Goldman Sachs' Launch With GS Announces Investment in MaC Venture Capital I
NEW YORK, December 16, 2020 – Goldman Sachs’ Launch With GS today announced an investment in MaC Venture Capital I, a California-based seed stage venture capital fund. Launch With GS is Goldman Sachs’ $500 million investment strategy grounded in our data-driven thesis that diverse teams drive strong returns.
Formed in 2019 after the merger of seed funds Cross Culture Ventures and M Ventures, MaC Venture Capital (MaC VC) backs technology companies that create infectious products that benefit from shifts in cultural trends and behaviors. MaC VC is led by General Partners Marlon Nichols, Adrian Fenty and Michael Palank. They are joined by venture partner, Charles D. King. MaC VC identifies emerging behavioral trends and unaddressed multi-billion dollar challenges where technology will increase efficiencies, create new markets, and / or expedite the move from a growing trend to a cultural / behavioral norm. MaC VC invests in talented and uniquely qualified entrepreneurs creating the next generation of technology solutions at the seed stage.
“We believe MaC Venture Capital has a unique pulse on cultural trends, and we are thrilled to be formally partnering with them as they drive growth and innovation across the early stage ecosystem,” said Margaret Anadu, Managing Director at Goldman Sachs and member of the Launch With GS Board of Advisors. “We are excited for MaC VC’s General Partners, all of whom have differentiated experiences and skillsets, to bring valuable perspectives to founders at an integral part of the company lifecycle.”
“At the beginning of 2020, I joined the Launch With GS external Advisory Council,” said Marlon Nichols. “During my time on the Advisory Council, I witnessed firsthand the power and reach of the Goldman Sachs network, the value the firm creates for its partners, and a true commitment to driving towards racial and gender equity within its businesses. MaC Venture Capital could not ask for a more values aligned and influential partner than Goldman Sachs. We are thrilled to welcome them as an investor.”
Through Launch With GS, Goldman Sachs aims to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs and investors. Since the initiative began in 2018, Goldman Sachs has deployed nearly $400 million of the original $500 million commitment.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
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