Nifty Games Investment OutBuro LGBTQ professional entrepreneur online networking community gay lesbian bisexual transgender queer nonbinary supplier diversity

Nifty Games Raises $38M in New Capital to Redefine Mobile Sports Games as NFL Clash and NBA Clash Move Towards Worldwide Release

Nifty Games’ Series B Round Brings Available Capital Raised-to-Date to $53M

LAFAYETTE, Calif., Aug. 31, 2021 /PRNewswire/ — Nifty Games Inc., a videogame developer and publisher focused on quick-session, head-to-head sports games for mobile, has raised $26M in a Series B round of equity funding led by Vulcan Capital. In addition, the company has secured $12M in connected debt financing.

Attracting investors globally, Nifty Games has raised over $50M since the company was founded in 2018 by gaming industry veterans Jon Middleton and Pete Wanat.

Nifty Games

The Company’s Series B round is led by current backers Vulcan Capital, and supported by ongoing investors March Gaming, Defy Partners and Courtside Ventures, as well as a strategic group of new investors, including Korea-based funds Woori Capital, K-NET and Yes24. Other new investors include Steve Pagliuca, managing owner of the Boston Celtics, Speedwagon Capital, Brighton Jones, and Gaingels, a global network of LGBT/Ally investors. With this additional funding, Nifty Games is now one of the industry’s most well-funded mobile gaming startups.

Nifty Games is focused on delivering quick-session competitive mobile games with licenses from the National Football League (NFL), National Football League Players Association (NFLPA), National Basketball Association (NBA), and National Basketball Player Association (NBPA). Nifty Games aims to build out a slate of titles with the world’s largest sports licenses to deliver gameplay tailored for mobile first. The company’s premier game NFL Clash, already available in select markets worldwide, launches in the United States this year. The latest round of funding will be used to further grow the Company’s sports games line-up as well as investing in top-tier development staff to deliver state-of-the-art gameplay for global sports fans.

Jon Middleton, CEO of Nifty Games, said “With Nifty Games Series B, we’ve been fortunate to add further investments from partners that are true supporters with each believing in our team and the larger opportunity ahead. We’ve purpose-built Nifty Games to deliver a new slate of sports games for mobile gamers worldwide. We’re proud of the team we’ve assembled, our incredible partnerships with the NFL, NFLPA, NBA, and the NBPA, as well as our family of financial backers committed to seeing Nifty Games win big. We’re excited to grow Nifty Games as NFL Clash and NBA Clash lead the way!”

“We see an incredible commercial opportunity in bringing premium sports games to casual mobile game fans, in which they get to build a roster with favorite pro players and call the shots as their team competes all season long,” said YB Choi, Partner at Vulcan Capital. “Given our early involvement with Nifty Games, we’re excited to step up our support as they head towards making their first games, NFL Clash and NBA Clash, available to sports fans worldwide.”

Stephen Pagliuca, Co-Owner of the Boston Celtics and Co-Chair of Bain Capital, said “Nifty Games sits at the exciting intersection of sports fandoms, mobile gaming, and IP-driven business models. I’ve been impressed with the team’s vision and execution to date, and believe their approach will redefine the mobile sports game sector. And as a fan myself, can’t wait to play their games and see them top the charts!”

About Nifty Games
Nifty Games is a mobile-first developer and publisher of quick-session, head-to-head sports games. To date, the company has raised funding from leading sports, video game, and technology focused investors. The company is based in California. Learn more at Follow us on Twitter at @NiftyGames.

 *All copyrights, trademarks, logos and brands are property of their respective owners.

