Dreamward Ventures, founded by Evan Poncelet and Jesse Posey, is a Seattle-based emerging fund that aims to invest in diverse founders, specifically focusing on supporting early stage startups led by Black entrepreneurs. These co-founders are looking to address the significant disparities in venture capital funding for Black entrepreneurs and investors, with Black-founded startups receiving less than 0.5% of venture funding in the U.S. last year. Through their fund, Poncelet and Posey want to use their industry connections to help connect Black founders with potential funding opportunities, either through Dreamward or other avenues.
Poncelet and Posey met at a Seattle Angel Conference event and were inspired to take action to bridge the gaps in venture capital for Black founders and investors. With their background in technology and investment, the co-founders are leveraging their expertise to provide technical due diligence for startups that need expert evaluation of their platforms. They are also involved in initiatives such as the Washington State Black Angel Network and the Black Founders and Funders group to increase the number of Black angel investors and venture investors in the tech ecosystem.
Dreamward Ventures is committed to supporting startups coming out of the Pacific Northwest, while also being open to opportunities beyond the region and across various sectors. By offering a platform for Black founders to access funding and mentoring, Poncelet and Posey are actively working to make the startup and venture capital landscape more diverse and inclusive. Their goal is to help build a more equitable and representative tech sector by connecting diverse individuals and resources within the ecosystem.
Poncelet, with a background in engineering and technology roles at companies like Cisco and Fluke Networks, brings a wealth of experience to Dreamward Ventures. Posey, with experience in investments at Nodes Advisors AG and other companies, is equally passionate about increasing diversity and representation in the VC world. Together, they are focused on expanding opportunities for Black founders and investors through their fund and network initiatives, such as the Washington State Black Angel Network and BLCK VC.
Dreamward Ventures is hosting a pitch event on June 8 in Bellevue, Washington, featuring startups led by Black founders. This event is part of their commitment to showcasing and supporting diverse talent in the startup community. The co-founders hope that by providing access to funding and mentorship, they can help Black entrepreneurs thrive in the tech industry and contribute to a more inclusive and equitable ecosystem. Through their efforts, Poncelet and Posey are actively working towards creating a more diverse and representative future for tech startups and venture capital.
