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Angel Reese Fulfills Her Dream Of Owning A Professional Sports Team — 'I’ve Always Had [A] Desire To Invest In A Local Team As A Maryland Native'

This is Angel Reese’s year, and we’re just living in it! According to The Athletic, Reese is officially a “professional sports owner” as she has joined the ownership group of DC Power Football Club, Washington, DC’s new professional women’s soccer team — which will begin competing in the USL Super League in summer 2024. “I want to help grow women’s sports and elevate female athletes across the board,” Reese said in a statement. “We’re taking over, and I’m honored to be able to support Power FC and invest in women’s soccer in the DMV community.” “Angel’s decision to be a founding investor alongside us in Power FC is groundbreaking,” D.C. United CEO and Co-Chairman Jason Levien added. “As a Maryland native, Angel is so passionate about being a catalyst for positive change in women’s sports in the DMV as well as globally, while inspiring the next generation of female athletes. We’re looking forward to her partnership in the boardroom as an equity partner.” As a native of Randallstown,...

May 22, 2024

Patrick Mahomes Ventures Into The Coffee Industry As A Lead Investor In Throne Sport Coffee

Kansas City Chiefs quarterback Patrick Mahomes has a new business venture to add to his ever-growing portfolio. According to Boardroom, the three-time Super Bowl champion is taking his love for coffee to higher heights as a lead investor for Throne Sport Coffee, a ready-to-drink coffee beverage company that was launched Thursday (May 16). Putting his money where his mouth is, not only did Mahomes attend a nice chunk of developmental and departmental meetings for the company, but he also had samples of the coffee sent to his home every two to four weeks in 2023 to ensure that he was able to help the Throne Sport family create a “tasty, healthy beverage with mass appeal to compete in a crowded market.” “There were a lot of samples sent and the season worked out well,” Mahomes said. “We won the Super Bowl, so it must have worked. We’ve come up with a great product, and I think people will really enjoy them throughout the entire day, not be jittery, and not be sluggish after the coffee...

May 16, 2024

Fanbase Has Kicked Off A $17M Equity Crowdfunding Campaign After Raising Over $10M From 3 StartEngine Campaigns

Fanbase is on a mission to get creators paid, and the company’s latest news is proof. According to information shared with AFROTECH™, the social media platform has officially reached its $10 million equity crowdfunding goal. It’s a historic feat as Fanbase Founder Isaac Hayes III is now reportedly the first Black man in history to raise this amount of money in a seed funding round on StartEngine in a Regulation Crowdfunding campaign. “We have a plan, and we’re going to be able to scale and build the business in real-time without having to stop and start and stop and start,” Hayes told Will Lucas on “Black Tech Green Money” podcast. “This is a scale-up opportunity because there are so many things that people want out of Fanbase, and I myself do not like to not be able to deliver on what I want to give to the community.” He added, “This raise is definitely putting us in a position to not only catch up to the current apps that are out there but surpass them because of my understanding...

May 8, 2024

Michael Jordan Adds Serena Williams And Michael Strahan To The Cincoro Tequila Ownership Team

NBA legend Michael Jordan is enlisting a team of athletic superstars as co-owners of his award-winning tequila company. In a press release shared with AFROTECH™, the NBA Hall of Famer has tapped Serena Williams, Derek Jeter, and a host of other athletes and sports enthusiasts as investors in his award-winning portfolio of luxury tequilas, Cincoro Tequila. “Cincoro has always been special to me because of the authentic friendships we’ve established around enjoying Cincoro and spending time together, designing it, experiencing it, and tasting it. We are constantly striving for greatness,” Jordan, co-founder of Cincoro Tequila, said. “And now that we’re welcoming in some of my closest friends to the business, I’m looking forward to this next era of Cincoro alongside this all-star team.” The company’s new ownership group, Team Cincoro, also includes RedBird Capital Partners Founder and Managing Partner Gerry Cardinale; The Lerner Family, owners of the Washington Nationals; former NFL...

May 2, 2024

After Landing Her Dream Job On Wall Street After College, Ashley M. Fox Built Empify Out Of A Desire to Become The Client And Help Others Do The Same

Ashley M. Fox has had dreams of working on Wall Street since she first decided to attend Howard University. Little did she know that this vision would soon propel her into entrepreneurship. After conquering what some would deem the inevitable, Fox not only became the first person in her family to attend and graduate college, but she also landed her dream career of working with one of the largest banks in the world. Still, there was a desire for more. “After about eight months at my job, I felt like I didn’t have the desire to be the best person on Wall Street, I wanted to be like the client,” Fox told A FROTECH™. “I realized that no matter how long I stayed in my Wall Street job, yes, I was making perfect money, but our clients had at least $25 million or more and I felt like I deserved to be on the other end of the table.”   View this post on Instagram   A post shared by Ashley M. Fox (@_ashleymfox) Fox built that table for herself and those who look like her through Empify. “The...

May 1, 2024

In 3 Years Since Joining The Utah Jazz Ownership Group, Dwyane Wade Has Watched Its Valuation Go From $1.75B To $3.46B

Never underestimate the power of a good hobby! Following his retirement from the NBA, Dwyane Wade, like many greats who have since left the league, picked up a new golfing habit, which ultimately led him to become a minority owner in the NBA team Utah Jazz. According to Boardroom, the move made in 2021 by Wade continues to get better with time. When he initially joined the ownership group, the former Miami Heat star saw the team at a valuation of $1.75 billion. Today that number has increased to $3.46 billion, per an April 16 Instagram post by Boardroom. “If people are doubting how far you can go, go so far that you can’t hear them anymore,” said Wade on social media at the time of the deal. “Second act activated.”   View this post on Instagram   A post shared by Boardroom (@boardroom) The Sporting News reports that the deal was made possible thanks to a friendship between the majority owner, Ryan Smith, and Wade that began on the golf course. Smith, a billionaire whose fortune was...

Apr 18, 2024

Black Tech Nation Ventures Reaches Final Close Of Its $50M Fund For Black- And Diverse-Led Startups

Black Tech Nation Ventures ( has officially crossed off a major goal that it set out to achieve.

Feb 28, 2024

This Nigerian Founder Has Raised $1M In Pre-Seed Funding For His Edtech Startup That He Began Building At Age 18

Persevering after a tragic event led this Nigerian founder to build a company from the ground up that fills a gap in the edtech market.

Feb 9, 2024

Meet Olamide Olowe, The Founder And CEO Who Raised Over $14M In Funding Before Age 26 For Her Viral Topicals Brand

If you’re active on social media, you’ve more than likely come across one of Topicals’ products. For one of its latest popular social marketing campaigns, the skincare company partnered with Black influencers for a brand trip to Ghana for “Detty December,” a time when people travel to Nigeria and/or Ghana to celebrate the holiday season. @topicals 10s across the board. #topicalsgonetoghana #freetheyouth ♬ original sound – ROMAN ZOLANSKI

Jan 23, 2024