SOURCE Nifty Games


CONTACT: Andrea Sausedo Piotraszewski, Zebra Partners,; EMEA Contact: Alex Verrey, Heaven Media Limited,

New Survey Shows Los Angeles VCs Outpacing National Funding for Women, POC-Led Businesses; Wide Pay Gaps Still Exist in LA Tech, Ageism Concerns Emerge

PledgeLA to convene task force to address systemic pay inequities and raise non-equity funding for Black & Latinx entrepreneurs

LOS ANGELES–(BUSINESS WIRE)–PledgeLA, a coalition of hundreds of venture capital (VC) and tech leaders in Los Angeles working to increase equity, community engagement, and accountability around corporate diversity efforts, today released the results of its expanded, third-annual diversity, equity, and inclusion survey.

Annenberg Foundation

Launched in October 2018, PledgeLA is a partnership between the Annenberg Foundation, the Office of Los Angeles Mayor Eric Garcetti, and 219 L.A. venture capital firms and tech companies. PledgeLA is unique among VC and tech DEI efforts in that it annually measures its members’ progress and provides support to help member companies achieve improved DEI goals and outcomes. No other region in the nation collects self-reported data on diversity, equity, and inclusion (DEI).

This year’s PledgeLA diversity survey is the largest ever conducted for Los Angeles VC and tech companies, with participation from 174 organizations. Key findings of this year’s survey include:

  • Investments from PledgeLA VCs for Black, Latinx, and women founders outpace the national average: The investments made by PledgeLA VCs in Black founders increased by 71% since last year (see graph here). Far more gains are needed, however, when it comes to funding for women and Latinx-owned business. Given that one out of every 10 VC dollars flows through Los Angeles – a 39 percent increase from 2019 – these trends have national implications.1
  • Women and People of Color Face Persistent Pay Gaps: While women in L.A. tech companies have greater representation from entry level to senior management positions than Silicon Valley2, women earn significantly less than men (see graph). This gaps is larger than the national average. Additionally, Black and Latinx employees earn far less than their peers (see graph).
  • Number of Gen X Tech Employees in the Workforce Saw Significant Decrease in 2021: While the majority of staff demographics remained unchanged between the 2020 and 2021 surveys, we did see a significant shift in the age of PledgeLA companies’ workforce. Just 22% of workers report belonging to Generation X or older this year, a decline from 37% last year. This means the vast majority of the L.A. tech workforce was born between 1980 and 1990, a spike in the number of Millennials, and a decline in opportunities for older adults. This raises important questions about potential ageism and the representation of diverse age groups in the tech workforce.

Despite the persistent challenges faced by the L.A. tech and VC sectors when it comes to increasing diversity, PledgeLA has seen encouraging signs that its efforts are bearing results. With a multi-year focus on increasing access to jobs in tech, venture capital, and funding for women and POC-led startups, the initiative is focused to ensuring that measurable growth and progress continue. Over the coming year, PledgeLA and AnnenbergTech have committed to:

  • Raise another $1 million over two years for “The PledgeLA Founders Fund– This is an annual pool of non-dilutive funding that provides $25,000 grants to 20 early-stage Black and Latinx-led companies. In addition to no-strings funding to help grow their business, the Annenberg Foundation provides each with four months of technical assistance with Grid110, while PledgeLA’s network of leaders and businesses help grow participants networks and find other sources of capital. Following last year’s pilot, which focused on entrepreneurs in the South L.A. community, the effort has already helped founders of color make measurable gains. In a little more than six months, the pilot group raised more than $2.55 million in follow-on capital, hired 29 employees, and 89% of businesses increased recurring revenue.

In 2021, the program will expand to serve early-stage Black and Latinx founders across all of Los Angeles County, buoyed by support from new partners Earvin “Magic” and Cookie Johnson and the Anthony and Jeanne Pritzker Family Foundation. Both have pledged multi-year funding and outreach support for the effort for the next two years.

“Backing visionary entrepreneurs of color is a clear path to building economic opportunity and generational wealth for our communities,” said Earvin “Magic” Johnson, Chairman and CEO of Magic Johnson Enterprises. “We’re excited to back the PledgeLA Founders Fund because it highlights the tremendous untapped potential for businesses led by people of color that might otherwise be overlooked. When investors broaden their lens, we all win.”

