Backstage Capital receives $1M investment from Comcast
Backstage Capital is excited to announce Comcast as the latest investor in Opportunity Fund I. Comcast has committed $1 million to support Backstage’s mission of funding underestimated founders.
“We are excited to partner with Comcast as an investor in our newest fund,” Brittany Davis, a general partner at Backstage Capital, said. “We hope their investment causes other organizations to take note and take their lead. Comcast’s capital will have a huge and direct impact on the founders we support and ultimately goes toward increasing equity within the innovation ecosystem.
Backstage has been investing in underestimated founders since 2015. Since then, the firm has built one of the largest portfolios of underrepresented founders in venture capital by investing in nearly 200 startups to date.
Danielle Cohn, vice president of startup engagement and head of LIFT Labs at Comcast NBCUniversal, said the partnership will “help fuel strategic investments among a diverse startup ecosystem and our future innovation pipeline.”
Late last year, Backstage saw one of its first true exits when Coolhaus sold to The Urgent Company. Then, in February, Career Karma, a Backstage Capital portfolio company, announced a $40 million Series B round.
Backstage Capital made its first investment in Career Karma back in 2018 with a $25K check from a $1.25 million fund. Its latest raise, which Backstage participated in, returned two-thirds of Backstage Capital’s fund.
As Backstage Capital founder Arlan Hamilton previously said, the exits from Backstage Capital’s portfolio companies “will be like popcorn, with an exit here, then a few weeks later, there, etc.”
We expect to close Opportunity Fund I by the end of the year. Interested investors can learn more here.