The founder of K50 Ventures says the firm plans to stick to its focus on technology that serves mainstream people — not the wealthy — after its success with portfolio companies such as Self Financial and India’s Groww. “We look at small businesses and and middle class consumers as the heartbeat of the economy,” Ryan Bloomer, founder and managing partner of K50, told MarketWatch. “Although the middle class is shrinking, it’s still the majority of the nation.”
Globally, the middle-class continues to grow as it now represents 73% of the world’s spending. More than 90% of businesses are small and they produce nearly half of the world’s gross domestic product. K50 describes itself as a purpose-driven venture capital firm. Its objective is to drive access, affordability and an improved bottom line for mainstream consumers with technology across health care, financial services and the future of work. Founded in 2016 and with three funds now under its belt, K50 is often the first institutional money put to work in a business. Along with Bloomer, the leadership team at the New York-based firm incudes Nick Talwar, Daniel Vasquez and Adriel Bercow. “Since 2016, we’ve invested in over 150 companies that have generated top-decile [top 10%] …
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