Increased demand for crypto assets could also create a more sustainable inclusive capital ecosystem. Natasha Bansgopaul, co-founder and COO of VegaX Holdings, an index-based crypto asset management platform, is successfully leveraging this as a venture-backed company disrupting the global blockchain market. FinTech blocks which is expected to grow to $23.9 billion by 2026. With crypto’s ability to tap into diverse audiences, as well as underrepresented founders leading innovative companies in the industry, this is perhaps be the key needed to shift the paradigm and ignite cultural capital.

The breakdown you need to know:

The majority of black female founders struggle to raise more than $1 million and Bansogopaul is a serial entrepreneur and major player in the fin-tech space who has accomplished this feat multiple times, as noted by CultureBanx during of his “Fiery cultural capital» session with UBS. VegaX Holdings has already raised a multi-million round from major institutional investors, including SOSV, and is on track to close its Series A round.

With just under one in four, or about 23%, of black people owning this hidden currency, compared to 11% of white Americans and 17% of Hispanics, it is imperative that the black community be included in this next phase of revenue-generating finance. richness. In some ways, cryptocurrencies offer a new, decentralized financial model for black communities to grow their own wealth, after being ostracized for so long by traditional banking institutions.

Cultivating crypto culture:

Bansgopaul said crypto plays an important role as an alternative financial product when it comes to cultivating cultural capital. “It’s a unique opportunity for people to come in and lead with their own drive and drive to learn and start to carve out space for themselves,” she said.

Additionally, Bansogpaul commented on how cultural capital is typically at the heart of most Black and Maroon-led businesses. “These founders tend to build with a lens of minority inclusion and talent development.

One of VegaX’s investors, William Bao Bean, General Partner of SOSV, has pledged to invest in problem-solving founders, and Bansogopaul’s VegaX fits the bill. SOSV’s $1.2 billion fund is the third most active venture capital investor in the world.

Bao Bean wants more underrepresented founders to have the opportunity to grow their business and believes inclusive capital is a major part of making that happen. “The goal is to be able to solve everyone’s problem, which is why we invest in 150 companies every year,” he said.

Situational awareness:

Cryptocurrencies are an attractive financial option with around 2 in 5 black adults likely to buy or invest in bitcoin, compared to around 3 in 10 adults overall, according to Morning View data. Platforms like Vegax Holdings can have a major impact on increasing cultural capital in the black community, by providing investors with direct access to mineable crypto-indexes, which can enhance their investment portfolios and become a new language of business. economic empowerment.