Slauson & Co. announced the launching of its early-stage venture capital fund early on Thursday. The VC firm, founded by partners Austin Clements and Ajay Relan, who is known for backing the popular Inglewood business Hilltop Coffee + Kitchen, with partners Yonnie Hagos and Issa Rae, has established support from Ashton Kutcher, will.i.am, PayPal, Alpaca VC and True Capital Management. Ron Conway, “super angel” tech investor and philanthropist, has played an essential role in establishing Slauson & Co.’s first fund as an adviser to Clements and Relan.
“We’re tapping into communities with tremendous talent that simply haven’t been given the opportunity and playbook to thrive,” Clements said. “We’re here to compete at the highest level and demonstrate that investing in underrepresented founders provides a competitive advantage. It’s not as though we’re suggesting we’ll catch the best fish by only focusing on one corner of the pond. What we are saying is, ‘forget the pond, let’s spend time in this massive lake where hardly anyone is fishing.'”
The Los Angeles based VC firm will spearhead initiatives promoting diversity, inclusion and economic empowerment. Slauson & Co. will be a pipeline for historically underrepresented idea curators and entrepreneurs and their U.S. based startups to tap into funding that is often not accessible in communities such as Inglewood. With the goal of providing mutual value for both the founder and investor, Slauson & Co. centers on the growing tech industry.
“Democratizing access to entrepreneurship through the deployment of intentional capital is our approach to helping close the rapidly increasing wealth gap in this country,” Relan said. “Marginalized communities – including women and people of color – have been left out of boom cycles for decades. There is a clear disparity in the venture capital industry and it’s time to recirculate our efforts and begin leveling the playing field for these talented entrepreneurs.”
Clements has dedicated his career to aiding founders in the early stages of developing their startups. Previously, he was the former principal at TenOneTen. Currently, he has aided the development of organizations, such as tech inclusion hub PledgeLA and startup accelerator Grid110.
Relan is an active advocate for leading initiatives in Los Angeles communities. In his previous role, he served as a founding partner at Queensbridge Venture Partners and has managed a diverse portfolio, with Hilltop Coffee + Kitchen being one of them.
