MaC VC raised $150M Fund III

MaC VC just raised a $150 million Fund III, according to Fortune. 

The firm, which launched in 2019 and already has $600 million in assets under management, will now cut check sizes between $2 million and $3 million into seed-stage companies. Notable investments for the firm include Chef Robotics and Stoke Space. The firm is also known for its investments throughout Africa. 

This is set to be one of the largest closes for a minority-owned firm this year. Black founders and fund managers have struggled to raise funds this year as the amount of capital allocated to Black people continues to decrease.

This was updated to reflect the year the firm launched.