
by Ramin Setoodeh via variety.com
Director Spike Lee received a six-minute standing ovation at the Cannes Film Festival after the Monday night premiere of his new drama “BlacKkKlansman.” The movie, which tells the true story of an undercover African-American detective (John David Washington) and his Jewish partner (Adam Driver) who team up to infiltrate Klu Klux Klan in 1979, is incredibly timely. It even ends with footage of Donald Trump refusing to condemn the actions of white nationalists during the deadly 2017 Charlottesville riot.
There are a lot of digs at the current president throughout ““BlacKkKlansman” — one KKK member talks about embracing an “America first” policy and the film makes parallels between the rise of Trump and the political ambitions of former Grand Wizard David Duke.
Lee walked the red carpet wearing brass knuckles from “Do the Right Thing,” which said “love” on one hand and “hate” on the other. He was joined by cast members Washington, Driver, Damaris Lewis, Jasper Paakkonen, Laura Harrier, Topher Grace, and Corey Hawkins.
To read more: ‘BlacKkKlansman’ Gets Standing Ovation at Cannes for Spike Lee – Variety
Hamilton announced the news while participating in the United State of Women summit this past weekend. Backstage Capital is a venture capital firm that invests specifically in underrepresented founders. Through this newly-announced initiative, the firm will invest in black women founders $1 million at a time.
“The rumors are true. Today at [the summit] I announced that my venture capital firm has launched a $36m fund that will invest in Black women founders $1mill at a time,” she tweeted
Hamilton is part of the only 9 percent of VCs that are women, according to Forbes. Also, only 15 percent of total VC money went to female founders last year.
The numbers are even more dismal among underrepresented groups like people of color and LGBT founders. “Investing in us—people of color, LGBT people, and women—is good business, good sense,” Hamilton, who is a black queer woman, told Quartz earlier this year. “And you are foolish if you think otherwise.”
As for what she’s branded the name of this initiative, Hamilton coined a name we are all the way here for. “They’re calling it a ‘diversity fund’,” Hamilton tweeted. “I’m calling it an IT’S ABOUT DAMN TIME fund.”
And according to a Monday morning tweet, the work has already started with the new fund. “It is launched and raising,” she said. “Been in motion for months, and have some great partners. Will invest in 2-3 companies out of it before the end of the year, 5-6 in 2019.”
You can learn more about Hamilton and how she overcame all odds to create Backstage Capital in the latest season of Gimlet’s entrepreneurship podcast “Startup”.
Source: https://www.essence.com/news/arlan-hamilton-36-million-funding-black-women










