Malcolm Jenkins is welcoming India Robinson and Sara “Lovestyle” Hood into Broad Street Ventures, a $10 million venture capital fund.
Broad Street Ventures, a $10 million venture capital fund that is part of Malcolm Jenkins‘ Malcolm Inc., is fully funded by Black and Brown investors. On Thursday, it announced that it will add two more.
One investor, India Robinson, is already familiar with Jenkins. Robinson is the chief marketing officer and co-founder of Listen Up Media, a production company she and Jenkins created to “highlight and distribute content that mandates a conversation, drives engagement, and creates social awareness around systemic issues in society,” according to its website.
The investment opportunity with Broad Street Ventures is perfect for me both professionally and personally,” Robinson said in a release. “Professionally because I am an advocate of group economics and love working with my trusted partners … Personally, I’m focused on legacy and building generational wealth and the choices and decisions I make now will ensure the strength of both.”
The other investor is Sara “Lovestyle” Hood, a lifestyle entrepreneur, tech investor, and media personality.
“The financial wealth gap for people of color, especially for Black women, is undoubtedly high,” she said in a release. “As a Black female investor, I’m typically left out of deals that garner true generational wealth. Joining Broad Street Ventures gives me the opportunity to gain access to the best deals along with the ability to educate other Brown and Black investors to not only expand their basic knowledge of financial literacy, but hopefully open the door for more to join.”
These additions to Jenkins’ investment vehicle means a lot to him, as he has made it a priority to elevate Black women.
Look no further than Ralonda Johnson, another Black woman, who is chief investment officer of Malcolm Inc. and the co-founder and general partner of Broad Street Ventures.
“I’ve had a lot of success in a bunch of different spaces,” Jenkins told Boardroom. “All of [my success] stands on the backs of Black women. My success is based on my team that allows me to get into these spaces. Ralonda is a key part of that. When we talk about the advancement of the Black community, the Black home or the Black family, you can’t do that without elevating the Black woman.”
Jenkins’ mother Gwendolyn V. Jenkins also helps run his foundation. His mother spent 20 years in public service as a New Jersey Superior Court executive and president of the Professional Football Players Mothers Association.
Johnson spearheads a lot of what Broad Street Ventures does. The venture capital fund’s investment portfolio includes Airbnb, Epic Games, Dapper Labs, Therabody, Instacart, and more. Outside of Hood and Robinson’s additions, other investors include Devin and Jason McCourty, Jordan Matthews, Rodney McLeod, Jacoby Brissett, Sharrie Williams, and others who chose not to be disclosed.
“We’re not here to reinvent the wheel,” Johnson told Boardroom. “A part of the reason we wanted to create this is to create generational wealth in our community and to make sure we have a way for our people to get access to some of the top deals, too. We make sure we provide an education so our people have a level of understanding about what they’re investing in. [But] it’s equally as important to have the right people around you and people that have your back.”
Broad Street Ventures has provided added value through hosting virtual seminars for prospective and current investors to educate them about venture capital entry, angel investing, and risk capital and emerging areas. And with April being financial literacy month, BSV plans to host at least two virtual seminars for prospective athletes, entertainers, and industry-leading investors.
Jenkins and Johnson have known each other since they were in preschool. Originally, when Johnson told her longtime NFL friend that she would make him more money off the field than he would ever make on the field, Jenkins laughed in her face.
“I took that laugh in the face very personal because I was like “oh he thinks this is a game and I’m playing,” she recalled. “I’ve already notified him that I’m printing out a big stack of [investment] papers and I’m just going to throw it at him so when he gets hit with them he’s going to know this is the day.”
The Saints’ safety deferred to Johnson on what’s next for Broad Street Ventures, saying: “Ralonda is taking us into the future from here and beyond. What we really enjoy doing is creating vehicles that help other people navigate those same roads.”
“Our goal is to eventually have Broad Street Ventures Fund 2,” Johnson added. “We’ll be calling all Black and Brown investors, [saying] we have the perfect vehicle for you. We’re trying create generational wealth and solve some of the problems within our community.”
This story has been updated with the correct spelling of Sara Hood’s name.