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The Venture Codex

New Age Capital

29 Broadway, Suite 1502, New York, NY, 10006, United States

Overview

New Age Capital is a thesis-driven seed stage venture capital firm that invests in tech and tech-enabled startups founded and led by the most promising Black and Latino entrepreneurs. Its mission is to create and support a world where people of all races, ethnicities, cultures, lifestyles, and environments are exposed to novel ideas, democratized information, and boundless opportunities through the use of technology.

Total investments
5
Lead investments
2
Investments · 12mo
0
Active investors
2

Sector focus

  • Venture Capital
Visit website

Investment portfolio

  • MyAvana

    Participated · Seed · Aug 2024

    Myavana, led by CEO and Founder Candace Mitchell, is an Atlanta, GA-based beauty tech company specializing in AI-driven personalized hair care. Its HairAI technology uses microscopic hair analysis and advanced algorithms to decode hair texture, type, and condition and provide instant product recommendations tailored to specific needs. The company’s real-time data analytics platform and Hair RI solution enable partners like Ulta and Amazon to drive purchases. Myavana has collaborated with the National Black-Owned Beauty Supply Association and Braintrust Founders Studio and has facilitated distribution to over 1,000 retailers and salons. The company raised $5.9M in Seed funding and intends to use the proceeds to expand operations and consolidate its position. Backers include a mix of venture firms and strategic investors that support its retail and distribution strategy.

  • ConnectCareHero

    Led · Seed · Jun 2023

    ConnectCareHero is a healthtech/agetech company building technology to bring more cultural diversity to nursing and to support staffing solutions for senior living and nursing homes. The company emphasizes addressing social determinants of health, isolation, aging-in-place, and memory care through its platform. It describes an innovative technology under development aimed at matching culturally aligned caregivers to seniors and care settings. The team highlights broad community and ecosystem support from accelerators and local organizations. Financially, ConnectCareHero closed an oversubscribed $1.8M Seed round and has raised $2.7M in total capital to date. The company plans to use the new capital to continue product development and expand its growth trajectory.

  • GLASS

    Led · Equity · May 2023

    Glass operates Glass Commerce, an e-commerce marketplace that enables compliant transactions between government buyers and verified vendors, including small businesses, without bids or paperwork. The platform simplifies procurement workflows and focuses on streamlining every single transaction, beginning with small purchases. Led by Founder and CEO Paola Santana, the company targets government agencies and leverages procurement data to speed adoption. Since 2020, Glass has supported government agencies to procure over 5.8 million items from verified businesses across 31 federal, state and local agencies, including the State of Illinois and the City of Seattle. The company plans to use recent funding to accelerate adoption of Glass Commerce and expand its footprint among public-sector buyers.

  • PredictionStrike

    Participated · Equity · Sep 2021

    PredictionStrike, founded in 2019 by Deven Hurt and Brad Chabra, operates an online marketplace where users buy virtual shares of athletes across the NFL, NBA, MLB and UFC. Share prices are set by an in-house algorithm that incorporates player performance and trading demand, and the product is modeled after a stock market. The company has processed $60 million in transactions and reports more than 175,000 users, up from $15 million in transactions and 100,000 users a year earlier. PredictionStrike generates most revenue via a 2.5% transaction fee and offers a subscription tier with lower fees and additional perks; it also aims to sell aggregated data on athlete popularity and trading patterns in the future. The team has been investing raised capital into product development and outside hires, and Hurt has led the company while completing Harvard Law School. PredictionStrike is available in about 40 states but has faced regulatory scrutiny, including an Ohio investigation and a cease-and-desist letter from New Jersey; the company says it operates as a “game of skill” and will apply for licenses where required. PredictionStrike operates a live marketplace that lets fans buy and sell virtual shares of athletes, with prices driven by real-world performance and user demand. The platform functions like a stock market—each game acts like an earnings report—and supports portfolios, trading, and social engagement features. The company plans to launch a premium membership in fall 2022 that will add social features (friends, leaderboards, reward-based referrals) and advanced trading tools. PredictionStrike is adding new sports ahead of major seasons, starting with soccer and followed by women’s basketball, tennis, and golf. The team has partnered with athletes and agencies (notably VaynerSports for MMA) to produce content and drive engagement. Since the return of sports after 2020 the company has processed over $15M in transactions and grown to more than 100K users. PredictionStrike operates a performance-based sports trading platform that lets users buy, sell, and trade virtual shares of professional athletes using real money. The platform functions like a live stock market, enabling users to build portfolios and trade in a live market where share prices react to players' real-world performance and fan demand. Prices update with each game or match, which the company compares to earnings reports. PredictionStrike also plans to leverage its data analytics to provide real-time fan-intelligence insights to athletes, agents, retailers, ticket sellers, and others in the sports business. The company intends to use new funding to expand its team, further build out its technology, and increase marketing to attract new users. Since the return of sports after the 2020 COVID-19 hiatus, PredictionStrike has completed over $3M in transactions. The platform was co-founded by Deven Hurt and Brad Chabra and is based in New York City.

  • Kaster

    Participated · Equity · May 2021

    TargetDocs offers a visual board for construction project files built with Angular, Node.js and Postgres that organizes users’ files, tracks current or missing documents, provides invoice-payment reminders, and supplies a collaborative workspace. It targets six- to 24-month contract projects ranging from roughly $10 million to a few billion across private and public builds such as shopping malls, commercial and industrial buildings, multifamily apartments, bridges, roads and highways. The company was founded by Joseph Leiva, who created the product from firsthand construction-industry experience; the team is four people and serves about 20 clients. Many clients are in the government space, so the product includes additional cybersecurity protections and compliance-focused features; TEDCO’s investment came from its Cybersecurity Investment Fund. Financially, TargetDocs completed an $850,000 funding round in April and plans to use the proceeds to hire three team members in sales, marketing, and engineering. Leadership aims to grow organically and may pursue a larger round in the first or second quarter of next year.

Team

  • Ivan Alo

    Co-Founder & Managing Partner

    LinkedIn
  • LaDante McMillon

    Co-Founder & Managing Partner

    LinkedIn