Introducing our Founder & Managing Director Anita Carmichael Roberts
“Economic equity is the greatest equalizer,” says Anita C. Roberts, Silicon Hills Capital founder. It’s on that philosophy that Roberts founded Silicon Hills Capital/Narrow the Gap Fund. A $25 million venture fund, which empowers women and African Americans, Indigenous and people of color through coaching, community and capital. Her vision is that first-check investing in women and BIPOC founders building scaleable, growth aggressive companies will lead to economic equity and support a new wave of innovation in the United States.
Roberts has never backed down from a challenge, as there is an issue at hand — COVID-19 magnified the inequities of minority businesses in local communities. Less than 2% of Black-owned businesses that applied for Paycheck Protection Program assistance received any funds in the first round, according to a Made Media Group survey. And while MMG raised funds and gave $1K grants to more than 30 Black and women-owned businesses in 2020, it received an additional 200-plus grant applications from businesses.
Further, in venture capital, men still get the lion’s share of funding, with only 2% of capital going to U.S.-based female-only founder teams, according to PitchBook. Of the 2%, women of color get only a fraction. This despite female-managed and mixed-gender funds outperforming all male funds in 2020, according to Goldman Sachs.
“Those who are most successful in investing are getting the least capital,” Roberts said. “That’s astounding. It’s time to flip the script.”
And Black and minority women need coaching, community and capital, as they are on the move. Since 2007, the number of firms owned by African-American women has grown by 164%, and nearly half of women-owned businesses in the United States, or 44%, are controlled by minority women, according to Census data and projections by the research firm Womenable. That’s up 20% since 1997.
Also, despite entrepreneurship in the U.S. as a whole being on the decline, Black women are starting businesses at the fastest clip of any racial group, according to American Express.
“There’s a movement of Black and minority women in business,” Roberts said. “It’s time to recognize that and help the movement.”
Aside from being personally selected to serve on former Pres. Barack Obama’s 2008 inauguration public relations team, Roberts brings a lot more experience to the table. She served in Afghanistan as the Chief of Public Affairs for the current chairman of the joint chiefs of staff and is a retired lieutenant colonel and combat veteran.
Roberts is the managing director, has a senior advisory board and Advisory Council consisting of Hannah Grey Founding Partner Kate Beardsley, Siebert Williams Shank & Co. Managing Director Nicole Conley, DivInc Founder and CEO Preston James II and Tale Ventures Managing Partner Michael Young, and more.
Silicon Hills Capital invests in industries with high impact and growth potential that fits their areas of expertise (primarily media and tech). It invests in ventures that generates positive social media and fosters sustainable, economic growth. The fund’s portfolio companies include Shop Latinx, The Mentor Method, Tradeblock and Elite Sweets.
“We are North America-focused, early-stage and industry-opportunistic venture fund,” Roberts said. “”We invest in early-stage start-ups when our experience and network can make a real impact.”
The fund is built on an entrepreneurial and coaching ecosystem. Roberts has been building and investing in the Black business ecosystem for the past decade. She built an online community of 20,000 African-Americans in central Texas, with 2,000 Black and women-owned businesses. She is the founder of BlackBusinessJournal.com, which is one of the top three premium websites for Black business news, while providing education and mentorship thorough its nonprofit Made Media Group.
Roberts sees self-made women like Meg Whitman, Serena Williams and Mellody Hobson, and says she’s working to make sure there are many more to follow.
For more information on joining Silicon Hills Capital/Narrow the Gap Funds Advisory Council or as an investor — Email info@siliconhillscp.com
