Camelback Ventures Invests $450,000 in Women and Entrepreneurs of Color Creating Social Impact
Nonprofit Fellowship Program Closing the Gap in Access for Social Entrepreneurs with Early-Stage Education Startups
New Orleans, LA, December 18, 2015 --(PR.com)-- On a mission to diversify social innovation, Camelback Ventures (CBV) has awarded nearly half a million dollars to its first cohort of fellows, eleven distinguished social entrepreneurs from traditionally underrepresented backgrounds. Within the inaugural cohort, 91% of fellows identify as people of color and 73% as women. Their education startups focus on creating educational opportunities in Camelback’s five priority regions: Chicago, New Orleans, New York, Oakland, and Washington, D.C. The organization estimates this year’s cohort will impact over 16,000 students across the country.
During the nine-month program, each Camelback Ventures’ Fellow received one-on-one weekly coaching sessions, access to critical connections and networking opportunities, and up to $40K in seed-funding.
“We gave our fellows the foundation they needed to build upon,” said Aaron Walker, Founder and CEO of Camelback Ventures. “As a result of Camelback’s impact investment model - ‘coaching, capital and connections’ - our fellows have raised more than $2MM collectively in less than nine months. That means for every $1 we invested in them, they were able to raise another $4.”
Last month, the New Orleans-based nonprofit celebrated the culmination of its inaugural 2015 fellowship class in San Francisco at #CBV2015 Demo Day. At the event, Fellows pitched their ventures to more than 60 education influencers, potential investors and industry peers.
“Camelback is akin to the ‘friends and family’ funding round that every startup needs to get off the ground,” said event attendee supporter Brian Dixon, partner at Kapor Capital. “The benchmark is more difficult to reach for people with less access to social and financial capital, particularly women and people of color. Camelback is closing that gap in access and developing the next generation of leaders.”
“Camelback Ventures is building a resilient network of social innovators and education champions,” said 2015 Fellow Jacob Allen, Co-Founder of PilotEd Schools in Chicago. “The CBV fellows are ending economic inequality by creating educational opportunities in their hometowns. I’m proud to serve that movement, and I’m proud to be a part of the Camelback Family.”
In only one year since inception of the fellowship program, the organization saw an increase of 120% in applications for the 2016 cohort. On November 3, the organization announced 31 semifinalists selected from the pool of applicants. The selection committee will formally announce the 2016 Camelback Fellowship cohort in early January.
Media Contact:
Danielle Chase
Director of Communications
media@camelbackventures.org
504-408-1730
About Camelback Ventures
At Camelback Ventures, our mission is to create a more diverse social innovation ecosystem that leverages the genius of all participants. We do this by identifying new leaders with bold ideas and providing them the necessary resources to maximize their social impact. Our model for integrated investing is threefold: coaching, capital and connections. Over the last two years we have supported 14 social entrepreneurs—92% identify as people of color and 71% as women. The Camelback Ventures’ Fellows have received recognition from many prestigious institutions, among them: Aspen Institute, Draper Richards Kaplan, Echoing Green, Penn GSE, Teach For America and Yale School of Management. Camelback will launch its next cohort in February 2016 partnering with the Kapor Center, NewSchools Venture Fund, the Nieves Gunn Charitable Fund and Walton Family Foundation.
During the nine-month program, each Camelback Ventures’ Fellow received one-on-one weekly coaching sessions, access to critical connections and networking opportunities, and up to $40K in seed-funding.
“We gave our fellows the foundation they needed to build upon,” said Aaron Walker, Founder and CEO of Camelback Ventures. “As a result of Camelback’s impact investment model - ‘coaching, capital and connections’ - our fellows have raised more than $2MM collectively in less than nine months. That means for every $1 we invested in them, they were able to raise another $4.”
Last month, the New Orleans-based nonprofit celebrated the culmination of its inaugural 2015 fellowship class in San Francisco at #CBV2015 Demo Day. At the event, Fellows pitched their ventures to more than 60 education influencers, potential investors and industry peers.
“Camelback is akin to the ‘friends and family’ funding round that every startup needs to get off the ground,” said event attendee supporter Brian Dixon, partner at Kapor Capital. “The benchmark is more difficult to reach for people with less access to social and financial capital, particularly women and people of color. Camelback is closing that gap in access and developing the next generation of leaders.”
“Camelback Ventures is building a resilient network of social innovators and education champions,” said 2015 Fellow Jacob Allen, Co-Founder of PilotEd Schools in Chicago. “The CBV fellows are ending economic inequality by creating educational opportunities in their hometowns. I’m proud to serve that movement, and I’m proud to be a part of the Camelback Family.”
In only one year since inception of the fellowship program, the organization saw an increase of 120% in applications for the 2016 cohort. On November 3, the organization announced 31 semifinalists selected from the pool of applicants. The selection committee will formally announce the 2016 Camelback Fellowship cohort in early January.
Media Contact:
Danielle Chase
Director of Communications
media@camelbackventures.org
504-408-1730
About Camelback Ventures
At Camelback Ventures, our mission is to create a more diverse social innovation ecosystem that leverages the genius of all participants. We do this by identifying new leaders with bold ideas and providing them the necessary resources to maximize their social impact. Our model for integrated investing is threefold: coaching, capital and connections. Over the last two years we have supported 14 social entrepreneurs—92% identify as people of color and 71% as women. The Camelback Ventures’ Fellows have received recognition from many prestigious institutions, among them: Aspen Institute, Draper Richards Kaplan, Echoing Green, Penn GSE, Teach For America and Yale School of Management. Camelback will launch its next cohort in February 2016 partnering with the Kapor Center, NewSchools Venture Fund, the Nieves Gunn Charitable Fund and Walton Family Foundation.
Contact
Camelback Ventures
Danielle Chase
504-408-1730
http://www.camelbackventures.org
Danielle Chase
504-408-1730
http://www.camelbackventures.org
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