  • Convene a task force to address ongoing regional concerns around racial and gender pay equity. – Working with advisors from PledgeLA’s leadership team, approximately 20 participating businesses will be asked to gather and reflect on detailed internal data about pay equity and their compensation practices. While each participant’s data will be kept private, the group will identify challenges they all share, and be tasked with making recommendations for the broader ecosystem about ways to ensure fairer pay. Additionally, this group will partner with experts from the new Wallis Annenberg GenSpace to examine the images of ageism and generational differences in representation.
  • Expand its core programs that seek to increase access to jobs for women, people of color, and under-represented groups. – PledgeLA’s core programs include its Summer VC Internship Program, a collaboration with HBCUvc, which provides interns with 10 weeks of experiential learning, including full-time work at a VC firm. Of this year’s final cohort, 100 percent identify as a woman or a person of color. Alumni of the program have gone on to investment roles at the Dorm Room Fund, PayPal Ventures, Upfront Ventures, and Vamos Ventures.

PledgeLA also has a Tech Mentorship Program, hosted in partnership with the Riordan College to Career Program at UCLA Anderson School of Management. This program matches 50 L.A. tech leaders as mentors to 50 first-generation college students and recent grads. Meeting monthly for a full year, PledgeLA mentors work with PledgeLA to place students in either tech internships or a full-time role by June 2022. Last year, just over 80% of mentees were matched full or part-time opportunities at companies including Accenture, Amazon, Crexi, Google, Oracle, PwC, J.P. Morgan, McKinsey, and U.S. Bank.

“The Annenberg Foundation and our Chairman Wallis Annenberg created PledgeLA to ensure that all Angelenos benefit from the growth of our Los Angeles tech and innovation sector,” said Cinny Kennard, Executive Director, Annenberg Foundation. “Despite the persistent challenges we face, the impact made over the last three years shows our collective’s tremendous potential. In that time, PledgeLA has matched nearly 150 underrepresented Angelenos with paid opportunities in tech and VC, provided $500k in grants to founders of color, and fostered a regional spirit of accountability and action.”

“Los Angeles has one of the most diverse economies in the country because we know our businesses are stronger when they represent the people they serve,” said Los Angeles Mayor Eric Garcetti. “PledgeLA’s work to provide critical data and blueprints for action will help us continue to break down barriers to opportunity for underserved and underrepresented Angelenos in the workforce.”

The complete aggregated results from the survey are available here:

About PledgeLA’s Survey Methodology & Regional / National Comparisons

In a context where a lack of data around diversity and representation is the norm, PledgeLA’s efforts represent a bold step towards authentic local accountability. No other region collects self-reported data on diversity, equity and inclusion. Most reports traditionally rely on secondary data-sources, such as government records that only focus on race and gender and have no public reporting requirements. Additionally, unlike PledgeLA’s annual survey, which captures both company location and employees’ hometowns, other regional surveys lack specificity when it comes to geography.

To gather this type of data from companies of all stages, PledgeLA partnered with Pluto, a diversity & inclusion platform, powered by survey and communication features that are specifically designed to help advance [DEI] efforts. Pluto offers comprehensive DEI metrics, advanced intersectional analytics within and across companies, and proprietary privacy measures that protect respondent identities regardless of company size. For the comparisons to Silicon Valley, the PledgeLA team used the Center of Investigative Reportings 2018 survey of diversity in Silicon Valley as a point of comparison for race and gender data. To benchmark our venture capital portfolio data, we indexed our findings against the 2020 RateMyInvestor Diversity in US Startups report, which analyzed the investments of 100 non-overlapping firms.

About PledgeLA

PledgeLA is a collective of L.A.-based tech companies and venture capital firms working to create measurable change in the areas of community engagement, diversity, equity, and inclusion. Created in partnership with Mayor Eric Garcetti, the Annenberg Foundation, and over 215 Los Angeles venture capital (VCs) and tech companies, PledgeLA’s members make a commitment to track their community engagement and diversity data each year and make that data publicly available. They also work to expand their engagement with local nonprofits that support diverse talent and reflect the civic spirit of Los Angeles. Additional support for PledgeLA has been provided by the Acevedo Foundation, the Weingart Foundation, and the Conrad N. Hilton Foundation.

