In a recent move, SoftBank sold its Open Opportunity Fund to its chairman and managing partner, Paul Judge, and Marcelo Claure, who is to be appointed the fund’s vice-chairman and general partner. This groundbreaking shift is seen as a substantial milestone, demonstrating a concrete move towards more inclusive representation within all layers of the venture capital ecosystem.
The Open Opportunity Fund: A Brief History
Earlier this year, SoftBank rebranded its Opportunity Growth Fund, bringing it under the new name of Open Opportunity Fund (OOF). Paul Judge, who was then appointed as chairman, also became a co-owner of the fund. Marcelo Claure, the initial launcher of OOF, had served as SoftBank’s COO up until 2022 and is making a return to work with the fund after a year-long hiatus.
“Marcelo brings a wealth of experience and a vast network that can help our portfolio companies. Marcelo’s extensive network of Latino entrepreneurs significantly enriches our deal flow within this vibrant community,” Judge said.
Significant Contributions
Fund 1, which is now owned by Judge and Claure, deployed $100 million in 75 Black and Latino companies, yielding seven exits and 46 follow-on rounds. SoftBank will continue to be an LP in Fund 2, and according to Claure, the fund is on the lookout for investors seeking to drive more diversity in the tech ecosystem, and who “value the importance of supporting underrepresented entrepreneurs.”
The Future of the Funds
Fund 2, which was launched earlier this year, will also increase its target to $200 million. This fund will invest in 50 pre-seed to growth-stage companies in fintech, health tech, edtech, sales and marketing, and enterprise IT. It should be noted that companies from Fund 1 may also receive funding from Fund 2 on a case-by-case basis, as stated by Judge.
Why Diversity Matters
“We believe the Black and Latino founder market is an untapped source of outsized returns and this focus allows us to find alpha that other VCs have overlooked,” Judge said. “The strong performance of Fund I proves that thesis works.”
This move is not just a significant milestone for SoftBank, but also a giant leap for the venture capital ecosystem. With more diverse representation in the higher echelons of venture capital firms now, the future of the tech ecosystem looks promising indeed, with greater support for underrepresented entrepreneurs.
The world of venture capital can often be complex and difficult to navigate, particularly for underrepresented entrepreneurs. However, with moves such as these from giants like SoftBank, the future of entrepreneurship and innovation looks bright indeed.
A wave of newness is rippling through the music industry, spearheaded by the entrepreneurial spirit of D’Anthony Bly, often recognized as “D Bly”. A champion for fresh talent and longtime manager for the sensational Coi Leray, Bly has embarked on an exciting journey with the launch of his novel management company, 11 11 Management.
A New Chapter Begins
The Boston-born entrepreneur is no stranger to the industry. Having grown up with Leray, Bly has been instrumental in shaping her brand and expanding her repertoire. The platinum hit “Players”, along with other successful singles like “No More Parties”, “Big Purrd”, “Twinnem”, and “Blick Blick” featuring Nicki Minaj, are all testament to their fruitful collaboration.
11 11 Management is set to retain Leray as a client, a move that only strengthens their bond and mutual dedication. The goal? To scout and nurture up-and-coming talent, propelling them to the next level in their creative journeys.
“Everything about this is new. We aren’t following any formulas or algorithms, but we’re finding talent we believe in and taking it to the next level.” – D’Anthony Bly
Building Brands and Breaking Barriers
While helping artists build their brand, Bly also focuses on forming strategic alliances with renowned industry players. Under his careful stewardship, Leray scored a spot on the “Spider-Man: Across the Spider-Verse” soundtrack, and developed partnerships with high-profile brands like Meta, YSL, Marc Jacobs, and Fendi.
His vision doesn’t stop at music. Bly is currently assisting Leray in establishing her very own production company, “Trendsetter Studios”, further broadening her influence in the entertainment industry.
A Longstanding Partnership
Leray’s faith in Bly is unwavering. In a heartfelt statement, she expressed her gratitude for his continuous support.
“I wouldn’t want to be in this industry without D Bly. He has opened so many doors for me and has been in my corner since the very start. He is truly a star quality manager. We are really here forever, this about longevity.” – Coi Leray
Creating Safe Spaces in the Music Industry
Bly’s dedication extends beyond the realm of music. He’s committed to championing women in the industry and fostering an environment where talent feels heard, respected, and most importantly, safe. This initiative resonates strongly with Gina Greiss, 11 11 Management’s general manager.
