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Follow on Google News | Fabric VC Closes Fund 1 To Weave A Better Future For Diverse FoundersBy: Fabric VC Founded by GP Laurel Mintz, Fabric began raising funds in 2023 with the goal of fixing the systemic barriers in VC both on the founder and funder sides to weaving a better future for BIPOC, LGBTQIA+ and women founders. Following the firm's quadruple bottom line approach, Fabric will invest in startups that generate benefits for people, planet, profit and purpose. Previous to the first close, the fund had already backed Cadence, an AAPI woman-owned startup creating patented magnetic containers made from recycled material of ocean-bound plastic and material scraps. "While raising this first round, I've met many inspiring founders whose aligned passion to change the face of venture makes me excited to start deploying in deserving companies," Mintz concluded. End
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