Impact X

Impact X Capital is a venture capital firm which looks to invest in underrepresented entrepreneurs from across Europe. Impact X Capital was started by Eric Collins. Its initial founding members include Ursula Burns, Ric Lewis and Lenny Henry.

Impact X Capital
TypePrivate Ownership, Limited partnership
IndustryVenture capital
Founded2018 (2018)
FounderEric D. Collins
HeadquartersLondon,
United Kingdom
Key people
Ursula Burns
Lenny Henry
Ric Lewis
ProductsInvestments
Total assets£100 million
Websitewww.impactxcapital.com

History

Impact X Capital was started in 2018 by Eric Collins. Its initial founding members include Ursula Burns, Ric Lewis and Lenny Henry.[1][2] The venture capital (VC) fund was inspired by the lack of investment in companies led by people from underrepresented communities, with a particular focus on people of colour and women.[3][4] At the time they were founded, less than 4% of VC funding went to teams led by women, and less than 1% to people of colour.[2][5] As of December 2019, Impact X was raising a fund of over £100 million to invest in minority-led businesses.[6][7]

Team

The chief executive officer is Eric Collins,[8] a tech entrepreneur and investor who previously served on Barack Obama's Small Business Administration's Council on Underserved Communities.[9][10] Principal investor, Yvonne Bajela, was selected as one of Forbes 30 Under 30 in 2020.[11] In April 2020 Paula Groves, founding partner, was selected as one of Europe's most influential women in venture capital.[12][13] Principal investor and chief technology officer, Ezechi Britton was awarded ITA's venture capitalist of the year in 2019[2][14][15]

Major investments

One of the first Impact X Capital investments was Predina, a smart navigation software which looks to prevent road traffic accidents.[1] Predina was founded by Bola Adegbulu and Meha Nelson, and makes use of artificial intelligence to predict the safest routes for any car journey.[5]

References
  1. Makortoff, Kalyeena (2019-11-16). "'We want to find gems': the black venture capitalists invested in change". The Observer. ISSN 0029-7712. Retrieved 2020-05-30.
  2. "£100 million for UK black businesses". Voice Online. 2019-12-30. Retrieved 2020-05-30.
  3. "Meet Ric Lewis: The fun-loving property tycoon". Evening Standard. 2020-03-20. Retrieved 2020-05-30.
  4. Mararike, Shingi. "Why are there so few black millionaires on the Rich List 2020?". ISSN 0140-0460. Retrieved 2020-06-05.
  5. "Black VC investor 'Impact X' – why people of colour and women founders in Europe are ripe for funding". www.iamnewgeneration.co.uk. Retrieved 2020-05-30.
  6. "London VC Fund Impact X Has 100 Million Pounds to Jump Start Minority-Led Businesses". www.bloomberg.com. Retrieved 2020-05-30.
  7. "Episode 62: From raising over £200m to becoming a VC and trying to solve the "pipeline" problem with Ezechi Britton Principal at Impact X Capital and Co-founder of Neyber by Startup HandMeDowns • A podcast on Anchor". Anchor. Retrieved 2020-05-30.
  8. Hurley, James. "Access to finance is a diversity issue". ISSN 0140-0460. Retrieved 2020-06-05.
  9. "Eric Collins". Retrieved 2020-05-30.
  10. Anwar, Shiraz (2020-02-03). "Eric D. Collins". Retrieved 2020-05-30.
  11. "Yvonne Bajela". Impact. Retrieved 2020-05-30.
  12. Tucker, Charlotte (2020-04-08). "TOP 50: Europe's most influential women in the startup and venture capital space". EU-Startups. Retrieved 2020-05-30.
  13. "Impact X Team". Impact. Retrieved 2020-05-30.
  14. "Episode 62: From raising over £200m to becoming a VC and trying to solve the "pipeline" problem with Ezechi Britton Principal at Impact X Capital and Co-founder of Neyber by Startup HandMeDowns • A podcast on Anchor". Anchor. Retrieved 2020-05-30.
  15. "ITA Awards 2019 Winners". Inclusive Tech Alliance. Retrieved 5 June 2020.
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