About the Annenberg Foundation

The Annenberg Foundation is a family foundation that provides funding and support to nonprofit organizations in the United States and globally. The Foundation and its Board of Directors are also directly involved in the community through innovative projects that advance public well-being, spark new ideas, and spread knowledge. The Foundation is committed to core values of responsiveness, accessibility, fairness, and involvement. To learn more about the Annenberg Foundation and their various initiatives, click here.

PledgeLA Venture Capital Signatories:

Act One Ventures, Activist Artist Management, Alpha Edison, Amplify, Backstage Capital, BAM Ventures, Baron Davis Enterprises, BCG Digital Ventures, Beach View Capital, BioscienceLA, Blue Skies Unlimited, Bonfire, Bryant Stibel, China Visionary Group, Clocktower Technology Ventures, Comcast Ventures, Cooley LLP, Core Innovation Capital, Countrywood Holdings, Crosscut Ventures, Diverse Communities Impact Fund, Embark Ventures, Early Growth Financial Services, Evolution, Fifth Wall Ventures, Fika Ventures, First Republic Bank, Greycroft, Halogen Ventures, HMC INQ, KW Capital Partners, LDR Ventures, List Ventures, Los Angeles Cleantech Incubator (LACI), Luma Launch, M13, March Capital, MarsBio, MaC Venture capital, MiLA Capital, MOBD Ventures, Moonshots Capital, Mucker Capital, Muse Capital, Navigate Ventures, Navitas Capital, Okapi Venture Capital, PLG Ventures, Plug and Play, PLUS Capital, Pritzker Group Venture Capital, Roadster Capital, SA&M Preccelerator, Scopus Ventures, Silicon Valley Bank, Slauson & Co., Sound Ventures, Stage Venture Partners, Starburst Accelerator, Stat Zero Group, StillMark, Sutton Capital Partners, Tale Venture Partners, Techstars, TenOneTen Ventures, The 22 Fund, Thin Line Capital, Troy Capital Partners, Trousdale Capital Management, TYLT Ventures, UCLA Biodesign, Upfront Ventures, USC Marshall Venture Fund, VamosVentures, Vine Ventures, Watertower Ventures, Wavemaker Partners, The West Coast Consortium For Technology & Innovation in Pediatrics, Women’s, Innovation Fund Accelerator, and Wonder Ventures

PledgeLA Tech Company Signatories:

