May 11, 2022

Posted On: Freada and Mitch Kapor, the co-founders of Kapor Capital, have announced that they will no longer be involved in the company they founded over a decade ago. Uriridiakoghene “Ulili” Onovakpuri and Brian Dixon will serve as the business’s new managing partners, the Kapors said in a blog post . The firm aims to support social impact initiatives and entrepreneurs of colour. According to the Kapor family, “as a social impact investment business with very particular requirements, Kapor Capital is delighted to develop our next generation of leadership.” “We’ve reaped the benefits of our partnership’s diverse backgrounds, experiences, and travels. Brian and Ulili will carry on that legacy.” Since first revealed that Kapor Capital intended raising a $125 million fund — of which it has already closed $97.5 million according to SEC filings – the change has been underway for at least a year. By having Dixon and Onovakpuri as co-managing partners, the fund indicated a shift in the way Kapor conducted business: it was the first investment vehicle to be backed by outside parties other than Mitch and Freada Kapor. After the fund’s initial closure, Dixon and Onovakpuri seem to be more officially taking on their positions. In the past, both investors have made venture financing available to a broader audience. Kapor Capital’s summer associate programme began with Dixon as the inaugural participant. Later, he became one of the youngest African-American partners at any Silicon Valley venture capital company, including Kapor Capital, according to the firm. While Onovakpuri created Kapor’s Capital Fellowship, he has also worked at Village Capital and Fresco capital, among other companies Although both have held the managing partner position for the last year, the investors will have greater freedom to decide where the business goes and who it raises money from now that the Kapors have legally stepped aside. It is clear that Mitch and Freada Kapor will continue to assist and invest in the 170 portfolio firms. Last year, Kapor Capital’s portfolio firms had roughly 59 percent of its founders being women and/or people of minorities. It states, “We’re not retiring, but we’re taking a step back with complete trust in Brian and Ulili, and we look forward to how they will continue to positively affect the venture capital ecosystem.” Kapor Capital.