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Backstage Capital Turns To Crowdfunding To Raise $1M Fund

Los Angeles-based Backstage Capital, the startup investment fund led by Arlan Hamilton, has raised more than $1M for its new venture capital fund via crowdfunding, according to its crowdfunding page. Backstage Capital's crowdfunding page says the company raised $1,070,000 from 2,063 investors, in a crowdfunding effort just kicked off a few days ago. Backstage Capital invests in people of color, women, and LGBTQ+ founders. The use of crowdfunding is quite unusual for a venture capital fund, which typically turn to institutions and family offices for its Limited Partners.