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Will Smith and Kevin Durant are reportedly backing a brand-new Andreeseen Horowitz fund aimed at black celebrities

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  • Andreessen Horowitz is launching a new $15 million venture fund backed by black celebrities, according to the Wall Street Journal.
  • Will Smith, Kevin Durant, and Sundial Brands CEO Richelieu Dennis have reportedly already signed on as limited partners to the fund.
  • Andreeseen Horowitz will reportedly donate investment returns toward nonprofits that aim to spur the black community’s engagement in tech.

Silicon Valley venture firm Andreessen Horowitz has launched a new fund that will partner exclusively with black celebrities, athletes, and media figures, according to the Wall Street Journal.

Already, the firm has secured high-profile backing from actor Will Smith, NBA star Kevin Durant, and the founder of beauty line Sundial Richelieu Dennis, the Journal reports.

The $15 million fund, which will reportedly operate alongside Andreessen Horowitz’s $1.5 billion fund, won’t function like a traditional venture fund; instead, investment returns will go towards nonprofits that aim to spur the black community’s engagement in tech.

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Dacapo’s Hot New Single “Remember” | Available on iTunes, Spotify, Amazon, Tidal

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Octavia Spencer & LeBron James Team Up for Netflix Series About Madam C.J. Walker

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Netflix continues to be a purveyor of diverse programming. It has purchased a new limited series co-produced by Oscar winner Octavia Spencer and NBA baller LeBron James announced it will be partnering with the pair on a new show starring Spencer based on the life of the first self-made female millionaire in America, Madam C.J. Walker, according to Variety.

The eight-episode series will be based on the book On Our Own Ground by A’Lelia Bundles, Walker’s great-great-granddaughter, who will also serve as a consultant for the show.

Read more by Jessica Bennett @ Ebony.com

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