2Swim, 7TILL8 Wetsuits, 70 Million Jobs, 81cents, Accurate Property Tax Inc., AlgoPay, Inc., Altura, amginE Ink, LLC, Artium Technologies, LLC, Aspiration, AudioCardio, AvantStay, Inc., Avisare, Basepaws, BESE, Beyond Meat, Bird, Blue Fever, Boingo Wireless, Breadware Inc., BUENA, CareNodes, Commercial Real Estate Exchange, Inc. (CREXi), Community, COMUNITYmade, Coral, Cornerstone OnDemand, CPR Save, Creative Spoons, Croquet Corporation, Cuál, DailyKarma, DASH Systems, Inc., Data 360, Denken Solutions Inc., Dogdrop, Dollar Shave Club, dot.LA, DPFTRAC, Elevate My Brand, EMWDESIGNS, Emblematic Group, Encantos, Enplug, Ettitude, Everytable, EVgo, Expy Health, FabFitFun, FairClaims, Fama, FamiLeague, Inc., Fernish, Finli, FLATLAY Inc., Flavors from Afar, Gearup 360, Giftata, Gladeo, Golden, Good Job, Grid110, Hawke Media, Heir Apparent, Helpr, Holisticism, Honey, HopSkipDrive, Hot Bit VR, Idealab, Inclusology, Instil, Jam City, Jasper, Jimaye, Joymode, Jump Watts Inc., Kitchen Table App, Larta Institute, Launchmaps, Lawgood, Liquid, Lorals, Mahmee, MediaAlpha, MediPocket, Me Tyme Network Inc., Mikomoss Labs, Mondays Labs, Munchee Haus, Noun Project, Nuyorktricity, Officebook, Omaze, OurOffice Inc., Ozobot, PAIRE, Parkonomik, Peachscore, Peak Metrics, Perch Mobility, Inc., Pick My Solar, Ping, Pledge, PocketCFO, Pocketwatch, Rapid7, Reel, Sabio Enterprises, Inc., ScaleHealth, Snap Inc., Solver, Inc., Soylent, SteelHouse, Stellar Agency, StoryPlace, SUMA Wealth, Sweet Flower, sweetgreen, TALA, Tastemade, Techonsite Corporation, TecnoLatinx, The Bouqs Company, The Handoff Company, Thrive Market, Toucan, Tradesy, Trappit, US, TuesdayNights, Two Bit Circus, UNOMi, Valence Enterprises, Inc., Virgin Hyperloop One, #WeAllGrow Latina Network, Wellsayer, WeTransfer, Zip & Go Assist (Virtual Assistants), and Zypp


1 The aggregated data from surveys and the report were combined to create a “snapshot” of L.A.’s progress towards advancing equity in LA tech and access to capital. Combining self-reported data from leaders, staff-level surveys, and public data, this represents the most detailed, multi-year look at Los Angeles investment dollars ever prepared.

2 Comparison of PledgeLA tech company demographics against the Center for Investigative Reporting’s 2016 analysis of 22 Silicon Valley companies’ EE0-1 reports:


Katie Dunham

Mammoth Scientific Launches $100 Million Venture Capital Fund

ATLANTA–(BUSINESS WIRE)–#financialservicesMammoth™ Scientific, a health science and technology venture capital firm, announced the launch of a $100 million venture capital fund today. Co-founders Dr. Jay Yadav, Tommy Martin, Kim Mackrill, Dr. Matthew McGirt and Jud Mackrill provide venture capital for health science and technology companies who are maturing beyond seed rounds. The Mammoth team includes seasoned physician entrepreneurs and highly successful operational managers, representing a twenty-year track record of creating and investing in multiple successful startups with large exits to major global companies (e.g., Abbott Laboratories, Boston Scientific, Johnson & Johnson) or to the public markets.

mammoth logo tm logo full color rgb

Mammoth’s competitive edge comes from its creation of venture capital investment pathways for the highly underserved RIA advisory market. Through proprietary fintech, Mammoth has integrated groundbreaking 2021 SEC and healthcare investment rules. The U.S. RIA market manages more than $5.7 trillion but has historically been hindered from providing venture capital investments to clients due to regulatory challenges, uncertainty around risk and how to best engage clients1. Mammoth has created a pathway for compliant marketing, sales and management designed to keep wealth managers at the center of their client relationships.

The founders bring personal entrepreneurial experience to the fund.

“As veterans in the startup world, we have first-hand knowledge of the collective effort and shared vision that are essential to creating companies that move beyond the ordinary,” said Jay Yadav, Co-Founder and General Partner of Mammoth. “Mammoth was founded to help ambitious startups navigate the complex regulatory requirements necessary to gain FDA approval, create reimbursement pathways and to provide the founders with access to their extensive networks.”

The team uniquely knows what it’s like to sit on both sides of the table to create shareholder value. “We are uniquely positioned to help founders grow and gain access to the RIA Channel,” said Tommy Martin.

