A venture capital firm supporting Black tech companies has closed its second fund. BKR Capital Led by Managing Partner Lise Birikundavyi, alongside co-founder Isaac Olowolafe, Toronto-based BKR Capital invests in technology or technology-enabled startups. According to the firm’s website, they target companies with diverse teams that have at least one Black founder and are at the pre-seed to seed stage. The firm primarily focuses on companies based in Canada, though up to 10% of its portfolio may be global. “We need to keep innovation at home,” Birikundavyi explained, according to The Globe and Mail. “We all want a Canada that is strong economically – where our children can grow up and have everything they need.” Fund II Details BKR Capital has raised $20 million for its second fund, aiming to reach $50 million by the end of 2026, per The Globe and Mail. The raise was supported by Royal Bank of Canada, Business Development Bank of Canada, Export Development Canada, and others,...

Uncle Nearest’s receiver seeks to bar its founders from speaking publicly about the brand’s ongoing case. In a new update shared by The Lynchburg Times, receiver Phillip G. Young Jr. requested that a federal judge issue a gag order that would prevent Fawn Weaver, Keith Weaver, and their related entity Grant Sidney from publicly discussing the receivership on social media or with employees, vendors, creditors, shareholders, investors, and distributors. This request was made in a filing on Monday, March 23, notes the outlet. The request comes after Fawn took to Instagram to announce that “the receivership has ended” and “the reorganization has begun.” The post coincided with a press release stating that Uncle Nearest was filing a lawsuit against its lender, Farm Credit Mid-America, in the New York Supreme Court for a smear campaign that made false claims of missing inventory, financial misconduct, negative cash flow, and insolvency. The receivership was put in place in August 2025...

If you don’t hear from 50 Cent, just know he’s likely closing in on a business deal. His latest venture is an entertainment hub. Curtis “ 50 Cent ” Jackson has inked a $100 million deal alongside Planet Hollywood Founder and CEO Robert Earl to launch PH Live, according to a press release. The hub will be located at Planet Hollywood Times Square in New York City and will feature LED technology, live music, film and television premiere parties, private events, live sporting event simulcasts, VIP experiences, and corporate gatherings, among other offerings. “When I get quiet I’m working, I’m working on it 😆💰PH live baby! @50centaction @phlivenyc ,” 50 Cent wrote on Instagram.   View this post on Instagram   A post shared by 50 Cent (@50cent) The partnership also marks 50 Cent’s first major restaurant-entertainment partnership, the press release notes. Guests can expect to dine at the location, with menu items including sweet chili shrimp with mashed potatoes, sliced steak paired with...

Jalen Brunson is centering financial literacy and education in his philanthropic efforts. Brunson is an NBA player who was selected 33rd overall by the Dallas Mavericks in the 2018 draft, per Basketball Reference. He credits his parents for shaping his spending habits at a young age, in conversation with AFROTECH™. So when he signed his rookie contract, valued at $6.11 million over four years, according to Spotrac, he had the foundation to manage his money responsibly. “Once I got into the league, you’re given a lot more money. You obviously worked hard for it, but now you are responsible for making responsible decisions. It’s a whole different animal, but the principles are still the same,” Brunson, who now plays for the New York Knicks, told AFROTECH™. Brunson credits his parents, agents, and financial team with challenging him and guiding him through strategic financial decisions. The byproduct of their support has led Brunson to pursue business moves such as his endorsement deal...

Few figures embody the intersection of entrepreneurship, family legacy and generational wealth quite like Folorunsho Alakija . Widely regarded as one of Africa’s most influential business leaders, the Nigerian entrepreneur built a multibillion-dollar empire spanning fashion, oil and gas, real estate and philanthropy. Over the past several decades, Alakija has transformed herself from a bank secretary and fashion designer into a global business figure whose wealth and influence have reshaped conversations about African entrepreneurship and women in leadership. Today, her fortune, estimated at billions, largely stems from her stake in Famfa Oil Limited , which holds an interest in Nigeria’s prolific Agbami Oilfield , one of the country’s most significant offshore petroleum discoveries. Her familial legacy is equally important to her business expertise, as Alakija and her husband have raised four sons, each with some level of involvement in the family empire . As a result, the Alakija...

