Westbound Equity Partners (previously called Concrete Rose) announced that it closed $100 million in Fund II, which was oversubscribed. Since the firm’s founding, they set out on an ambitious journey to create a virtuous cycle of wealth and opportunity by investing financial and social capital into exceptional founders and ventures led by or built with underrepresented people of color.
The firm’s new name was inspired by the symbolism behind the Gold Rush, the Great Migration, Hollywood, and Silicon Valley. The American West is a symbol of imaginative new beginnings, and “heading West” has long been an aspiration for being a pioneer, creating community, and building a better future.
The firm has invested in 75 founders with imaginative visions that reshape how people live.
For example, Esusu’s Wemimo Abbey and Samir Goel are providing 45 million credit invisible Americans access to financial products that they did not have access to before.
Through Planet FWD, Julia Collins helps brands accelerate a path to net zero by assessing the true drivers of their emissions. Samuel Walder is making world-class music education accessible to users with Trala. Josh Miller is building a new way for using the internet, starting by building a smarter browser via The Browser Company. The founders Westbound partners with have a focus on building diverse teams.
KEY QUOTE:
“Our commitment remains the same: to provide more than financial capital. We know that social capital – the relationships and connections that lead to new opportunities, introductions, funding, and ideas – shifts and accelerates an organization’s trajectory. That’s why our Advisors and LPs, collectively known as the Westbound Network, commit their social capital and expertise, serving as coaches, collaborators, and super-connectors to help our founders win. They’ve exceeded our expectations in how they’ve shown up for our founders and remain committed as ever to our shared vision.”
– Statement from Westbound Equity Partners
