In a move amplifying its commitment to diverse-led innovation, Truist Ventures has joined forces with Mendoza Ventures, injecting support into its $100 million Early Growth Fintech Fund. The partnership marks Truist Ventures as the third major financial institution backing Mendoza Ventures, alongside Bank of America and Grasshopper Bank.
Mendoza Ventures, founded by a dynamic team of female and Latinx entrepreneurs, unveiled its third fund in January, with a strategic focus on nurturing early growth-stage startups championing diversity. Truist Ventures’ investment solidifies not only a financial partnership but sets the stage for active collaboration, knowledge exchange, and the pursuit of positive social change.
Adrian Mendoza, General Partner at Mendoza Ventures, expressed enthusiasm about the collaboration, stating, “Our vision has always been to redefine how venture funds collaborate with financial institutions to support portfolio companies strategically. Truist Ventures’ support validates our approach and empowers us to create substantial outcomes for diverse-led startups and investors alike.”
This strategic investment not only fosters a stronger alliance between Truist Ventures and Mendoza Ventures but lays the groundwork for a collective effort to drive external innovation, promote knowledge exchange, and contribute to the positive transformation of the fintech landscape.
“Mendoza Ventures supports innovative, early-stage companies that are shaping the future of finance,” said Tarun Mehta, Head of Corporate Development and Truist Ventures. “This partnership fuels our shared ambition to drive advancements and increase inclusion in the broader fintech industry.”
Mendoza Ventures recently launched a new non-profit initiative called Mendoza Impact, which aims to provide early-stage diverse founders with greater access to capital and educational resources. By addressing gaps in funding and knowledge, Mendoza Impact seeks to empower a new generation of diverse entrepreneurs.
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