Richelieu Dennis Creates a Multi-Million Dollar Investment Fund for Female Minority Entrepreneurs
Many of you may not be familiar with Richelieu Dennis, but there’s a good chance that you’re familiar with products that he’s created or worked with. Dennis is the Liberian co-founder of Sundial Brands including the well known and slightly controversial brand, Shea Moisture, who also recently purchased Essence Communications (Essence Magazine and Essence Fest). Richard recently announced the launch of another new venture called the New Voices Fund. The New Voices Fund is created in partnership with Unilever, and is a $100 million fund geared towards investing in minority women. This fund is particularly important, considering that black women have traditionally made up the smallest percentage of venture capital funds awardees, in the ever growing startup space. So far, the fund has already invested 30 million dollars in companies like the black-owned Beauty Bakerie, Mented, the Lip Bar, and Beautycon.