NewAge Capital

About The Fund

NewAge Capital is a venture capital firm that sources and invests in formidable founders from underrepresented communities, particularly Black and Latinx entrepreneurs, who are building the future with software and tech-enabled products at the seed stage. They prefer to lead seed investment rounds up to $3M, emphasizing the importance of capital efficiency in early stages of company building. They are industry agnostic but avoid investments in fashion tech, media, crypto/web3, and medical device companies. Their investments range from $850,000 to $1,000,000 with an ownership target of 10%-15%, and they do not plan on making follow-on investments due to fund size and a concentrated ownership strategy. Geographically, they invest exclusively in U.S.-based companies, incorporated in Delaware, with a particular interest in those located in non-target major cities and coastal metros. Their ideal company profile includes those with software solutions demonstrating early product-market fit, large market potential ($1B+), and the potential for strong returns, capable of generating $50M-$100M in annual revenue. The founding team must exhibit deep domain expertise, humility, resilience, integrity, coachability, positivity, strong communication skills, and an understanding of finances. The relationship with founders is critical, preferring to engage months before a capital raise, with monthly updates and periodic meetings. Post-investment, they focus on preparing companies for the Series A round through their proprietary Series A Process and provide operational and strategic support, without taking board seats. NewAge Capital was born out of a desire to change the narrative of entrepreneurship and create financial returns while uplifting historically underrepresented business leaders. Their ethos includes authenticity, empathy, and transparency, to make the venture capital industry more approachable for founders and create a loyal affinity for their mission. NewAge Capital's limited partners include institutional investors such as university endowments.