Arlan Hamilton, founding father of Backstage Capital, introduced Friday that her position on the agency she began in 2015 will evolve.
“After 12 years of being deeply concerned within the day-to-day operations, I’ve determined to transition right into a chairperson and advisory place,” she wrote in a press release launched on-line. She was beforehand a managing associate on the agency. “This transfer will enable me to give attention to what I do greatest — amplifying Backstage’s mission, internet hosting workplace hours with founders and traders, chairing the advisory board, and bringing new alternatives to the desk via my platform.”
She additionally wrote that the agency will enter a strategic partnership with 360 Venture Collective, which will probably be “buying a big stake in Backstage’s administration entity” and becoming a member of in co-managing operators, offering capital, and serving to the agency scale.
“Together, we’re launching a $200 million fund in 2025,” Hamilton stated.
We’ve reached out to Hamilton and Backstage Capital for remark.
Backstage Capital has weathered some stormy winds these previous few years. The agency has invested in additional than 200 firms, in response to Pitchbook, together with the fintech Guava and data platform Career Karma. It has round $20 million in belongings beneath administration, with 56 exits. But we reported again in 2022 that even then there appeared to be a slowdown on the agency. It introduced on the time that it might again solely current portfolio firms, and that it might considerably downsize its crew from 12 to 3 folks.
Hamilton additionally famous in her podcast on the time that she was annoyed with restricted companions, saying the agency discovered itself in a “purgatory form of place,” as a result of some traders believed it already had sufficient help, despite the fact that that wasn’t the case. The panorama for corporations like Backstage and for founders like those it backs has solely develop into extra fraught since 2022. Funding and help to various founders and operators has considerably stalled, particularly for Black founders.
Hamilton wrote in her on-line assertion that the agency’s partnership with 360 Ventures would make sure the agency stays sustainable “whereas multiplying our capability to help underestimated founders and create a long-lasting legacy,” she stated.
“I’m assured that this subsequent chapter will take us to unbelievable heights and I’m honored to proceed being a part of the journey on this new capability.”