“Working with D Bly has given me the opportunity to experience the music industry in an innovative way. His ability to master any given task has changed the way we perceive entrepreneurship in music.” – Gina Greiss
Conclusion
D’Anthony Bly’s launch of 11 11 Management signals a fresh direction in talent management. His commitment to building brands, empowering artists, and fostering safe environments is not only redefining industry standards but also setting a solid foundation for the future of music.
This article is just the beginning. Stay tuned as we delve deeper into Bly’s remarkable journey and the exciting developments at 11 11 Management.
The city that never sleeps has long been a breeding ground for legends, and few embody the spirit of New York City more than Sean Combs, known to the world as Diddy. The music mogul, entrepreneur, and philanthropist has been a fixture in the city’s cultural landscape for decades. Recently, he was honored in a ceremony that recognized his lasting impact on his hometown.
Diddy’s Journey: From Harlem to The Heights of Fame
Born in Harlem in 1969 and raised in Mount Vernon, Diddy’s rise to fame is a testament to the city’s transformative power. His journey began in the bustling streets of New York, where he honed his craft and developed a passion for music that would propel him to the pinnacle of the industry.
Despite his global fame, Diddy has always held a deep connection to New York, frequently expressing his love for the city and attributing his success to the lessons he learned during his formative years in Harlem.
Diddy’s Arrival on The Music Scene
Diddy’s breakthrough came in the mid-1990s when he established Bad Boy Entertainment, a record label that would become a powerhouse in the music industry. With artists like The Notorious B.I.G., Faith Evans, and Mase, Bad Boy quickly became synonymous with the city’s vibrant hip-hop scene.
Despite the success, Diddy never rested on his laurels. He continuously reinvented himself, transitioning from producer to rapper, and later, to business tycoon and philanthropist. His diverse ventures only enhanced his standing in the industry, solidifying his reputation as a multi-faceted talent.
The Love Album: A Return to Music
After a hiatus that lasted more than a decade, Diddy made a triumphant return to music in 2023 with the release of “The Love Album.” The album, his first since 2006’s “Press Play,” was met with critical acclaim and commercial success, proving that Diddy’s influence on the music scene remained as strong as ever.
“The Love Album” showcased Diddy’s ability to collaborate with a diverse array of artists, from established stars like The Weeknd and Justin Bieber to emerging talents such as Burna Boy and Swae Lee. The album’s success reaffirmed Diddy’s status as a visionary talent who continues to shape the music landscape.
A Key to The City: Recognition of Diddy’s Impact
In recognition of his contributions to music and his philanthropic efforts, Diddy was presented with a key to New York City by Mayor Eric Adams. The ceremony took place in the heart of the city, Times Square, symbolizing Diddy’s central role in the city’s cultural fabric.
In his speech, Mayor Adams praised Diddy’s resilience, ambition, and dedication to giving back to his community. He highlighted Diddy’s work in supporting underserved communities and fostering the next generation of Black entrepreneurs.
Diddy’s Response: A Promise to Continue Giving
Upon receiving the key, Diddy expressed his gratitude and vowed to continue his philanthropic efforts. He accepted the honor on behalf of “every dreamer, every hustler, every artist, and every kid from New York who dares to dream big.”
Diddy’s promise to keep giving back to the city that nurtured him serves as a reminder of his enduring commitment to his roots. It also underscores his belief in the transformative power of music and the opportunities it can provide for aspiring artists.
Diddy’s Legacy: A Blueprint for Success
Diddy’s story serves as a blueprint for success, demonstrating the power of determination, creativity, and a strong work ethic. His journey from the streets of Harlem to the heights of fame is a testament to his talent, vision, and relentless drive. But perhaps more importantly, it’s a testament to the city that shaped him, and to which he remains deeply devoted.
Conclusion
As Diddy continues to influence the music industry and give back to his community, the key to New York City serves as a fitting symbol of his enduring impact. It’s a recognition of his contributions to the city’s cultural landscape and a testament to his status as a true New York legend.