“This was the logical next step for all of us,” said Jud Mackrill. “The team is fortunate to have founders who have worked alongside mentors and colleagues to help develop innovations in health science and technology that changed the game in their respective fields. We are grateful to those that helped us in the past and look forward to facilitating similar experiences for our portfolio companies. “

Health science and technology founders who are facing complex regulatory hurdles or distribution channels typically seek trusted guides to walk with them through the process. Mammoth exists to fund the companies that are creating a healthier, data driven future.

The investment opportunity in healthcare alone grew from roughly $10 billion in 2019 to $19 billion in 2020, exceeding 75 percent of the sector’s fundraising across PE asset classes2. Mammoth is committed to bringing these healthcare opportunities, which have typically been reserved for institutional investors, to the broader retail investor community through the RIA channel. “RIAs have been completely underserved as it relates to access to high quality venture capital and we knew that was a problem we could solve,” continued Mackrill.

Early supporters recognize the potential upside of Mammoth’s approach. CEO of Methodist Sports Medicine, Marty Rosenberg, shares, “I’ve seen many revolutionary ideas fail because founders didn’t understand how to break through red tape. The team at Mammoth Scientific innately understands the processes and underlying technologies required to go to market and succeed. That’s why this team is so impressive. They have the right combination of skills to work through regulatory requirements, assess technical innovation, and to get in front of investors.”

To learn more about Mammoth Scientific and its $100 million Mammoth Health and Tech Fund, please visit

About Mammoth

Mammoth Scientific, as the Manager of certain venture capital funds including Mammoth Private Capital Health and Tech Fund, focuses on investing in series A and beyond life science and tech companies with complex regulatory needs. We specifically seek to add value to portfolio companies that fill an unserved gap or unmet need in healthcare and life sciences, not merely a preference-based product or service. The Mammoth team strives to guide companies to create a timely and cost-efficient pathway for both FDA and EU clearance, as well as public and private reimbursement approval processes, prioritizing growth acceleration and facilitating exit strategies and partners. Learn more at

Mammoth Scientific, Mammoth Private Capital Health and Tech Fund, the Mammoth logo, and the tagline “Invest Beyond the Ordinary” are trademarks of Mammoth Scientific, LLC and are protected by trademark laws of the United States and other countries. All other product and company names are trademarks or registered trademarks of their respective companies.


2 Year Of Disruption In The Private Markets, McKinsey Global Private Markets Review 2021, April 2021


Jimmy Moock

Jason Lahita

OutBuro Voices 1-28 Lorenzo Thione Gaingels LGBTQ Startup investing financial funding investor gay entrepreneur

Lorenzo Thione: Out Gay Entrepreneur, Venture Investor & Broadway Producer

In this episode of OutBüro Voices featuring LGBTQ professionals, entrepreneurs, and community leaders from around the world, host Dennis Velco chats with Lorenzo Thione, Managing Director of Gaingles (, an LGTQ equality centric venture capital syndicate.

Lorenzo is a serial out gay entrepreneur, venture capitalist, writer, Broadway producer, and LGBTQ non-profit founder. Born and raised in Italy, he moved to the United States to attend college in Texas focusing on computational linguistic artificial intelligence. He co-founded his first start-up business right out of college and it’s been the entrepreneur’s path ever since.

Lorenzo Thione Gaingels LGBTQ entrpreneur out gay business venture capital investor OutBuro

Thione is the Managing Producer of Sing Out, Louise! Productions, the co-founder and CEO of The Social Edge, and a Managing Director at Gaingels (, a venture investment group based in NYC focused on investing and supporting LGBT+ founded/led startups, and socially responsible companies focused on supporting LGBTQ equality. In addition to his work as an entrepreneur, technologist and venture investor, Lorenzo is the co-creator/co-book writer and the lead producer of Allegiance, the 2015 Broadway musical starring George Takei and Lea Salonga. In developing Allegiance, he developed and deployed social-media viral strategies that led to the astounding growth and unprecedented awareness and audience engagement for both George Takei and Allegiance’s social media platforms, and – in turn – to the founding of The Social Edge, a social media management and marketing firm based in NYC. His producing credits include The Inheritance, Slave Play, Hadestown (Tony Award), Cher Show, The New One, Catch Me If You Can (Tony Nomination), and American Idiot. Additional IMDB credits: George Takei’s Allegiance (Director, Executive Producer), Bandstand – The Boys Are Back (Director, Executive Producer), Allegiance To Broadway (Executive Producer).

