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What you need to know:
– Beta Boom, a pre-seed and seed-stage VC firm focused on impact investing, has secured $14.5 million for Fund II.
– Led by Managing Partners Kimmy Paluch and Sergio Paluch, the fund targets early-stage startups that address critical needs within fast-growing but underserved communities. .
Investment theme and focus
Beyond traditional networks and technology hubs, Beta Boom is looking for passionate founders with guts and deep understanding of the problems they solve. They evaluate founders on more than 30 dimensions across five categories, giving nearly 50% weight to team execution and founder qualities rather than pedigree. For example, an Ivy League connection actually deducts points to counteract bias. This commitment to reducing bias is supported by an analysis of top VC firms, which revealed that 69% of seed investments over the past five years were pedigree-related.
The main investment areas are:
– Fintech: Commit to financial inclusion and empowerment of underserved communities.
– Digital health: Delivering accessible and impactful healthcare solutions.
– The future of work: Create new opportunities and improve working conditions for marginalized people.
Portfolio companies
Beta Boom already has 20 portfolio companies and lead investors, supporting impact-driven ventures including:
Bolder Money: Members’ wealth increases by an average of $12,000.
Canopy: Helped 80% of mothers achieve clinically significant improvement in depression scores.Atane health: Providing access to healthy food for people with chronic health conditions
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