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Women Only Got 2.1% of VC Capital in 2022"
BLOOMBERG
2023
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Overall, Black entrepreneurs typically receive less than 2% of all VC dollars each year while companies led by Black women receive less than 1%, according to data from Crunchbase. "
CNBC
2023
Investing
Halcyon takes no equity from ventures during their fellowship. The addition of funding vehicles for Halcyon’s fellows and other impact-driven business founders comes as a result of Halcyon fellows sharing that funding is a major need.
So when founders are ready to scale, have a strategy for doing so, and know what kind of funding they’re looking for, Halcyon’s funding vehicles provide a range of structures for infusing capital into their ventures.
Our approach to funding
When
We de-risk investments by providing hundreds of hours of support for ventures before we consider investing. We get to know founders well during the course of their Halcyon fellowships, and founders are able to explore which funding vehicle might be a right fit for them given their venture’s stage and unique needs.
Why
All our funding vehicles are based on the hypothesis that impact-driven ventures have a competitive advantage compared to traditional businesses. Being grounded in impact makes these ventures stronger, more competitive investments.
How
Not every venture or founder needs the same capital – some founders are in a position to raise a friends and family round, while others are not. For some founders, venture capital is the right tool – for others it isn’t. Halcyon’s combination of funding vehicles support founders with a range of needs.
Funding Gaps
There is so much more research to be done around funding gaps that impact women founders, founders of color, and other underrepresented groups. Halcyon’s fellowship programs already provide nondilutive stipends to help narrow those gaps and funding vehicles allow us to extend that work.
Halcyon Venture Partners
In January 2024, Kate Goodall, Halcyon’s Co-Founder and former CEO, and Dahna Goldstein, Halcyon’s former CIO, launched the spin-off Halcyon Venture Partners (HVP), which continues to be a sister organization to Halcyon.
HVP is currently raising and deploying Halcyon Fund II. While Halcyon Fund II is fully controlled by HVP, Halcyon benefits from the new Fund in several ways: applicants to Halcyon see a breadth of offerings from the accelerator for potential investment, Halcyon fellows benefit from feedback and guidance from friendly and aligned investors, some Halcyon fellows will receive investment from Fund II, and more.
Halcyon Fund I
In February 2022 Halcyon closed a $5 million impact fund investing in Halcyon Fellows’ ventures. The Halcyon Fund launched with a portfolio of 13 investments and an average initial investment of $100,000.
Halcyon Angels
The Halcyon Angels are a sector-agnostic network of active angel investors who gather every other month to hear pitches from a curated group that includes both Halcyon Fellows and other impact-driven business founders.