Lorenzo Thione Gaingels LGBTQ entrpreneur out gay business venture capital investor OutBuro

Besides being an active investor in the LGBT+ startup ecosystem via his position in Gaingels, Lorenzo is a founding board member and Chair Emeritus of StartOut, a non-profit organization dedicated to fostering and developing entrepreneurship within the LGBT community. A native of Milan, Italy, Lorenzo holds an M.S. in Computer Engineering from the University of Texas at Austin and has co-authored several publications in Software Engineering and Computational Linguistics. He is an active investor, advisor, or board member, in over 80+ startups and a named inventor on over 30 pending and issued patents in the US and worldwide.

  • 01:45 Lorenzo Thione provides a brief introduction
  • 01:50 Introduction to StartOut
  • 03:30 Introduction to Gaingles, the largest LGBTQ focused venture capital syndicate
  • 05:50 The journey to entrepreneurism
  • 08:30 Entrepreneurism is not a passion. It is a disease.
  • 10:30 Surround yourself with a support network11:00 Having a co-founder(s) can balance and round out the experience
  • 11:30 Parinoid-optimist and projecting the reality you desire
  • 13:00 Perception is reality
  • 14:30 Failure is an experience of learning
  • 15:30 Mentors and Peers
  • 16:30 Ways to be involved with Gaingles
  • 17:00 Description of companies Gainles invests in today as a venture syndicate through venture lead rounds: (1) LGBTQ owned (founders), (2) LGBTQ leaders in C-suite, (3) LGBTQ equality value-aligned companies
  • 22:30 How social responsibility investing positively impact companies with an example of a negative impact with business reputation and customer trust lead to reduced financial performance
  • 23:45 Gaingels has grown from investing about $4-million 4 years ago to about $20-million in 2019 and just surpassed $50-million in investments in this year (2020) alone.
  • 24:00 Is there any chance companies are using Gaingels as window dressings like Pinkwashing investing?
  • 32:00 Early stages mean greater impact
  • 35:00 Lorenzo’s tip for LGBTQ startups

Connect with Lorenzo on OutBüro at:

Join Lorenzo on OutBüro, the LGBTQ professional and entrepreneur online community network for gay, lesbian, bisexual, transgender, queer, allies and our employers who support LGBTQ welcoming workplace equality focused benefits, policies, and business practices.

Would you like to be featured like this? Contact the host Dennis Velco.

LGBTQ Corporate Equality - Do You Fund LGBTQ Owned Busineses Non-Profits [Video] - OutBuro Employer Branding Company Ratings Reviews Monitoring

Do You Fund LGBTQ Owned Businesses or Non-Profits?

Are you an angel investor, venture-capital fund or company that is opened and or proactively seek out LGBT owned businesses to invest in or sponsor? is a platform for you to find LGBTQ owned businesses to consider. Indicate on your OutBüro LGBTQ professional profile that you are an angel investor or venture-capital fund or another funding resource so that business owners may search for you.

Leverage the system to seek those looking for funding too. Add your OutBüro LGBTQ employer listing for your company and indicate who you sponsor and/or fund. Those businesses or non-profit organizations can in return on their OutBüro LGBTQ employer listing indicate that you are their funding source. Join today. Your professional profile is free and your employer record is based on the number of employees that you have in your direct legal entity.

