CTA picks first two funds it will invest in as part of a larger diversity and inclusion commitment - Technical.ly DC

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Jul. 18, 2019 10:00 am

CTA picks first two funds it will invest in as part of a larger diversity and inclusion commitment

The Arlington-based association made its first two investments as part of a $10 million commitment to venture firms and funds that invest in women, people of color and other underrepresented entrepreneurs.
Show me the money.

Show me the money.

(Photo by Flickr user 401(K) 2012, used under a Creative Commons license)

Arlington, Va.-based Consumer Technology Association (CTA) announced that it has made its first two investments as part of a $10 million commitment to venture firms and funds centered on diversity and inclusion.

The association announced in January that it is investing in venture firms and funds that in turn invest in women, people of color and other underrepresented entrepreneurs, the press release states.

“For innovation to reach its fullest potential, different voices and perspectives must have an opportunity to come together in our workforce,” Tiffany Moore, SVP of political and industry affairs at CTA, said in a statement. “CTA is committed to finding solutions through education, investment, membership and leading by example.”

CTA has invested an undisclosed amount in both New York-based Harlem Capital Partners and SoGal Ventures. Harlem Capital Partners is a minority-owned, early-stage venture capital firm with a mission to invest in 1,000 diverse founders over the next 20 years. SoGal Ventures is a women-led, millennial venture capital firm looking to invest in diverse startups in the U.S. and Asia specifically.

This investment announcement comes after CTA announced a partnership with the Boys and Girls  of Greater Washington (BGCGW) in May to advance STEM learning and career development. As Technical.ly DC previously reported, CTA is also partnering with D.C.-based edtech company EVERFI to work with high school students in Las Vegas to help them learn entrepreneurial skills and pitch venture ideas at CTA’s annual trade show CES.

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