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Andreessen Horowitz launches $2.2M fund to invest in underserved founders

Andreessen Horowitz announced today in a blog post that it is launching a fund designed to invest in underrepresented and underserved founders.
The Talent x Opportunity (TxO) fund, which a16z says was in the works for six months, starts with $2.2 million in donations from the firm’s partners. TxO will be invested in a small group of seed-stage startups the first year and expand in size going forward.
“We are looking for entrepreneurs who did not have access to the fast track in life but who have great potential. Their products can be non-tech or tech; they should be from underserved communities (all backgrounds welcome); and ideally, their business will have an interesting model, niche market, and/or a little traction to indicate the promise and potential,” the firm wrote in the post.
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