Conscious Venture Partners, based in Baltimore, Maryland, announced that Conscious Venture Fund II has raised $15.8 million of its $50 million goal.
Sagamore Ventures – the investment arm of Under Armor founder Kevin Plank – is leading local investments with a $2.5 million commitment to Conscious Venture Fund II. Other backers include recurring investor Point Field Partners, the investment arm of Baltimore Ravens owner Steve Bisciotti, with additional investments made by other top local investors including Brown Advisory, Capital Funding Group, Robb Merritt, Mary Miller and Guy Filippelli.
Final closing is expected to occur during the third quarter of 2022.
The Fund’s growth supports the emergence of Baltimore’s innovation ecosystem, particularly in the area of companies using innovations to create a more equitable or “Equitech” society.
Led by Jeff Cherry, Founder and Managing Partner, Conscious Venture Partners seeks minority and women-owned founders to invest in entrepreneurs who are using technology to break down barriers to access and create a more equitable society, especially in the areas of health, food, technology, media. , mobility and education.
Most companies funded by Conscious Venture Partners are graduates of its Conscious Venture Lab accelerator program. Local businesses interested in receiving funding are encouraged to apply for the next Conscious Venture Lab cohort here: https://www.f6s.com/cvlabcohort9. Applications for the current cohort are being accepted now.
Companies supported include Fearless Sports, a Baltimore-based social impact apparel company founded by Baltimore Business Journal Power 10 winner Delali Dzirasa; Outlook Enterprises, an East Baltimore-based digital production studio founded by ex-Baltimore Raven Trevor Pryce; and HeyZRO, a metaverse e-commerce platform.