Now one of the largest Black-led venture firms by assets, Base10 raises $250 million second fund

Two years after closing their debut fund of $150 million, Base10 co-founders Adeyemi Ajao and TJ Nahigian, are back with a $250 million investment fund and a sense of vindication for their thesis of investing in startups making automation for the people.
For Ajao, an immigrant who spent grew up in Nigeria and Spain before moving to the US, the new fund is a confirmation that even without having an explicit focus on minority investments, it’s possible to create a portfolio led by a diverse mix of founders. Indeed, roughly 60 percent of the firm’s investments have been into companies led or co-led by women or minority founders.
“We might be minority-led but we are not minority focused,” said Ajao, in an interview. “We’re targeting industries that are big problems for the 99 percent so we hope the portfolio will reflect the diversity of the 99 percent.”
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