Judge talks about his plan to raise and invest $150 million in underrepresented founders
SoftBank last week rebranded its Opportunity Fund to Open Opportunity Fund with the intent of opening the fund to other LPs and organizations to back minority entrepreneurs and startups. It also launched a second fund with a $150 million target.
For investor Paul Judge, who will co-own the fund along with SoftBank and serve as its chairman, the job is an opportunity to make a dent in the ecosystem.
However, we’ll need much more than $150 million to do that: Last year, Black founders only received 1% of all venture funding, a slight dip from the 1.3% raised the year before. Still, Judge is hopeful that he can help open the gates wider to underrepresented communities.
“One of the problems in Silicon Valley, traditionally, it’s been about who you know,” he told