Monday, June 27, 2022

MaC Venture Capital Raises $203M In Second Fund

Los Angeles-based MaC Venture Capital, a majority Black-owned venture capital firm, has raised $203M in its second fund, the fund said today. According to MaC Venture Capital, its Fund II nearly doubled its original seed-stage fund, which was worth $110M. MaC Venture Capital was founded by Marlon Nichols; former Washington, D.C. Mayor Adrian Fenty; former William Morris Agency talent agent and operator, advisor, and investor Michael Palank; and MACRO founder and CEO Charles D. King, former agent/partner at William Morris Endeavor (WME). MaC Venture Capital said limited partners in the fund included Fairview Capital, George Kaiser Family Foundation, Goldman Sachs, ICG Advisors, Illumen Capital, the MacArthur Foundation, Stepstone, the Teachers’ Retirement System of the State of Illinois, and the University of Michigan, plus individuals Mellody Hobson, Mitch and Freada Kapor, and others.