Jay-Z, the iconic music artist, has been an influential figure in the music industry for decades. From his early days as a rapper to his success as an entrepreneur and philanthropist, Jay-Z’s story is a testament to the power of determination and creativity. Now, his legacy is being celebrated in a grand exhibit called the Book of HOV, which has recently opened at the Brooklyn Public Library in collaboration with Roc Nation.
A Labor of Love and Collaboration
The Book of HOV is a 40,000-square-foot exhibit that takes full advantage of the Brooklyn Public Library’s Grand Army Plaza branch. The exhibit, crafted in collaboration with Roc Nation, showcases the life and career of Jay-Z through six distinct zones. The front of the library is wrapped with his lyrics, creating an eye-catching display for visitors.
The exhibit was unveiled at a star-studded pre-opening party attended by Jay-Z, Beyoncé, and their loved ones, along with famous friends. The event featured a jazzy medley of Jay-Z hits performed by a band, adding to the excitement and anticipation surrounding the exhibit. While the surprise element may have been slightly compromised by speculative reports leading up to the event, the exhibit remains a worthy celebration of the music icon.
A Uniquely Brooklyn Story
Linda Johnson, CEO of the Brooklyn Public Library, emphasizes that the Book of HOV is not only a celebration of Jay-Z but also a testament to the cultural richness of Brooklyn. She believes that the exhibit will attract new visitors to the library, including young people who may not be familiar with the wide range of services offered. Johnson states, “JAY-Z’s story is a uniquely Brooklyn story, and it’s a privilege to host this exhibit created as a labor of love by Roc Nation and the people who’ve known and worked with him over the years.”
In addition to the exhibit, the Brooklyn Public Library announced the release of limited-edition library cards commemorating each of Jay-Z’s 13 solo albums. This unique collaboration between the library and Roc Nation aims to further engage the community and encourage patronage of the library’s services. Johnson highlights that patrons can not only borrow books but also vinyl records, musical instruments, sheet music, and even utilize the recording studio to create their own music or podcast.
Exploring the Book of HOV Exhibit
The Book of HOV exhibit features thousands of artifacts from all over the world, curated with the help of Roc Nation CEO Desiree Perez’s extensive collection. Perez had long desired to create a gallery showcasing her souvenirs, and the collaboration with the Brooklyn Public Library offered the perfect opportunity. The exhibit includes physical music reels, plaques, magazines and newspapers, concert setlists, rare photos, and one-of-a-kind artifacts like the guitar Jay-Z played at Glastonbury 2008, a defiant response to Noel Gallagher’s anti-rap comments.
The exhibit is divided into six zones, each named after a Jay-Z lyric, offering a thematic and investigative approach to his life and career. The non-linear structure allows visitors to explore different aspects of Jay-Z’s journey, rather than following a strict chronological order. The design process involved extensive research, including conversations with Jay-Z’s close friends and business peers, to gain insight into the various themes that would be explored.
The Six Zones of the Book of HOV
Did It Without A Pen: This zone fills the library’s record room with 400 books that Jay-Z referenced throughout his career. It also showcases vinyl records of songs his producers sampled from, all available for borrowing.
Win-Win: Highlighting Jay-Z’s philanthropic efforts, this zone explores his charitable endeavors and the impact he has made on communities.
Business, Man: Focusing on Jay-Z’s entrepreneurship, this zone documents his ventures beyond the music industry, including his successful forays into fashion, sports management, and other business ventures.
So Fly: Transformed into a paper plane palace, the library’s children’s space hosts this zone. Over 600 Brooklyn youth have designed custom paper planes, symbolizing the soaring aspirations and creativity fostered by Jay-Z’s music.
HOV Did That: This sprawling mezzanine features rare photos and a blue-lit room filled with retro clips of Jay-Z discussing various topics that later manifested in his career.
A Work of Art Already: This zone immerses visitors in the Black Album era, with large screens playing clips from that period and a life-size replica of Roc-A-Fella’s Baseline studios, where many of Jay-Z’s iconic tracks were recorded.
The Design Process and Collaboration
The design process for the Book of HOV exhibit took approximately six months, with the creative team at General Idea Agency leading the way. They worked closely with Roc Nation, the Brooklyn Public Library, and other production and design firms to bring the vision to life. The goal was to create an immersive and visually captivating experience for visitors while seamlessly integrating the exhibit into the existing space of the library.