Indicating Investor or Sponsor Funding on Your Profile

1. Choose About to view your professional profile.

LGBT Professional Profile Navigation - OutBuro - LGBTQ Corporate Equality Employer Branding Company Ratings Reviews Monitoring gay lesbian

2. Scroll down to locate the Business Funder section. Click the Edit button.

LGBTQ Owned Business Funder Funding - OutBuro - LGBT Corporate Equality Employer Branding Company Ratings Reviews Monitoring gay lesbian Professional Profile

3. Make your selection(s) from the drop-down then click the Save button.

The options are:

  • Nope not me
  • Individual Investor
  • Angel Investor
  • Venture Capital Investor
  • Business Loans
  • Business/Organization Sponsor
  • Grants
  • Other
LGBTQ Owned Business Funder Funding Options - OutBuro - LGBT Corporate Equality Employer Branding Company Ratings Reviews Monitoring gay lesbian Professional Profile

4. The field visibility option is set administratively as viewable by site members only.

Employer Listing – Funding Available for LGBTQ Owned Businesses or Organizations

For companies and investors, also claim/add your Employer Listing to indicate your funding types for LGBTQ owned businesses and/or non-profits.

Provides funding sponsorship capital investorment loans grants LGBTQ corporate equality employer reviews ratings monitoring branding Workplace - OuutBuro - diversity inclusion discrimination

How to Raise Money for Your LGBT Owned Business: Part I

Starting a new business can be expensive, so it makes sense to seriously consider investment options right from the beginning. However, first you’ll need to be well prepared for the obligation that comes with getting funding, the questions to ask, and the small print to consider. So how can you prepare for this?

Challenges faced by small businesses starting out

Some businesses can be launched without much capital. For example, if you’re planning to provide remote services while working as a sole proprietor, you may need nothing more than a laptop and an internet connection.

But other types of businesses need money to get started. If you intend to launch a business that needs significant capital expenditure (such as a retail or manufacturing business or a company that employs several other people), you won’t get far without initial funding.

Seven questions to be ready to answer

Whoever lends you money will want to know you’re serious about investing it to grow your business. They will also want to know that you’ll be able to pay back the loan principal and the interest.

Make sure you have the answers to these important questions at your fingertips when talking to a potential investor:

  1. How much money do you want to raise?
  2. Will you be able to provide any collateral? What are your assets?
  3. Are you looking for debt, equity or other financing?
  4. How is your business credit rating? You can check this yourself in many countries.
  5. How is your personal credit rating? This too ­– and yes, the banks will check.
  6. How long have you been in business?
  7. What is your revenue?

Use professional accounting software to prepare charts and forecasts of your costs and revenue. This will help convince lenders that you have a solid business plan in place.

Always read the fine print

The terms and conditions of most loan agreements include the option for the lender to call in the loan at any time. That means the lender can ask for all their money back, with little or no notice, and regardless of whether you’ve been paying on time up to that point.

This doesn’t happen often, but when it does it can be devastating. Unfortunately it happens most often during recessions, when banks and other lenders become more nervous about the likelihood their loans won’t be repaid.

This is just one reason why you should read the fine print of any loan agreement carefully. Get legal advice if necessary, and work with your accountant or financial planner to determine how much you can safely borrow. Make sure you understand all the terms of the loan before you sign.

Understand the cost of investment

When raising money for your business, you’re unlikely to get something for nothing. Your investors will want something from you in return for risking their funds:

  • For bank or credit card loans
    The cost to you is the interest rate and the risk of losing any collateral you’ve put up.
  • For angel investors and venture capitalists
    The cost is usually a percentage of ownership or control of your company.
  • For crowdsourced funds
    It’s whatever you’ve pledged to deliver in exchange for the money raised.
  • For friends and family
    It could be any of the above plus the risk of ruining a good relationship if things go wrong.

In other words, getting funding creates an obligation. It means you have a responsibility to make the most of the money you’ve been given.

That might seem like a challenge, but on the plus side it can help you to focus on your business and concentrate on making it a success.

Once you have the money, make it work for you. Use good quality accounting software to keep track of the amount you’ve borrowed, what you use it for and how much you pay back over time. Read Part II of this guide for eight ways you can raise funds for your small business.

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