Brent Faiyaz and his business partner Ty Baisden have invested in Black women-led S.T.E.M. companies.
Through Faiyaz’s Lost Kids label, the artist entered into a 50/50 partnership with Baisden, who serves as his manager, Billboard reported. The agreement also allows both parties to operate various business ventures.
“That was basically our handshake to one another in the beginning,” Baisden told Billboard. “Those projects and his tours are the financial seeds for Brent and me to go out and make individual investments.”
Under Lost Kids, their most significant investments are in the real estate markets of Atlanta, GA, and Dallas, TX. The pair has also invested in at least 20 startups, including Athletic Greens, Therabody, Audio Shake, and Seed.
“And the great thing is three of those four companies — Seed, Audio Shake, and Athletic Greens — are led by women,” Baisden told the outlet.
The commitment to women-led businesses does not stop there. As AFROTECH™ previously reported, the duo launched the Show U Off grant program in March 2021 to support Black women in business. Per the program’s website, 10 applicants will each receive $10,000 in funding “as a small investment in their professional ventures.” To qualify, participants must be based in the Washington, DC, Maryland, or Virginia area and submit a one-minute video about their business, the obstacles they encounter, and how the funding will aid their progress.
Previous winners include Joyel Balgar (City Girls Golf), Zara Visuals (Zara Visuals LLC), Abidemi Awojuyigbe (Scholastic App), and Shequeta Smith (Shero Games).
So far, the grant program has completed four cycles, with the latest round providing $10,000 each to 12 women in science, technology, engineering, and mathematics (STEM).
“This year was a heavy one with new ideas involving S.T.E.M. companies, [artificial intelligence] technology, electric batteries, etc. Thus far, we’ve donated about half a million dollars or more to Black women-helmed businesses,” Baisden revealed to Billboard.