Sherrese Clark has attached herself to another acquisition of a legendary artist. As AFROTECH™ previously told you, Clark, former CEO of Tempo Music, launched HarbourView Equity Partners to invest in “ evergreen intellectual property. ” In 2025, the firm received $500 million in debt financing from KKR to scale its portfolio of music, media, and sports-related intellectual property. To date, HarbourView Equity Partners’ portfolio includes more than 70 music catalogs and more than 35,000 songs, including master recordings and publishing income streams, Music Business Worldwide reports. The portfolio includes artists such as Wiz Khalifa, Nelly, and T-Pain. Now joining the list is the late Quincy Jones. HarbourView Equity Partners has acquired Jones’ “select music and non-music assets” from the Estate of Quincy Jones, per the outlet. The deal includes his participation in Michael Jackson’s albums “Off The Wall, “Thriller,” and “Bad,” which he produced, and also his stake in “The Fresh...

Dr. Ashton Sellers has taken over a longstanding animal hospital and made history in the process. Hickman Mills Animal Hospital was opened in 1957 by Dr. L.W. Williams, per the organization’s website. Now, Sellers becomes its third owner and also leads as the head veterinarian, according to Fox4. “Once you move into ownership, it’s just a whole different ballgame because now it’s you,” Sellers told the outlet. “From the minute somebody walks in the door, it’s your business, your staff; these are your patients, and that just comes with a different mindset that you have to have.” This was a long-held dream of Sellers, who aspired for ownership when she was young, her mother, Susan Weaver, told the outlet. “She’s always excelled; she’s always achieved and always had goals, and she’s always been determined to accomplish her goals,” Weaver said. Making History Sellers also makes history in her new role. She is the first Black woman in Kansas City to own an animal hospital and the...

A judge has partially approved claims brought forward by Black former McDonald’s executives. According to a court document, former vice presidents of the fast-food giant Victoria Guster-Hines and Domineca Neal filed a lawsuit against McDonald’s USA, LLC; McDonald’s Corp.; Steven Easterbrook; Christopher Kempczinski; and Charles Strong, alleging employment-based discrimination. Guster-Hines spent 32 years at McDonald’s and was promoted about 15 times. This includes a 2013 promotion to quality, service, and cleanliness vice president (QSC-VP). Five years later, she began working at the company’s Dallas Field Office as an operations officer after corporate restructuring plans, which were called “Field First Restructure,” according to the document. As it relates to Neal, she has worked at the company since 2012. After five years, she was appointed QSC-VP and also transitioned to the Dallas Field Office as an operations officer during corporate restructuring. The court document noted...

Jasmine Johnson is behind a historic cannabis ecosystem in Florida. Johnson, who has a background in property management, real estate, and asset management, has embraced a business-driven mindset shaped by Miami, where she was born, and her upbringing in a family that builds and runs their own ventures. As a child, Johnson witnessed and participated in the early stages of her parents’ entrepreneurial journey in real estate, property management, and asset management, which included her mother’s acquisition of a brokerage called Frank K. Cooper Real Estate. Her parents went on to acquire and finance a 44-property portfolio they managed, and Johnson began working there day-to-day from elementary school through high school taking calls or joining her mother to collect rent, she shared in an interview with AFROTECH™. GŪD ESSENCE Today, Johnson, a Florida International University graduate, manages 25% of her family’s portfolio through Johnson Property Management Services (JPMS), which...

Jam Vino by Chef Lorious is a line of wine-infused gourmet jams. Made with 100% real fruit and five all-natural ingredients, it’s vegan, gluten-free, family-friendly, and rich in fine wine flavor. Behind the brand are Chef Lorious “Lori” Rogers and her husband, Shane Rogers — a duo building at the intersection of Black love , innovation, and ownership. With no prior manufacturing experience, the couple entered the consumer packaged goods industry head-on. They created a new category while sourcing co-packers, navigating compliance, scaling production, and growing a nationally recognized brand. “The truth is, it’s really kind of getting into what do you have, who are you, and what can you make that’s an expression of yourself? And it doesn’t have to always be that thought out and that much intention,” Lori told AFROTECH™. The Making Of Jam Vino Beyond product formulation, innovation isn’t just about taste or creating something different — it’s about creating something personal. For...

