Two black investors, Rodell Razor and Jeremiah Captain have launched an Investment firm to find, fund and fuel black entrepreneurs seeking access to capital to fund their ideas. X-Factor Capital plans to invest $100 million in black owned businesses across America over the next 10 years.
Private equity firm, X-Factor Capital, has embarked on a mission to level the playing field for black entrepreneurs in America who are unable to access capital to take their business ideas to the next level.
In 2016, the Center for Global Policy Solutions published a report showing that America was losing 1.1 million minority-owned businesses because of discriminatory practices towards companies owned by white males. As a result, experts believe that the country was losing approximately $300 billion and 9 million jobs. For decades the lack of access to capital has prevented many entrepreneurs from reaching their true potential. But things are about to change.
X-Factor Capital is offering a lifeline of investment to early-stage post revenue black-owned businesses seeking to secure funding to bring their ideas to life or expand their businesses. The firm offers access to capital funding, increased exposure, and access to the firm’s network of advisors to maximize their business ideas and potential.
Entrepreneurs Rodell Razor and Jeremiah Captain, are the masterminds behind X-Factor Capital. Explaining the motivation for launching the firm Razor, said:
“In the midst of the 2020 social injustice movement, Jeremiah and I were touring the country as speakers & consultants. After watching multiple murders on national television, we shifted our focus from climbing our own success ladder and knew we had to help our community. We called a few mentors, and asked how we could create a plan to invest into black entrepreneurs. Fortunately our advisory board, made up of seasoned venture capitalist, angel investors and big tech executives had the willingness to partner with us in this journey.”
“The average net worth of a white family in America is 10 times more than black families. But, If you look at properly funded Entrepreneurs, that number shrinks down to only 3 times.As we know, Black founders receive less than 1% of private equity/Venture Capital money”
X-Factor Capital is in its first phase of launching. Validating the business model, hosting pitch competitions/events for black entrepreneurs and building a foundation for the ecosystem. The firm has plans to invest $100 million in black entrepreneurs and black owned businesses over the next 10 years. This is projected to create 5,000 jobs.
Entrepreneurs can make their pitch to X-Factor Capital by visiting the company’s website, or follow the firm’s social media pages for updates on pitch competitions. For further information, visit: https://xfactor.capital. Follow X-Factor Capital on Instagram at https://instagram.com/xfactorcapital.