MaC VC has recently closed a $150 million Fund III, as reported by Fortune. The firm, founded in 2019 with $600 million in assets under management, will now be investing between $2 million and $3 million in seed-stage companies. Some of their notable investments include Chef Robotics and Stoke Space, with a strong focus on investments in Africa.

This closing marks one of the biggest successes for a minority-owned firm this year. Black founders and fund managers have faced challenges in raising funds, as the capital allocated to Black individuals continues to decline.

This update includes the year MaC VC was founded.