Aasiyah Abdulsalam is leveraging robotics to solve pain points in the wig industry. The London native, raised in Ireland by parents from Nigeria, developed scalp psoriasis at 12 years old, according to Inc. She began wearing wigs because she was losing hair “ excessively, ” she said. By default, she became acquainted with hair brokers, stylists, and specialty product manufacturers. They were useful when she was creating her own wigs or getting them installed, the outlet notes. When she became a student at the University of Leicester, her fascination for the wig industry grew. She even moved to South Korea to work at a wig factory for six months to support her dissertation, which centered on studying the “manufacturing geopolitical ties” of a consumer product. “I became obsessed,” Abdulsalam explained to Inc. The Wig Fix The dissertation’s outcome later inspired the creation of The Wig Fix in 2020, a transparent, patented, hypoallergenic silicone wig grip that can secure a wig with...

Tyler Perry’s minority stake in BET+ has been acquired. Perry launched his first series with BET in 2019 and, in connection with the streaming platform, has produced more than 700 episodes, Deadline reports. His most recent deal was valued at nine figures with BET Media Group and is slated to conclude by 2028 and encompasses producing new and existing series for both BET and BET+, according to a separate article from Deadline. Perry was a minority shareholder in BET+, with his stake estimated at 25%, which would amount to tens of millions of dollars, Deadline reports. Now, Perry’s stake is being acquired by Paramount. In June, BET+ will no longer exist as a standalone streaming service, and its more than 1,000 hours of content, spanning originals, movies, and specials, will move to Paramount+ . “We share the same ambition to expand the reach of BET content, and Tyler will continue to be a valued and important partner through his overall programming agreement,” a Paramount...

Sanctions have been brought forward against Uncle Nearest founder Fawn Weaver. On Tuesday, March 17, Weaver took to Instagram to share a video that opened with her saying “the receivership of Uncle Nearest is done.” As AFROTECH™ previously reported, the whiskey brand founded by Weaver and her husband, Keith, had entered into a receivership after defaulting on more than $108 million in loans to its lender, Farm Credit Mid-America. Tennessee attorney Phillip G. Young Jr. is the court-appointed receiver as of August 2025, which permitted him to oversee Uncle Nearest’s assets, including its distillery in Shelbyville, TN, as well as “real estate holdings, intellectual property, affiliated ventures, and related entities,” AFROTECH™ noted. Young also attempted to sell the Weavers’ Martha’s Vineyard property, though the sale was placed on hold by a federal judge until appraisals, notice, and a hearing are completed, the Moore County Observer reports. After months under a receivership that...

Courtney Adeleye is making history during Women’s History Month. The Mane Choice The former registered nurse has become a serial entrepreneur, finding success in the haircare space. In 2013, she founded The Mane Choice, a natural haircare brand she believed addressed a market gap. “There were not many brands that used natural ingredients and specialized in healthy hair growth at the same time,” Adeleye told Entrepreneur . “So, I started mixing my own products at home and infused them with vitamins, nutrients, and healthy ingredients.” Adeleye also went online to discuss her haircare journey, which led to interest from viewers who wanted to purchase her products. She used $500 from her savings to create deep conditioning treatments, and within three years of operating from her home, she generated $10 million in sales, as AFROTECH™ previously reported. Acquisition By 2019, the venture, which carries shampoos, conditioners, and hair growth vitamins, had generated $100 million in sales,...

30-year-old NFL athlete Jaylon Smith is investing his earnings to ensure long-term wealth. Smith is guided as a client by Michael Ledo’s RISE Family Office, formerly RISE Sports Advisors, a multi-family Dallas-based financial services firm with nearly $300 million in assets under management, according to information shared with AFROTECH™. RISE Family Office taps into its institutional investor network to source private company deals, creating more structured investment opportunities for athletes and high-net-worth entrepreneurs. For Smith, this led him to invest $100,000 in the Series C round of the health tech company Oura during his final run with the Dallas Cowboys in 2021. “The deal was brought to me by RISE,” Smith told AFROTECH™.  “And it was a thing where I was very intrigued with the health and wellness space, particularly around different devices or tools to better help gather data. Oura was one of the deals that was brought to me, and I decided to invest.” Smith has since...