×
6 758
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Stratford (Westfield)
Permanent · London
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, White City London (Westfield)
Permanent · London
SELFRIDGES
Finance Analyst- Domain
Permanent · LONDON
SELFRIDGES
Finance Manager – Domains
Permanent · LONDON
SELFRIDGES
Tech Business Analyst - Customer & Omni
Permanent · LONDON
NEXT
Sales Manager - Coventry Arena RP
Permanent · COVENTRY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · SELBY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · EPSOM
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · SALE
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · DENTON
FRASERS GROUP
Warehouse Section Manager - Night Shift
Permanent · SHIREBROOK
VIVIENNE WESTWOOD
PA to Creative Director
Permanent · LONDON
DR. MARTENS
eu HR Administrator - French And/or German Speaking
Permanent · LONDON
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
GANT
Brand Consultant - Full Time - Gant House of Fraser Manchester - mw/lw
Permanent · MANCHESTER
Ads
By
Reuters
Published
Oct 6, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Amazon makes first venture fund bets with $150 mln for underrepresented founders

By
Reuters
Published
Oct 6, 2022

Amazon.com Inc is investing in outside venture capital funds for the first time, saying on Wednesday it planned to hand $150 million to firms that are backing underrepresented founders.

Amazon


The online retailer said it is aiming to put money into more than 10 funds supporting some 200 companies at or before the seed stage of investment, through 2023. It is focused on Black, Latino, female, Indigenous and lesbian, gay, bisexual, transgender, queer, intersex and asexual (LGBTQIA+) founders, Amazon said.

The company expects the initiative will lead to a financial return and new product development to benefit its customers, coupled with extra capital for those lacking access, said Nick Komorous, vice president of corporate development.

"There's a lot of data to support that these diverse groups and teams end up seeing more products reach market," he told Reuters. At the same time, "investors are being more cautious with the economy in its current state, so the need's even more critical."

The news follows a similar effort by PayPal Holdings Inc last year committing $100 million to funds and depository institutions in support of women.

Amazon has at times stumbled on diversity as an employer, recently losing two of its most senior Black leaders. It also remains a small player in venture capital, dwarfed by rival Alphabet Inc, an arm of which has more than $8 billion under management.

The retailer's now $200-million Alexa Fund has directly invested in voice-technology companies. However, Amazon faced scrutiny for launching products that competed with startups it backed.

Komorous said news that Amazon would invest as a so-called limited partner was unrelated to criticism and instead a way to "force multiply" investing and reach earlier-stage entrepreneurs.
Amazon will set up founders with its executives and other resources without taking a board seat, while leaving open a chance for direct investing in the future, he said.

The company so far has made four bets through the "Catalytic Capital" initiative, including in the Techstars Rising Stars fund, which offers $100,000 to entrepreneurs without deep-pocketed networks to bankroll fledgling startups, according to its website.

Amazon also invested in Collide Capital, Share Ventures and the Elevate Future Fund, it said.

© Thomson Reuters 2022 All rights reserved.