Venture Gets A Rare Native American-led Fund In Betsy Fore’s Velveteen Ventures

When Betsy Fore was five, her grandma sewage her a gift she has ne'er forgotten: A Velveteen Rabbit from Goodwill that Fore believed, pinch capable love, could outpouring alive. Decades later, that rabbit has lent its sanction to Fore’s task firm, Velveteen Ventures, which came to life connected Tuesday. 

“I realized aft building companies for astir 2 decades that I could make nan top ripple successful this 1 precious life by being connected nan different broadside of nan table,” she told TechCrunch. Her companies see nan babe nutrient institution Tiny Organics (for which she became nan first Native American woman to raise a Series A) and nan app builder Wondermento. 

“Instead of building 1 thing, I tin thief different founders build dozens of life-changing companies,” Fore said. 

Fore declined to stock what magnitude nan firm’s money would purpose to raise, but SEC filings show it started raising successful October. The firm, based successful nan Midwest, will look to put $500,000 to $4 cardinal successful seed and Series A companies, focusing connected nan healthcare, climate, consumer, and organization sectors. It hopes to put successful astatine slightest 15 to 20 companies. 

More interestingly, however, pinch this launch, Fore becomes 1 of nan fewer Native American women to motorboat a task patient successful nan U.S. 

A fewer years ago, erstwhile TechCrunch looked for backing statistic for Native American founders, nan numbers were truthful debased that they almost couldn’t beryllium accurately pulled. Fore has been moving to alteration that — she has a nonprofit that has worked to connection mentorship and opportunities to Native American founders. 

Describing nan fundraising process, Fore said it was “thrilling to person held organization closes retired nan gate,” and says she has nan “support of purpose-driven institutions” that judge a beardown ROI besides exists successful nan Midwest.  

“I person recovered that erstwhile we do bring connected an LP, it’s because they were searching for us,” she said. 

Joining Fore astatine Velveteen is Karla Brollier, besides of Native descent, who hails from Patagonia and will lead ambiance investments astatine nan firm. Katherine Stabler is joining nan patient arsenic main operating officer, aft decades arsenic an lawyer astatine backstage funds. 

(L-R) Betsy Fore, Karla brollier, and Katherine stablerImage Credits:Velveteen Ventures

Fore said she hopes to grant her ancestors arsenic she runs nan fund, adding that a information of Fund I’s transportation will spell to Native American tribes.