Collaboration between Roc Nation and the library was key to the success of the project. The library provided invaluable support and contributed to the process, ensuring that the exhibit aligned with their mission and values. Both Linda Johnson, CEO of the Brooklyn Public Library, and the design team at General Idea Agency acknowledge the library’s instrumental role in making the exhibit a reality.
A Privileged Experience
While the public eagerly awaits Jay-Z’s reaction to the Book of HOV exhibit, one can only imagine the impact it will have on him. Scott Mirkin, the lead producer of ESM Productions, who has been involved in the installation of the exhibit since March, believes that Jay-Z’s smile will be a testament to the success of the exhibit. Mirkin notes that Jay-Z is often seen smiling and expresses his confidence that the exhibit will provide him with an amazing feeling.
The Book of HOV exhibit is not only a celebration of Jay-Z’s accomplishments but also an opportunity for the community to engage with his legacy. Through the collaboration between Roc Nation and the Brooklyn Public Library, visitors can explore the multifaceted journey of a music icon who has left an indelible mark on the world. It is an experience that transcends the boundaries of music and invites individuals to discover the power of passion, creativity, and perseverance.
As the Book of HOV continues to captivate audiences, it serves as a reminder that the library is not just a place for books but a hub of knowledge, inspiration, and creativity. The exhibit encourages young people to explore the library’s diverse offerings and discover their own passions, much like Jay-Z did on his path to success. With the limited-edition library cards commemorating each of his 13 solo albums, the collaboration between Jay-Z and the Brooklyn Public Library is destined to leave a lasting impact on both the community and the music industry.
So, if you find yourself in Brooklyn, make sure to visit the Brooklyn Public Library and immerse yourself in the extraordinary journey of Jay-Z, as told through the inspiring pages of the Book of HOV.
In a heartwarming act of community service, an Alabama mother’s pride turned into shock and sadness when her 8-year-old son’s lemonade stand became the target of a report to the state labor department. Cristal Johnson, the devoted mother, expressed her disappointment over the incident, emphasizing her intention to make a positive impact on the community through her child’s entrepreneurial endeavor.
Cristal Johnson shared her sentiments about the unexpected turn of events surrounding her son’s lemonade stand. The young entrepreneur’s initiative was driven by a desire to give back to the community and spread joy through his refreshing lemonade. However, to Johnson’s surprise, someone reported the lemonade stand to the state labor department, casting a shadow over their noble intentions.
The incident left Johnson feeling shocked and saddened, as she had hoped to instill valuable lessons of entrepreneurship, hard work, and community spirit in her son. Lemonade stands have long been a cherished symbol of childhood innocence and an opportunity for young individuals to learn important skills such as money management and customer interaction.
Despite the setback, Johnson remains resilient and determined to overcome this obstacle. She believes that the incident highlights the need for a broader understanding and support for young entrepreneurs, encouraging them to explore their creativity and develop their business acumen.
The lemonade stand incident serves as a reminder of the challenges faced by young individuals who aspire to make a positive impact in their communities. Johnson’s hope is that this experience will spark conversations about the importance of fostering a supportive environment for young entrepreneurs, empowering them to pursue their dreams and contribute to the betterment of society.
As the Alabama mother continues to support her son’s entrepreneurial spirit, she remains committed to teaching him valuable life lessons that extend beyond a simple lemonade stand. Johnson’s unwavering dedication to her child’s growth and the well-being of their community stands as a testament to the resilience and determination of parents who strive to instill positive values in their children.
The incident involving the lemonade stand serves as a rallying point for advocates of youth entrepreneurship and supporters of young individuals’ aspirations to make a difference. It calls for a collective effort to create an environment where young entrepreneurs can thrive, free from unnecessary hurdles and burdensome regulations.
In the face of adversity, Cristal Johnson stands as an example of a loving and supportive parent, determined to nurture her son’s dreams and inspire others to embrace the entrepreneurial spirit. Her hope is that through this incident, society will recognize the importance of fostering an inclusive and empowering environment for young individuals to showcase their creativity and contribute to the community’s growth.
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