LGBTQ+ Venture Capital Fund Names CEO
Local venture firm LOUD Capital has found the leader of its LGBTQ+ community-focused venture fund the Pride Fund 1.
Densil R. Porteous was named CEO of the $10 million fund that invests in early-stage and growth companies led by LGBTQ+ people.
“From the inception of the fund, we realized we needed a dynamic representative of the community who not only understood the venture and startup spaces but who also had a desire to shape a legacy,” says Navin Goyal, co-founder & CEO of LOUD. “We were lucky to find Densil right here in Columbus.”
According to Backstage Capital, less than 1% of venture capital deals in the U.S. go to LGBTQ+ founders.
“I am excited to contribute my talents and passion to the community in this way,” said Porteous. “We have an opportunity to make a significant impact and leave an enhanced legacy.”
Porteous has held various executive leadership roles on boards of local, regional and national organization and has worked in education administration. He has worked with local startups and organizations like Acceptd, Juggle, TicketFire, GetAccepted, Rev1 Ventures and LEAP. A recently-launched initiative of Stonewall Columbus, LEAP provides a business accelerator program for LGBTQ+ entrepreneurs. Porteous also identifies as gay.
He will be joined in leadership roles of the fund by Board Chair Michael Smithson, who is the founder of LEAP, Managing Partner Wolf Starr and Legal Counsel Lindsay Karas Stencel.
For more information, visit pride.vc.