornell University’s SC Johnson College of Business and a board member of Kauffman Fellows Program; Adrian M. Fenty, former mayor of Washington, D.C., and special advisor to Andreessen Horowitz; Mike Palank, an experienced operator and investor with 15 years in tech and media; and Charles D. King, founder & CEO at MACRO, and former partner/agent at William Morris Endeavor.
“We’re thrilled to invest in MaC Venture Capital, which has unlocked opportunities for more than 100 diverse founders in our country,” said Tiffany Moore, SVP, political and industry affairs, CTA. “Data shows that underrepresented founders – including women and people of color – are at a disadvantage, because they don’t have access to funding from investors. CTA is committed to working toward creating change in the VC landscape. Partnering with MaC Venture Capital is another step in furthering that commitment.”
CTA announced its $10 million funding commitment on stage at CES 2019. As part of its commitment, CTA announced its first two investments last July, followed by two additional investments in October. To date, CTA has invested in Harlem Capital Partners, SoGal Ventures, Rethink Impact and Founders First Capital Partners.
“At MaC Venture Capital, we are dedicated to identifying the entrepreneurs that are building the future, and we believe that a majority of those game changing founders will be from communities of color,” said Nichols. “As we continue on our journey to invest in the very best founding teams that are building solutions to real challenges that represent multibillion dollar opportunities, we couldn't ask for a more influential partner than the Consumer Technology Association.”
In addition to the $10 million investment commitment, CTA is engaging diverse startup founders at CES, building a diverse K-12 STEM Pipeline, and has created a forum for member companies to share best practices on creating greater access and mobility for underrepresented communities.
