Dreamward Ventures Co-Founders Working to Boost Black Founders and Investors in Tech Startups

Dreamward Ventures, a new Seattle-based emerging fund, is on a mission to boost the number of Black founders and investors in tech startups. Co-founders Evan Poncelet and Jesse Posey are leveraging their expertise in computer programming and laboratory science to address the significant gaps that exist in venture capital for Black entrepreneurs.

According to Crunchbase, Black-founded startups received less than 0.5% of venture funding in the U.S. last year, highlighting the need for initiatives like Dreamward. Poncelet and Posey, who met at a Seattle Angel Conference event, are using their connections within the tech industry to help match Black founders with potential funding opportunities.

Dreamward Ventures is not only investing in diverse founders but also supporting the growth of Black angel investors through the Washington State Black Angel Network (WBAN). Additionally, they are involved in initiatives like the Black Founders and Funders group and are working to establish a Seattle chapter of BLCK VC, a national nonprofit advancing Black venture investors.

The fund is geography and sector agnostic, with a focus on startups coming out of the Pacific Northwest. Poncelet and Posey are dedicated to building a more inclusive ecosystem for startups and venture capital, ensuring that the industry doesn’t remain homogenous in the future.

To showcase their commitment to supporting Black founders, Dreamward Ventures is hosting a pitch event on June 8 in Bellevue, Wash., featuring startups led by Black entrepreneurs. This event is an opportunity for these founders to connect with potential investors and gain the support they need to succeed in the tech industry.