Goldman Sachs’ Launch With GS initiative has announced an investment in Ulu Ventures, a Latina-led fund in the US. Launch With GS is Goldman Sachs’ $1 billion investment strategy grounded in its data-driven thesis that diverse teams drive strong returns, according to the company.
Ulu is a seed stage venture fund based in Silicon Valley investing primarily in Enterprise IT, Smart Data, and the broader Silicon Valley tech ecosystem. Ulu raised $138 million for Fund III, well exceeding its $100 million target.
“Our investment in Ulu Ventures furthers our shared goal to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs,” said Suzanne Gauron, head of Launch With GS. “Ulu is a great example of our thesis that diverse teams outperform because of their perspectives and experiences.”
“Ulu has created a data-driven, disciplined investment process designed to manage risk, produce top-tier financial returns, and reduce cognitive bias,” said Miriam Rivera, Chief Executive Officer, Co-Founder and Managing Director. “Launch with GS, and its investments in underrepresented minority-led funds like Ulu, bring capital, energy, and support to the vibrant community of diverse founders.”
In March 2021, Goldman Sachs announced that it has committed an additional $500 million to investing in diverse businesses and funds through Launch With GS, doubling its original commitment for a total of $1 billion. Since the program’s inception in June 2018, the firm has deployed more than $450 million across companies and managers with diverse management teams.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.