Summary:
Melissa Bradley is closing 1863 Ventures after 8 successful years.
The organization aimed to create $100 billion in wealth for Black and brown entrepreneurs.
90% of its portfolio consisted of Black-owned businesses.
Seeking a partner to manage its $7 million investment pool.
Launching New Majority Ventures as a for-profit entity to address gaps in support for founders.
A New Chapter for Melissa Bradley
Melissa Bradley is turning a new leaf! Since 2016, she has been the proud founder of 1863 Ventures, based in Washington, DC. This organization has been dedicated to providing business development programs, coaching, mentorship, and access to capital for new entrepreneurs, predominantly focusing on Black and brown founders. As highlighted in previous reports, the venture aimed to create $100 billion in wealth for the “New Majority.”
Achievements and Portfolio
1863 Ventures boasts a portfolio where 90% of the businesses are Black-owned, including notable names such as:
- Nubian Heumann
- Eu’Genia Shea
- Harlem Candle Co.
- The Black Girl Doctor
Transition Announcement
After eight impactful years, the Washington Business Journal reported that the board of 1863 Ventures has decided to close its nonprofit arm, which primarily focused on early-stage companies. Currently, Melissa Bradley is seeking a partner to take on the ownership of its portfolio companies, which benefited from an investment pool exceeding $7 million.
Bradley views this transition not as a failure but as an opportunity to evolve. She recognizes the need for a more sustainable structure to support the growth of the New Majority founders. She stated, “We’re no longer lacking technical assistance or training programs for Black founders. What we’re lacking is a level of credibility and sustainability.”
New Ventures Ahead
Looking forward, Bradley is in the process of establishing a new organization, New Majority Ventures, which will operate as a for-profit entity. This new venture aims to fill the gaps identified during her time with 1863 Ventures, focusing on collaboration with larger institutions that can support entrepreneurs through their next stages of growth.
She emphasizes that the goal is not merely to create another program but to leverage years of research, evidence, and data to truly enhance the entrepreneurial landscape. “Our best contribution cannot be another program that a bunch of entrepreneurs go through,” she noted, indicating a thoughtful approach to fostering sustainable growth for founders.
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