Martha’s Vineyard backdrop for series on Black entrepreneurs, VC funding

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In 2024, funding for startups with Black founders reached a multiyear low, with only 0.4% of all funding going to startups with a Black founder or co-founder. A new docuseries, partially set in Martha’s Vineyard, will follow four founders from historically Black colleges and universities (HBCUs) as they navigate an increasingly scarce funding landscape.

“From Vision to Victory” will follow four startups that have either participated in or are currently participating in the Nex Cubed accelerator. The four startups are in the portfolio of the San Francisco-based venture capital firm, Nex Cubed, a $40 million fund investing in founders from HBCUs.

Funding for Black founders has been historically low. In Boston, less than 0.1% of overall funding for Massachusetts businesses went to Black founders in 2023. With funding now at a multiyear low generally, Nex Cubed — in partnership with docuseries producer Sobey Road Entertainment — is finding an opportunity to not only promote the narratives of its portfolio companies but also the success of Black founders.

Funding woes resonate with audiences across the country.

“People look at diversity as charity, and it’s not charity — it’s good business,” said Terrence Battle, managing director at Nex Cubed. “We’re trying to create a narrative that shows that these folks are just as good as anyone else.”

The docuseries aims to shed light on the funding gap, wealth disparity, and visibility and marketing challenges faced by Black founders in a landscape where funding and access are scarce, said director Lagueria Davis.

“It’s not just about visibility. It’s about equity ownership and legacy,” said Davis.

Filming for the project launched in Martha’s Vineyard, which will serve as the setting for the final episode of the docuseries, as founders present their demos to a group of investors on the island. Sobey Road Entertainment produces the series. It will be hosted by Emmy Award-winning journalist Soledad O’Brien.

Because of the number of prominent businesspeople, financiers and consultants who flock to the Vineyard over the summer, Battle said it would be an ideal place not only for Nex Cubed to network, but also for its founders to connect.

Nex Cubed is industry agnostic but has a strong emphasis on digital health, fintech and edtech. The fund invests exclusively in teams where at least one founder is a graduate of an HBCU. The initial investment process begins with a $120,000 investment and participation in a four-month accelerator program.

The four ventures featured in the docuseries were highlighted for their innovative solutions across industries as well as the founders’ deep understanding of the problems they are addressing, according to Marlon Evans, CEO of Nex Cubed.

Evans told BostInno that this first edition of the docuseries is expected to serve as a pilot program with the possibility of additional docuseries in the future to continue highlighting the diverse startups in Nex Cubed’s portfolio.

“The point of the docuseries is to get it out into the public sphere such that individuals, whether it’s investors or executives, who may not be thinking about HBCUs as a source for talent or a source for investment, will see this piece and say, Whoa. We’re missing an opportunity here,” said Evans.

This article originally appeared in Boston Business Journal.